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New benefits and major events expected to happen in China in 2019

(People's Daily Online)    10:02, December 30, 2018

Less personal income tax

China’s new individual income tax law is to take effect on Jan. 1, 2019, while the country has already raised the threshold for personal income tax exemption from 3,500 yuan (about $509.05) to 5,000 yuan per month and enforced new tax brackets in October.

To further reduce people’s tax burdens, the revised individual income tax law will also include additional deductions for those who have certain expenditures including children's education, continuing education, treatment for serious diseases, housing loan interests, rent and elderly care.


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(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Kou Jie, Bianji)

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