Economy

China's legislature reads draft laws on income-tax

(Xinhua)
Updated: 2011-06-27 14:06

BEIJING -- The Standing Committee of China's National People's Congress (NPC) started bimonthly session Monday to review a batch of draft laws, including draft amendment to the Personal Income Tax Law and draft law on administrative mandatory.

Related readings:  Expert proposes tax law amendments  Chinese debate income tax exemption plan  3,000-yuan tax threshold can offset inflation: Official  No consensus in debate over income-tax threshold

The legislature's bimonthly session will be convened from June 27 to 30.

The draft amendment to the Personal Income Tax Law was submitted for the second reading. The draft amendment revealed on Monday kept the tax exemption threshold at 3,000 yuan ($461.5), the same as in the first reading.

Lawmakers also reviewed a draft law on administrative mandatory for the fifth time. Once adopted, it would mark the completion of China's legal framework regarding the administrative authority of government agencies.

The draft amendments to law on occupational disease prevention and law on military service were submitted for first reading.