Standing Committee listens to public opinion in doubling the income-tax threshold to 1,600 yuan a month
The National People's Congress Standing Committee looks set to approve doubling the threshold above which citizens must pay personal income tax from 800 to 1,600 yuan a month.
An amendment to the Income Tax Law was expected to be approved by the Standing Committee on Thursday, Xinhua said.
Hu Guangbao, a deputy director of the NPC Legislative Affairs Committee, yesterday told the Standing Committee the proposed threshold took into account 'public opinions' and 'demonstrated the realisation of democracy'.
'This has taken into consideration [the] level of public acceptability,' Mr Hu was quoted saying, adding that the slightly higher cutoff point would lift some of the burden on people with low incomes.
Lawmakers were asked to raise the threshold from the current 800 yuan to 1,500 yuan a month in August. The Standing Committee, however, suggested a public hearing - held last month and the first in the NPC's history - to solicit views on the issue.
