Tax law amendments proposed for benefit of middle-income earners

0 Comment(s)Print E-mail Xinhua, June 25, 2011
Adjust font size:

China's individual income tax system should be amended to reduce tax burdens for the country's middle-income earners, a senior expert in finance and economics said.

Jia Kang, head of the Research Institute for Fiscal Science of the Ministry of Finance, made the remarks during an exclusive interview with Xinhua.

The Chinese public is currently debating how amendments to the individual income tax law can be more fair among different groups with different incomes.

Chinese legislators began discussing a draft amendment to the individual income tax law in April. The draft would raise the threshold for levying personal income taxes to 3,000 yuan (464 U.S. dollars) per month from the present 2,000 yuan per month. Public suggestions and opinions on the proposal were solicited from April 25 to May 31.

The results of the solicitation were published last week. Of the more than 80,000 citizens who commented on the proposal, only 15 percent of them favored raising the tax exemption to 3,000 yuan. Thirty-five percent were against it and 48 percent suggested raising the exemption to 5,000 yuan per month.

"The initial proposal would offer tax relief to low-income people while elevating taxes for high-income earners, but there is still room for improvement," Jia said.

Currently, China implements a nine-bracket taxing mechanism on salaried incomes. Taxes are calculated after subtracting the exemption amount, with each bracket carrying different tax rates, ranging from 5 percent to 45 percent. Rates move up as tax-payable income increases. The original draft amendment suggested cutting the number of tax brackets from nine to seven.

Jia suggested removing the 20-percent rate and keeping the 15-percent rate. His suggestion would mean that those with monthly pre-tax incomes between 7,500 yuan and 12,000 yuan would benefit from smaller taxes.

He also suggested that the individual income tax threshold should be readjusted every three years according to changes in consumer prices.

Jia's comments come as debates over the country's taxation system continue to rage between both ordinary citizens and prominent economists.

Some people have proposed that there should be different exemption thresholds, which could be tied to local individual income levels.

Li Daokui, a member of the monetary policy committee of the People's Bank of China, suggested that provinces, autonomous regions and municipalities should have the option to apply for different tax exemptions.

However, Jia said that since the whole country is essentially a unified market,it could be difficult to create different regulations concerning individual income taxes, as this could affect the free flow of labor.

Some netizens have warned that this may cause workers to favor more developed eastern regions, thus affecting development in central and western regions.

Jia also suggested that tax authorities should increase their monitoring of tax evasion by those who obtain extra income apart from their normal salary payments. He said the additional income should be subject to taxation as well.

The draft amendment to the individual income tax law will undergo a second review in late June by the Standing Committee of the National People's Congress, the country's top legislative body.

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 欧美成人国产精品高潮| 老板在娇妻的身上耸动| 天堂8中文在线最新版在线| 久久丁香五月天综合网| 桃花影院www视频播放| 亚洲精品aaa| 一区二区不卡久久精品| 日韩国产成人精品视频| 亚洲国产日韩在线一区| 波多野结衣在公众被强| 刘敏涛三级无删减版在线观看| 超碰aⅴ人人做人人爽欧美| 国产欧美精品一区二区色综合 | 国产浮力第一页草草影院| 国产色诱视频在线观看| a级精品九九九大片免费看| 校花公交车上被迫打开双腿| 亚洲欧美日韩中文无线码| 男人j桶进女人p无遮挡在线观看 | 4480新热播影院| 国模私拍福利一区二区| jizz免费看| 好硬啊进得太深了h动态图120秒| 中文字幕一区在线| 无码国产成人午夜电影在线观看| 久久文学网辣文小说| 最近中文字幕无吗免费高清| 亚洲国产日韩a在线播放| 欧美日韩亚洲国产无线码| 亚洲白色白色永久观看| 热re99久久精品国99热| 免费a级毛片永久免费| 男生女生一起差差差视频| 免费精品视频在线| 精品一区二区高清在线观看| 动漫美女被爆羞羞免费| 精品无码黑人又粗又大又长| 又粗又猛又黄又爽无遮挡| 老师在办公室疯狂的肉我| 国产AV日韩A∨亚洲AV电影| 肥臀熟女一区二区三区|