September 1, 2011, the new "People’s Republic of China personal income tax law" began to implement. Recently, reporters from Xining to the Inland Revenue Department was informed that as of the end of September this year, Xining City Bureau of total storage levy personal income tax 311 million 320 thousand yuan, year-on-year reduction of 47 million 330 thousand yuan.
policy over the past year, the personal income tax structural tax effect, fully reflects the positive role in the redistribution of income tax, personal income tax cut high – low "role gradually.
it is reported that, according to the new tax law, wages, salaries income deduction standard from 2000 yuan per month to raise to $3500, the level of the progressive tax rate of the structure was modified to level 7, the corresponding distance has also been adjusted to the level of 9. In order to reduce the tax burden low-income people in our province, the tax department since September 1, 2011, the province of individual industrial and commercial households personal income tax levies rate from 1% adjusted to 0.5%, reduce the tax burden low-income people to a certain extent, and increase of the high-income tax collection efforts, reduce income distribution gap. (author: Yang Jian)