China's top legislature, the Standing Committee of the 10th
National People's Congress (NPC)
will deliberate a draft amendment on personal income tax law during
a six-day session to start on August 23.
The 35th NPC Standing Committee chairman and chairperson's
meeting, presided over by Wu
Bangguo, made the announcement on Monday.
According to the draft amendment, the minimum threshold for
personal income tax would be increased to relieve the economic
burden of middle and low-income groups.
Liu Jibin, vice chairman of the NPC Financial and Economic
Committee, said yesterday that the current law, officially
implemented in 1983, has played a significant role in regulating
income allocation and increasing the country's tax revenues.
"However, with constant economic development and rapid
improvement in living standards, the current law on personal income
tax cannot meet actual needs and should be amended," he said.
The draft law on animal husbandry will be also submitted to
the17th meeting of the 10th NPC Standing Committee for a first
deliberation. The draft law on penalties for offences against
public order, the draft law on notary services and an amendment
draft of the law on women and children's rights protection will be
voted on during the upcoming meeting, while the draft law on
cooperation and the draft law on securities will be submitted to
the upcoming session for a second deliberation.
Also during the session, the State Council will submit the
Framework Convention on Tobacco Control, the Convention on
Elimination of Discrimination in Respect of Employment and
Occupation, the Treaty for Friendship, Cooperation and
Good-Neighborly Relations between China and Pakistan and the treaty
on mutual legal assistance in civil and criminal matters between
China and Democratic People's Republic of Korea for deliberation
and approval.
Law enforcement reports and production safety law, as well as
the report on the implementation of this year's national economic
and social development plan will also be discussed.
(Xinhua News Agency August 16, 2005)