NPC deputy proposes to raise the benchmark of individual income tax to RMB 5,000.

NPC deputy proposes to raise the benchmark of individual income tax to RMB 5,000.
Mar 4, 2008 03:54
JOHNNY512 Points: Join Date: Nov 29, 2004 Status: offline	During the ongoing NPC sessions, NPC deputy Song Qinghou, the general director of Hangzhou Wahaha Beverage Co.ltd, has proposed a motion that the benchmark of individual income tax should be raised to RMB 5,000. Several months ago, the individual income tax benchmark has just been adjusted from RMB 1,600 to 2,000. According to the National Statisitic Bureau, the average income per worker was 1853 Yuan. The deputy said that in 1981 the average income of a worker was 60 Yuan per month. The benchmark of individual income tax was 800 Yuan, about 13 times of the monthly income. He thought that the individual income tax was mainly imposed on the rich people, but now the average working poor has to pay large portion of tax. Do you think if China should raise the benchmark to RMB 5,000?

Mar 4, 2008 03:54

JOHNNY512
Points:
Join Date: Nov 29, 2004
Status: offline

During the ongoing NPC sessions, NPC deputy Song Qinghou, the general director of Hangzhou Wahaha Beverage Co.ltd, has proposed a motion that the benchmark of individual income tax should be raised to RMB 5,000.

Several months ago, the individual income tax benchmark has just been adjusted from RMB 1,600 to 2,000. According to the National Statisitic Bureau, the average income per worker was 1853 Yuan.

The deputy said that in 1981 the average income of a worker was 60 Yuan per month. The benchmark of individual income tax was 800 Yuan, about 13 times of the monthly income. He thought that the individual income tax was mainly imposed on the rich people, but now the average working poor has to pay large portion of tax.

Do you think if China should raise the benchmark to RMB 5,000?

Mar 4, 2008 20:17	#1
FRANKENSTEIN Points: Join Date: Nov 29, 2004 Status: Offline	The motions is highly unlikely to be passed, I bet. The government will lose a hugh amount of tax once the motion is passed.

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