China reviews amendments to law on individual income tax
Date: 06:19, 21-06-2018.
Beijing. June 21. Silkroadnews - The Standing Committee of the National People’s Congress of China considers amendments to the law on individual income tax, Sina.com reports.
The Standing Committee of the National People’s Congress of China at its regular bimonthly session started to review a draft amendment to the law on individual income tax. The draft amendment raises the minimum threshold for individual income tax from 3,500 yuan (about $544) per month to 5,000 yuan.
The draft amendments provide for introduction of a special additional tax deduction for expenses for the education of children, continuing education, serious diseases, housing credit.
