What Kind Of Scheme The Individual Tax System Will Adopt Will Need Further Demonstration.

Reporters recently learned from the NPC Finance Committee, because at present, China

During the three session of the eleven National People's Congress in March 2010, 62 representatives of the great majority raised 2 proposals. At present, the personal income tax law has a high tax rate and a heavy tax burden on the working class and the middle and low income groups. It is suggested to modify the personal income.

The Standing Committee of the National People's Congress recently adopted the report of the motion submitted by the NPC Finance Committee on the motion submitted by the chairman of the eleventh session of the third session of the National People's Congress for consideration.

Annex revealed that the Ministry of Finance held that the NPC Standing Committee amended the personal income tax law two times in 2005 and 2007, raising the standard of deduction for wages and salaries, so that the actual tax burden of taxpayers' salaries and salaries decreased significantly.

But at present, the personal income tax system in China is still in the process of reform. What kind of scheme will be adopted in the future will need further investigation and demonstration.

The NPC Financial and Economic Committee believes that the personal income tax system is an important means to regulate the distribution of national income. It is of great significance to improve this system. It is suggested that the relevant departments should adjust the standard of deduction for wages and salaries according to the changes in the opinions of the bill and the basic living expenses of the residents, so as to strengthen the investigation and demonstration of the scheme of personal income tax, and initiate the revision of the personal income tax law in a timely manner.