A revised Personal Income Tax Law was adopted by China’s top legislators yesterday, raising the threshold for monthly personal income tax from 800 yuan (US$99) to 1,600 yuan (US$198) a move that will help ease the burden on low-wage earners…
When it comes into force, only a quarter, or 26 per cent, of wage earners are expected to pay personal income tax, Lou Jiwei, vice-finance minister, told a press conference yesterday.
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