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March 23, 2010

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Household Base For Income Tax?

CHINA will further study the feasibility of collecting income tax on a household basis, said Zhang Ping, director of the National Development and Reform Commission.

Ren Zhenglong, a deputy to the National People's Congress, proposed at the annual session of the top legislature this year that the current tax method, which is based on individuals and starts at a threshold of 2,000 yuan (US$292.8), should change.

Based on household, lower-income families may pay less tax if the household has members who have no source of income.


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