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  1. Mixed reaction to increasing the threshold for income tax

    Posted Aug 27th 2005, 12:00am by Cary Huang

    ... income tax. The Standing Committee is debating two amendments to the Personal Income Tax Law, one of which would raise the taxable threshold from the current 800 yuan a month to 1,500 yuan. Jie ... yuan a month. They argued that many middle-income earners- those earning about 2,000 yuan a month- would be caught in the tax net if the new threshold was set at 1,500 yuan. Shi Guangsheng, ...

  2. Changes to income tax law target the wealthy

    Posted Sep 30th 2005, 12:00am by Cary Huang

    ... Cary Huang in Beijing Beijing aims to draw the country's millionaires into its tax net by changing the income tax law, according to a senior Ministry of Finance official. Jia Kang, director of the ministry's Research Institute for Fiscal Science, said loopholes meant most millionaires escape paying personal income tax. Amendments to the Personal Income Tax Law, submitted ...

  3. Income tax proposal met with mixed views

    Posted Sep 28th 2005, 12:00am by Cary Huang

    ... Cary Huang in Beijing When the national legislature threw the hot issue of personal income tax reform to a handful of carefully selected participants at its maiden public hearing yesterday, half of those present called for a higher income tax threshold. Drawn from 4,982 applicants, the 20 participants at the hearing included people from a range of social backgrounds across ...

  4. Majority want higher income tax threshold

    Posted Aug 30th 2005, 12:00am by Cary Huang

    ... Cary Huang in Beijing The State Council proposal is welcomed but 1,500 yuan threshold called too low The State Council's proposal to raise the personal income-tax threshold to 1,500 ... Committee announced it will hold a public hearing prior to deciding whether to raise the personal-income-tax threshold. The results were released yesterday. Last week the State Council passed ...

  5. Good economy expected to boost income tax take

    Posted Sep 16th 2005, 12:00am by Dennis Eng

    ... of response. On provisional taxes, she said individuals only had the right to pay less if their income had declined by at least 10 per cent year on year. If their wages had risen or the decrease ... Dennis Eng The robust economy is expected to boost government receipts of salaries and profit tax this financial year by almost $4 billion compared with the previous year. Inland Revenue ...

  6. Tax reform a welcome effort to address wealth gap

    Posted Sep 02nd 2005, 12:00am by Staff Reporter

    ... It is 25 years since the mainland set the wage level at which workers must begin paying income tax at 800 yuan a month. In that time almost everything else has changed, especially the cost ... gap would be to change the tax regime so that more after-tax income is left in the hands of lower-wage earners. And a simple way to do that is to raise the income tax threshold, ...

  7. Taxing the rich, easing burden of the poor is what we already do

    Posted Sep 06th 2005, 12:00am by Jake Van Der Kamp

    ... fiscal year and the next 100,000, 18 per cent. The top 300,000, comprising less than 10 per cent of the working population, accounted for 85 per cent of salaries tax income. Let us put ... are rising, which will on its own bring more people into the tax net. It may be so, but the effect will be only marginal. I grant you that there might be justification for it if income disparity has ...

  8. Tax break to ease burden on low earners

    Posted Aug 24th 2005, 12:00am by Cary Huang

    ... to the Personal Income Tax Law to the National People's Congress Standing Committee in a bid to alleviate the tax burden on low-income families and catch more high-income earners in the tax net. ... not be required to pay income tax. A second amendment would require high-income earners to file their own tax returns. It also stipulates fines for violators. Finance Minister Jin Renqing told Standing ...

  9. Publisher sees pressure on ad income

    Posted Apr 26th 2005, 12:00am by Staff Reporter

    ... although total revenue grew just 2.9 per cent. A five-year tax exemption arrangement with the government cut the company's taxation expenses by 79.8 per cent to 16.73 million yuan. It has also ...

  10. Food production, farmers' incomes to take centre stage

    Posted Mar 05th 2005, 12:00am by Staff Reporter

    ... Shi Ting Legislators and policy advisers are pushing agricultural issues such as food production and farmers' incomes to the top of the agenda as the annual plenary session of the NPC ... Hui Liangyu warned the country had rarely been successful in keeping food production at a consistent level, Xinhua reported. In another worrisome indication of pending trouble, the income gap ...




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