China's top legislature, the Standing Committee of the 10th National People's Congress (NPC) will deliberate a draft amendment on personal income tax law during a six-day session to start on August 23.
The 35th NPC Standing Committee chairman and chairperson's meeting, presided over by Wu Bangguo, made the announcement on Monday.
According to the draft amendment, the minimum threshold for personal income tax would be increased to relieve the economic burden of middle and low-income groups.
Liu Jibin, vice chairman of the NPC Financial and Economic Committee, said yesterday that the current law, officially implemented in 1983, has played a significant role in regulating income allocation and increasing the country's tax revenues.
"However, with constant economic development and rapid improvement in living standards, the current law on personal income tax cannot meet actual needs and should be amended," he said.
The draft law on animal husbandry will be also submitted to the17th meeting of the 10th NPC Standing Committee for a first deliberation. The draft law on penalties for offences against public order, the draft law on notary services and an amendment draft of the law on women and children's rights protection will be voted on during the upcoming meeting, while the draft law on cooperation and the draft law on securities will be submitted to the upcoming session for a second deliberation.
Also during the session, the State Council will submit the Framework Convention on Tobacco Control, the Convention on Elimination of Discrimination in Respect of Employment and Occupation, the Treaty for Friendship, Cooperation and Good-Neighborly Relations between China and Pakistan and the treaty on mutual legal assistance in civil and criminal matters between China and Democratic People's Republic of Korea for deliberation and approval.
Law enforcement reports and production safety law, as well as the report on the implementation of this year's national economic and social development plan will also be discussed.
(Xinhua News Agency August 16, 2005)
