China Does Away With Personal Income Tax |
| September 01, 2011 | September 2011 Bond Updates |
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China's new personal income tax law goes into affect Thursday, knocking 60 million people off federal income tax rolls, China Daily reported. According to the new law, people with monthly personal incomes under 3,500 yuan ($541) after social security income, medical and unemployment insurance benefits are deducted will no longer need to pay personal income tax. |
| View more at: http://www.forbes.com/sites/kenrapoza/2011/08/31/china-does-away-with-personal-income-tax/ |
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