China's State Council will present a proposal to the National People's Congress on raising the personal income tax threshold and adjust taxation brackets.
The move is aimed at allaying public concerns over inflation and easing the tax burden on individuals.
Raising the threshold and streamlining tax brackets will increase domestic consumption and improve living standards, analysts said, although the country's cabinet didn't disclose details of the reforms or cite a timeframe for them to come into operation.
"If the lowest tax bracket starts at 3,000 yuan ($456), approximately 20 percent of working people will be liable for income taxes, a reduction from the current 50 percent," said Ping Xinqiao, a professor from the School of Economics at Peking University.
"At present, the majority of taxpayers are from the low- and middle-income groups," he said.
Ping called on the government to use the family as the basic unit for an income tax levy as soon as possible, and said the policies should take into account the different circumstances facing families, including the ages of family members, and educational and living costs.
"Tax policies should be in line with the changing economic conditions and come as a response to soaring inflation," said Zhang Deyong, a researcher from the Institute of Finance and Trade Economics at the Chinese Academy of Social Sciences.
Jia Kang, head of the Institute of Fiscal Science, a think tank affiliated to the Ministry of Finance, said that an increase in the threshold won't improve income distribution while wages remain low, and he argued that "high earners should contribute more in tax revenues."
Jia suggested the government should reduce the current nine tax brackets to five, expanding the range of each bracket and relieving pressure on those in the low- and middle-income groups.
A rise in the personal income tax threshold would benefit the middle- and low-income groups, said Premier Wen Jiabao on Sunday in an online chat with the public.
Xie Xuren, minister of finance, said the government will gradually push the reform of income tax and implement structural reductions in tax rates and thresholds.
The last rise in the personal income tax threshold came in March 2008, when the lowest level threshold was introduced for those earning 2,000 yuan a month from the previous figure of 1,600 yuan.
Analysts said that the changes failed to reflect the variable increases in wages and a rise in consumer prices
In 2010, China's budget deficit was equal to 2.5 percent of gross domestic product with a national debt of less than 20 percent that been contained "within a safe range", said Xie.
The country's inflation rate rose 4.9 percent in January from a year earlier and food prices increased 10.3 percent year-on-year because of a drought in major grain producing regions.
Public concerns over inflation and low wages have put pressure on the government to ease the burden on taxpayers.
The nation's tax system will undergo a major reform in the next five years as domestic consumption is expected to become the engine for economic growth.
主站蜘蛛池模板： 粗大的内捧猛烈进出在线视频| 99久久国产亚洲综合精品| 旧里番yy4480在线高清影院| 亚洲爆乳少妇无码激情| 秋霞鲁丝片一区二区三区| 四虎comwww最新地址| 韩国伦理电影我妻子的秘密| 国产福利精品一区二区| 91av视频免费在线观看| 在车子颠簸中进了老师的身体| 一本一本久久a久久精品综合 | 处破痛哭A√18成年片免费| 一区二区视频在线观看| 成年美女黄网站色大片图片| 久久国产一区二区三区| 日韩在线免费播放| 久萆下载app下载入口| 杨幂精品国产福利在线| 亚洲免费电影网站| 欧美成人免费全部观看在线看| 国产黄色app| bl道具play珠串震珠强迫| 宝宝看着我是怎么进去的视频| 中文字字幕在线精品乱码app| 无限资源日产好片| 久久久久亚洲精品无码蜜桃| 日韩免费无砖专区2020狼| 九一制片厂免费传媒果冻| 欧美午夜电影在线观看 | 成人福利免费视频| 国产欧美日韩一区二区加勒比| 天堂网在线资源www最新版| 国产精品自在线拍国产电影| 91精品一区二区三区在线观看| 在线小视频国产| 99久久99久久免费精品小说| 处破之轻点好疼十八分钟| 99视频免费播放| 在线中文字日产幕| 99久久无色码中文字幕| 在线免费视频一区二区|