Clear answers for the 10 most pressing issues
- By Chen Boyuan
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E-mail China.org.cn, March 23, 2016
3. Reform on personal income tax: plans are being considered
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The poor and the rich [By Jiao Haiyang / China.org.cn] |
![The poor and the rich [By Jiao Haiyang / China.org.cn]](http://images.china.cn/attachement/jpg/site1007/20160323/001aa0ba3c6a185c4bf315.jpg "The poor and the rich [By Jiao Haiyang / China.org.cn]")
"We are proposing plans for the reform of personal income tax," said Lou Jiwei, minister of finance, on March 7 at an NPC press conference. He said that last year the Ministry of Finance and the State Administration of Taxation jointly studied the major obstacles for reforming personal income tax and have already formed a plan, as per the requirement of the third plenary session of the CPC's 18th National Congress to perfect the system of taxation on personal income.
"Our drafted plans have been submitted to the State Council. As per the NPC's legislation timetable and the State Council's requirement, we will send this drafted plan for deliberation at the NPC," the finance minister said.
As for whether or not China will raise the threshold of personal income tax, Lou explained that an undifferentiated rise in the threshold would be unfair to those in the working class and that reform on personal income tax will not be advancing in that direction.
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