Individual income tax threshold increase and new tax rates favour low-wage earners

Individual income tax threshold increase and new ...

China alert - Issue 24, July 2011

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Individual income tax threshold increase and new tax rates favour low-wage earners

On 30 June 2011, the 21st Standing Committee of the National People’s Congress (NPC) passed the sixth amendment to the Individual Income Tax Law of the PRC (PRC IIT Law). The amended PRC IIT Law will take effect on 1 September 2011.

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