The proposal of raising the threshold of personal income tax to 5,000 yuan has been accepted for further review, said Li Dongsheng, deputy of National People's Congress and board chairman of TCL Group, on Mar. 10.
Li said that he carried out a detailed survey about the plan to raise the personal income tax entry level to above 5,000 yuan. He noted that he asked for public opinion about hot topics via Weibo before the opening of the annual NPC and CPPCC sessions, and he found that the one-month survey showed that the proposal of raising the personal income tax threshold received high attention with 13,000 responses.
Li said that this topic has been taken as the proposal for this year as it attracted the highest attention, and that when being discussed in group meetings, it was supported by nearly all deputies.
Li told reporters that the proposal of raising the threshold of personal income tax to 5,000 yuan is actually desired by most netizens and voters. He said he had no knowledge that the State Council was also considering to raise the threshold of taxable personal income when he came to attend the meeting. Li noted that someone proposed to raise the threshold to 10,000 yuan, but he thought 5,000 yuan not only will help the low and middle-income groups but also can be acceptable for the country's fiscal position. Li believes that the living costs of most urban residents have reached 3,500 to 5,000 yuan per capita, not including the expenses for supporting parents and raising children. People who earn about 5,000 yuan monthly represent the main force of wage earners. Therefore, raising the threshold of personal income tax to 5,000 yuan can benefit more people.
Li said his idea is now an official proposal after receiving support from 35 NPC deputies in a very short time, and it has been accepted for review.
