Individual income tax exemption threshold adjusted to 3,000 yuan would be appropriate - Comprehensive Information - Wenzhou Human Resources Network

After the plan for the transformation of the VAT system was determined, the next step in tax reduction has become the focus of speculation. Recently, Vice Minister of Finance Wang Jun stated that the issue of the personal income tax threshold is currently under study. The Ministry of Finance will conduct a comprehensive study based on the situation regarding consumption expenditure and prices. Yang Weihua, Director of the Taxation and Financial Management Research Center at Sun Yat-sen University and a board member of the China Tax Association, calculated that the personal income tax deduction should ideally be between 2800 to 3000 yuan.

The personal income tax threshold may be raised again.

The Ministry of Finance recently announced on its website that it will further research and implement expanded consumption-related fiscal and taxation policies, and continue to promote tax system reforms.