income tax

Business Doubts Impact of New Laws in Chaotic China: Analysts – AFP

From AFP: Two landmark laws that have just gone into effect in China look to drastically alter the business environment, but the reality may turn out to be different, analysts said. In booming, chaotic China, enforcement of any law can be weak or non-existent, and the impacts of the new ones that aim to equalise […]

Fewer Chinese to Pay Income Tax – Xinhua

From Xinhua via Shanghai Daily: China’s top legislature has adopted an amendment to raise the individual income tax threshold from 1,600 yuan (about US$220) a month to 2,000 yuan, a change intended to ease the burden of medium- and low-income earners facing higher living costs. The amendment will take effect from March 1, 2008. The […]

China Raises Tax Threshold To Ease Burden On Poor – AFP

From Agence France-Presse: China has proposed lifting millions of its citizens out of the income tax net to ease the burden on low-wage earners amid rising inflation, state press said Sunday. The country is expected to raise the monthly tax threshold from 1,600 yuan (218 dollars) to 2,000 yuan and the legislature was reviewing the […]

Timing, conditions for unifying corporate income tax ripe: Premier – People’s Daily Online

Another look at the corporate income tax bill, downplaying its potential crushing effect on foreign investment. From People’s Daily Online: Chinese Premier Wen Jiabao said Monday that the timing and conditions are now ripe for unifying the enterprise income tax rates for domestic and overseas-funded enterprises to “level the playing field.” Wen made the remark […]

China’s welfare push to help balance economy – Reuters

From Reuters, via the Independent (Bangladesh): Slowly but surely, China is executing a shift in tax and spending policies to help meet its goal of rebalancing growth from investment to consumption. Worried by a widening rich-poor gap that could undermine stability, Beijing has already stepped up spending on social security and scrapped agricultural taxes. It […]

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