Raise individual income tax threshold or not?

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Raise individual income tax threshold or not?
Mar 10, 2011 02:23
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	Voting without time limit Exclusive Vote 14 vote(s) 1.Yes, individual income tax reform is needed. 2 vote(s) 2.No, the individual income tax threshold remains. See All Voter(s) Note: Guest voter(s) are not displayed here. The Chinese public has expressed their hope for raising the individual income threshold after the State Council of PRC proposed a plan to adjust the ITT. According to an online survey on Sina.com, 38 percent citizens hope that the individual income tax threshold should be raised to CNY 5000. 20 percent require the top legislature to levy ITT on those who earn more than 4000 yuan per month. Only 10 percent think the ITT threshold should be raised to 3000 yuan from 2000 yuan. According to the statistics, the ratio of the income gap has now reached 12.66 : 1 in China. The gap between the rich and the poor has increased rapidly. The individual income tax has been levied for about 30 years but the threshold has been just adjusted two times. For a long time, the ordinary wage-earners have contributed a lot to the country’s tax revenue. Now a reform for the individual income tax is urged.

Mar 10, 2011 02:23

JIMMYB
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The Chinese public has expressed their hope for raising the individual income threshold after the State Council of PRC proposed a plan to adjust the ITT.

According to an online survey on Sina.com, 38 percent citizens hope that the individual income tax threshold should be raised to CNY 5000. 20 percent require the top legislature to levy ITT on those who earn more than 4000 yuan per month. Only 10 percent think the ITT threshold should be raised to 3000 yuan from 2000 yuan.

According to the statistics, the ratio of the income gap has now reached 12.66 : 1 in China. The gap between the rich and the poor has increased rapidly.

The individual income tax has been levied for about 30 years but the threshold has been just adjusted two times. For a long time, the ordinary wage-earners have contributed a lot to the country’s tax revenue. Now a reform for the individual income tax is urged.

Mar 10, 2011 20:42	#1
LINGYUXISU Points: Join Date: Dec 3, 2010 Status: Offline	I hope it will be raised. The taxation aims to decrease the gap between the rich and the poor. But the threshold of 2,000 has been a burden to the poor already.

Mar 12, 2011 21:15	#2
GUEST8503	I think that raising the threshold to CNY 5000 is impossible. The previous source said that it might be raised to CNY 3000. Didn't know if it is true. The poll conducted by Sina.com has revealed many people's wish. Do not let them disappointed.

Mar 12, 2011 22:29	#3
ATTA_BUTT Points: Join Date: Sep 13, 2010 Status: Offline	People already face lots of burden of tax on their shoulders therefore need to collect tax from rich and pay to poor.

Mar 14, 2011 10:25	#4
CARLOS Points: Join Date: Sep 10, 2007 Status: Offline	I am not familiar with chinese tax system so I can not comment the threshold question. Taxing however should be progressive. Those who earn much should pay more taxes too. Not for a revenge because they earn so much but for that a country would be able to take care of all its citizens. People need good health care whether they are rich or not. Carlos

Mar 14, 2011 21:44	#5
GUEST5357	Will the government get less tax revenue if they raise the personal income tax threshold? The prices are skyrocketing but people's income do not increase. And they still have to pay the personal income tax. If a man can not maintain his life, how can he fulfill his duty to pay tax?

Apr 1, 2011 23:18	#6
LONELYJOURNEY Points: Join Date: Oct 28, 2009 Status: Offline	It has been confirmed that the tax threshold won't be CNY 5000. An official says that it won't be more than CNY3000. It has no big difference with CNY 2000.

Apr 4, 2011 08:29	#7
DAVIDWU1103 Points: Join Date: Mar 24, 2011 Status: Offline	We have a high tax, how about our quality of life? CNY 3000, What can we buy ?

Apr 20, 2011 01:19	#8
LINGYUXISU Points: Join Date: Dec 3, 2010 Status: Offline	It is reported that the individual income tax threshold will be increased to rmb3,000.

May 2, 2011 04:31	#9
JIMMYB Points: Join Date: Feb 7, 2007 Status: Offline	Quote: Originally Posted by LINGYUXISU It is reported that the individual income tax threshold will be increased to rmb3,000. China has publicized the draft and called for the public opinion. The threshold is CNY 3000. But some experts still think it is too low. CNY 5000 is better.

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