BEIJING -- The country's top legislature has received a record number of more than 230,000 public submissions on a draft amendment to increase the minimum threshold for personal income tax from 2,000 yuan ($306) per month to 3,000 yuan.
The Standing Committee of the National People's Congress (NPC) published the draft amendment to the Personal Income Tax (PIT) Law on its official website,
www.npc.gov.cn, on April 25, calling for public submissions. Tuesday is the deadline for submissions.
Feedback submitted online broke the previous record.
Related readings: Experts: Tax threshold must rise No consensus in debate over income-tax threshold Public increases tax pressure on govt Experts input on tax threshold changes
During a bimonthly session which concluded late April, the NPC Standing Committee examined the draft amendment to the PIT law for the first time.
The draft amendment, featuring a minimum tax threshold hike
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The country currently uses a nine-bracket progressive rating system
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christian louboutin boot,000 to 2,500 yuan, and a maximum rate of 45 percent for those whose earnings exceed 102,000 yuan a month.
However, according to the draft
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More than 200 million people of the country's working class will stand to benefit from lifting the minimum PIT threshold. If the personal income tax threshold is lifted, only about 12 percent of the working class will have to pay taxes, down from the current 28 percent, according to officials.
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