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Higher tax threshold proposed
Published on: 2007-12-26
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Legislators have proposed raising the threshold for personal income taxes to 3,000 yuan (410 USD) to benefit low- and medium-income earners struggling to deal with recent increases in the prices of daily necessities. A draft amendment to the Law on Individual Income Tax that is now being deliberated by the National People's Congress (NPC) Standing Committee would free those earning less than 2,000 yuan a month from paying income tax…Click here
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