-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> News -> 
CHINA TO RAISE INCOME TAX THRESHOLD
    2018-06-20  08:53    Shenzhen Daily

CHINA is planning to raise the individual income tax threshold from 3,500 yuan (US$555) per month to 5,000 yuan, as well as carry out taxation deductions and other tax reforms in a bid to relieve personal tax burdens.


Described as “an unprecedented tax reform,” an amendment draft for the Individual Income Tax Law was submitted to the country’s top legislative body for review yesterday, which proposes to raise the tax exemption amount from 3,500 yuan to 5,000 yuan each month.


The draft also for the first time allows personal tax deductions for spending on children’s education, continuing education, medical fees for critical illness, interest for housing loans as well as housing rent.


A comprehensive calculation method of net taxable income combining salary incomes, labor incomes, remuneration as well as royalties will also been introduced for the first time if the draft is passed. Other notable possible changes include improving the tax rate structure and introducing an anti-avoidance clause.


The draft is China’s seventh amendment to the personal income tax law since its introduction in 1980.  (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn