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he Standing Committee of the Tenth National People's Congress decided to make the following amendments to the Law of the People's Republic of China on Individual Income Tax at its 18th session: I. Item (1) of Paragraph 1 of Article 6 shall be amended as: "For incomes of wages and salaries, the taxable income amount shall be the remainder after deducting 1600 yuan from the monthly income." At the same time, the annotations in the Schedule I "Individual Income Tax Rates" shall be correspondingly amended. II. Article 8 shall be amended as: "The income earner shall be the taxpayer of individual income tax and the unit or person that effects the payment shall be the withholding agent. Where the individual income exceeds the amount as prescribed by the State Council, where a taxpayer has wage or salary incomes from two or more places or has no withholding agent, or where there is any other circumstance as prescribed by the State Council, the taxpayer shall handle the tax payment declaration according to the provisions of the state. A withholding agent shall, according to the provisions of the state, make the withholding declaration for all the taxpayers and in full amount." This Decision shall come into force as of January 1, 2006. The Law of the People's Republic of China on Individual Income Tax shall be re-promulgated after it has been revised according to this Decision. |
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