三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Draft tax law revision eyes fairer income distribution

Xinhua | Updated: 2018-08-27 21:34
Share
Share - WeChat
[Photo/IC]

BEIJING - Chinese lawmakers Monday began the second reading of a draft decision on the Individual Income Tax Law at a bimonthly session of the top legislative body.

Explaining the draft to lawmakers at the start of the National People's Congress (NPC) Standing Committee session, Xu Hui, vice chairman of the NPC's Constitution and Law Committee, said that it is necessary to revise the current law to enable taxation to better play its role in adjusting income distribution.

According to a draft amendment deliberated at a bimonthly session of NPC Standing Committee in June, the minimum threshold for personal income tax exemption was raised from 3,500 yuan ($512) to 5,000 yuan per month or 60,000 yuan per year.

The draft amendment added special expense deductions for items like children's education, continuing education, treatment for serious diseases, as well as housing loan interest and rent.

The decision under deliberation adds a new special expense deduction for caring for the elderly. "The move has fully taken into consideration the fact that the aging population and the number of single-child families are mounting among the wage-earners in China," Xu said.

The State Council should set the range, standards, and enforcement steps for the special expense deductions and then report to the NPC Standing Committee, said a provision added to the draft.

The draft also stated that taxation authorities should provide taxpayers with information on their income and tax withheld.

The individual income tax was the third major contributor to China's total tax revenue, following value-added tax and enterprise income tax. In 2017, China collected individual income taxes worth nearly 1.2 trillion yuan, about 8.3 percent of the total tax revenue.

The current law has undergone seven revisions since it was enacted in 1980 when the original threshold for individual income tax exemption was 800 yuan per month.

It was raised to 1,600 yuan in 2005 and 2,000 yuan in 2007. The current threshold is 3,500 yuan according to the revision made in 2011.

According to the draft, the previous method of taxing monthly income will be replaced with a new calculation which focuses on taxing annual income.

The draft decision is scheduled to come into force on Jan 1, 2019 while part of the decision including the minimum threshold for personal income tax exemption is scheduled to go into force on Oct 1 this year.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 在线 欧美 | 国产精品免费观在线 | 欧美日韩一卡 | 一本久道久久综合 | 黄色大片毛片 | 在线观看日韩视频 | 国产精品第三页 | 内地自拍| 国产自精品在线 | 男人狂躁女人下面视频免费观看 | 国产一级毛片亚洲久留木玲 | 日韩电影久久久被窝网 | 亚洲色图欧洲色图 | 亚洲成人99| 中国毛片视频 | 精品国产三级a∨在线观看 精品国产三级在线观看 | 欧美三级在线看中文字幕 | 欧美亚洲日本国产综合网 | 欧美日韩综合网 | 成人免费网站在线观看 | 日本不卡免费新一二三区 | 99精品国内不卡在线观看 | 亚洲午夜精品一区二区 | 国内自拍 在线播放 网红 | 国产一区二区福利 | 免费视频久久久 | 免费看一级黄色片 | 中国日本欧美韩国18 | 萌白酱福利视频在线网站 | 日韩毛片在线免费观看 | 欧美日韩在线播放 | 国产自愉自愉全免费高清 | 精品成人资源在线观看 | 亚洲一区 中文字幕 久久 | 日韩精品中文字幕在线 | 男人看片网站 | 制服诱惑一区 | 国产精品大片天天看片 | 国产区精品 | 欧美一区二区三区免费不卡 | 国产精品免费看久久久麻豆 |