RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Government / Central Government News Tools: Save | Print | E-mail | Most Read
Legislature to vote on income tax threshold
Adjust font size:

A draft amendment to the law on individual income tax, which proposes to raise China's monthly individual income tax levy threshold from the current 1,600 yuan (217.69 U.S. dollars) to 2,000 yuan, is expected to be put to a vote on Saturday.

It was submitted to the Standing Committee of the National People's Congress (NPC), China's top legislature, for deliberation on Dec. 23. The amendment was expected to be effective on March 1 next year.

Based on the suggestions of members of the NPC Standing Committee, the NPC's Law Committee had proposed a draft resolution on the draft amendment.

Yang Jingyu, NPC Law Committee chairman, delivered an explanation of the draft resolution to lawmakers on Friday.

The individual income tax threshold increase was believed to be "necessary and timely" to relieve the economic burden of medium- and low-income earners amid the recent price increase of some goods.

"The threshold could be readjusted in the future according to legislative procedures and reality," Yang said.

The 31st session of the 10th NPC Standing Committee started on Sunday and runs through Saturday.

In addition, six bills -- draft laws on labor dispute mediation and arbitration, drug control, draft resolutions to the Law on Road Transportation Safety, the Frontier Health and Quarantine Law and the Law on the Protection of Cultural Relics, and a draft revision of the Law on Science and Technology Progress -- were also expected to be put to a vote at the end of the session.

On science and technology progress, lawmakers said the draft amendment was "relatively mature" after deliberation and revisions, according to Yang.

However, some NPC Standing Committee members suggested to add one item into the regulations: "The government encourages and supports basic research on agricultural technology and should increase input on innovation in agriculture."

(Xinhua News Agency December 29, 2007)
 

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- Higher tax threshold proposed
- Deepen taxation reform
- More income, lower taxes
- Top legislature starts five-day session
Most Viewed >>
-China works to limit snow-related chaos
-No effort spared, President Hu says
-Chinese Servicemen to Wear New Uniforms
-New commander for PLA Hong Kong Garrison appointed
-Farmers' income growth
Questions and Answers More
Q: What kind of law is there in place to protect pandas?
A: In order to put the protection of giant pandas and other wildlife under the law, the Chinese government put the protection of rare animals and plants into the Constitution.
Useful Info
- Who's Who in China's Leadership
- State Structure
- China's Political System
- China's Legislative System
- China's Judicial System
- Mapping out 11th Five-Year Guidelines
Links
- Chinese Embassies
- International Department, Central Committee of CPC
- State Organs Work Committee of CPC
- United Front Work Department, Central Committee of CPC
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号