China's Ministry of Finance gets new suggestions regarding income tax
Emerging Markets Economy, Jul 7, 2003
China's Ministry of Finance think tank has recently suggested lifting the lowest level of levying personal income tax from its present 800 yuan (US$96.39).
It also proposed lowering the rate levied on those with medium income - monthly income between 3,000 to 5,000 yuan - to encourage spending and boost the economy, according to Shanghai Daily News
China adopted individual income tax laws in 1980 when a monthly salary of 800 yuan was a level that most Chinese residents could not reach.
C 2003 All rights reserved. EMEconomy
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