Mar 29, 2022 04:43 PM

China Offers Tax Relief for Workers With Children Under Age 3

Photo: VCG
Photo: VCG

(Bloomberg) — China expanded personal income deductions to include childcare expenses for children under the age of three, the government’s latest move to reduce the tax burden for households and encourage families to have more babies.

The deductible amount is 1,000 yuan ($157) per month for each family, according to a statement posted on the Ministry of Finance’s website. The rule takes effect from Jan. 1 retrospectively, it said.

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