Income tax threshold stays at 5,000 per month
chinadaily.com.cn |
Updated: 2018-08-27 16:30
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The personal income tax threshold has been kept at 5,000 yuan (about $733) per month in the draft amendments to the Personal Income Tax Law sent for second reading, said Xu Hui, deputy head of the National People's Congress Constitution and Law Committee.
The draft amendments are considered at the fifth meeting of the 13th National People's Congress Standing Committee, held from August 27 to 30.
One change in the draft amendments is spending on supporting parents has been added to special tax deductions, which already included medical costs of serious illnesses, housing rents and interest on housing loans, children's education expenditures and continuing education fees.
