Update: Legislature Considers Raising Personal Income Tax Threshold
* Standing Committee of the National People’s Congress considers amending Individual Income Tax Law to rase exemption to 5,000 yuan a month
* New exemption is much lower than some proposals offered during the “two sessions” earlier this year
(Beijing) — An upcoming tax overhaul is expected to lift China’s personal income-tax threshold by around 43% to 5,000 yuan ($776.50) per month from 3,500 yuan per month, according to state media.
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