Personal Income Tax Threshold Not to Exceed 3,000 Yuan

By People's Daily Online
Published: 2011-03-22

An unnamed source close to the National Tax Administration revealed to reporters yesterday that it's unlikely that the personal income tax threshold would be lifted as high as 5,000 yuan a month, but that it might be increased to between 2,500 and 3,000 yuan. The same source also said that the current 9 tax bands will likely be reduced to 5, with the rate of tax at the highest level to be lowered from 45 to 40%. The latest amendments are likely to be submitted to the State Council at the end of March.

Source
People's Daily Online

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