Personal Income Tax Threshold Not to Exceed 3,000 Yuan
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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