Rational Taxation

Individual income tax reform is expected to narrow the gap between the rich and the poor People earning less than 2,000 yuan ($274)a month will not have to pay income tax in 2008.This is good news for Chinese breadwinners who have increasingly felt the pin- ch of rising prices in the past year. On December,23 2007,the draft amend- ment to the Law on Individual Income Tax was submitted to the Standing Committee of the National People's Congress(NPC),