China and taxes

 

JULY 22, 2011 Friday  China Exempts More from Taxes to Ease Income Gap China plans to raise the threshold for the lowest income-tax bracket from $305 (U.S.) per month to $460 in an effort to reduce a widening income gap, according to China Economic Review. Individual income taxes provided just 6.8% of overall government revenue in 2010, in part because of pervasive tax evasion, the publication says. Source: Government cuts taxes on poor, raise for rich