China raises income tax threshold
19:58, 30 June 2011
BEIJING. June 30. KAZINFORM China has decided to raise the level at which people start paying income tax; Kazinform refers to BBC News.
The standing committee of the National People's Congress is lifting the threshold from 2,000 yuan ($309; £193) to 3,500 yuan a month.
The official Xinhua news agency said the committee had decided against a previous suggestion of 3,000 yuan after a strong online response from citizens.
The move came on the eve of the 90th anniversary of the founding of the ruling Communist Party.
The committee said that raising the threshold was "necessary and timely", would reduce the tax burden on people with low incomes and would also help to reduce inequality; Kazinform cites BBC News.
To learn more go to www.bbc.co.uk