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Guangzhou Local Taxation Bureau plans to raise the bottom line for taxable income to 2,500 yuan (US$301.2) a month from next year, reports Guangzhou-based New Express News.
At present, Guangzhou residents who earn 1,260 yuan (US$151.81) have to pay personal income tax, compared to 1,600 yuan (US$192.77) and 1,400 yuan (US$168.67) in Shenzhen and Zhuhai.
The government has amended the tax policy considering the higher income level of local residents, said Luo Yuhong, director of Guangzhou Municipal Bureau of Local Taxation.
(China Daily HK Edition June 14, 2002)
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