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COPYRIGHT 2007 Asia Pulse Pty Ltd
BEIJING, Dec 31 Asia Pulse - China's top legislature on Saturday adopted an amendment to raise the individual income tax threshold from 1,600 yuan (US$219) a month to 2,000 yuan (US$274), a change intended to ease the burden of medium- and low-income earners facing higher living costs.
The amendment will go into effect as of March 1, 2008.
The change will reduce government revenues by 30 billion yuan a year, according to official statistics. But it will also mean...
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