Beijing, June 1 (IANS) The Chinese government has received 240,000 suggestions after proposed tax changes were published online, a media report said Wednesday.
The draft amendment to the Personal Income Tax Law was put online April 25, China Daily said Wednesday. The amendment proposes to cut the number of tax brackets from nine to seven.
The report said that if the amendment turns into law, it will benefit over 200 million people. The move will also boost the spending power of middle and low-income earners.
‘Once passed, the suggested changes can be adopted very soon,’ Chen Sixi, a senior official, told China Daily.
