The National People's Congress Finance Committee said that the tax system plan still needs investigation and demonstration

Deputies to the National People's Congress said that middle- and low-income earners and working-class people have high taxes;

 

 

The reporter recently learned from the Finance Committee of the National People's Congress that because my country's personal income tax system is still in the process of reform and there are some problems in its implementation, the final plan for this system will require further investigation and demonstration.
 

 

During the Third Session of the Eleventh National People's Congress, 62 deputies to the National People's Congress proposed in the bill that the current personal income tax law has a problem of high tax rates and excessive tax burden on working-class and middle- and low-income earners.

 

 

The Standing Committee of the National People's Congress recently voted to approve the report of the NPC Finance and Economics Committee on the results of the deliberation of the bills submitted by the deputies of the Bureau of the Third Session of the Eleventh National People's Congress. The annex to the report revealed that the Ministry of Finance believes that the Standing Committee of the National People's Congress revised the personal income tax law twice in 2005 and 2007, raising the deduction standard for wage and salary income expenses and reducing the actual tax burden on taxpayers' salary and salary income.

 

 

The National People's Congress Finance Committee recommends that relevant departments adjust the deduction standard of wages and salaries according to the opinions of the bill and changes in residents' basic living expenses, strengthen the investigation and demonstration of the personal income tax plan, and start the revision of the personal income tax law in a timely manner.