. "The Individual Income Tax in China (commonly abbreviated IIT) is administered on a progressive tax system with tax rates from 3 percent to 45 percent. As of 2019, China taxes individuals who reside in the country for more than 183 days on worldwide earned income. The system is separate from the income tax system of Hong Kong and Macau, which are administered independently. The taxpayers of individual income tax include both resident taxpayers and non-resident taxpayers. A resident taxpayer who has the obligation to pay taxes in full must pay individual income tax on all income derived from sources within or outside China. The non-resident taxpayer shall pay individual income tax only on the income derived or sourced from China. Individual income tax is a kind of income tax levied by the state on the income of citizens and individuals living in the country and the income derived from the country by individuals outside the country. In some countries, individual income tax is the main tax, accounting for a large proportion of fiscal revenue, and has a great impact on the economy. A draft amendment to the individual income tax law is submitted to the third session of the 13th National People's Congress standing committee for deliberation on June 19, 2018. It is the seventh overhaul of the tax law since it was introduced in 1980. The draft decision of the NPC standing committee on amending the individual income tax law was submitted to the fifth session of the 13th NPC standing committee for deliberation on August 27, 2018. According to the draft decision, the basic standard for deducting expenses is to be set at 60,000 yuan per year, or 5,000 yuan per month, with the new tax rate range from 3% to 45% unchanged. On August 31, 2018, the decision to revise the individual income tax law was passed, with the minimum threshold of 5,000 yuan per month and the latest threshold and tax rate implemented from Oct 1, 2018.[1]"@en . . "19497"^^ . . "Income tax in China"@en . . . . "The Individual Income Tax in China (commonly abbreviated IIT) is administered on a progressive tax system with tax rates from 3 percent to 45 percent. As of 2019, China taxes individuals who reside in the country for more than 183 days on worldwide earned income. The system is separate from the income tax system of Hong Kong and Macau, which are administered independently. On August 31, 2018, the decision to revise the individual income tax law was passed, with the minimum threshold of 5,000 yuan per month and the latest threshold and tax rate implemented from Oct 1, 2018.[1]"@en . . . . . . . . . . "59718000"^^ . . . . . . . . . . . . "1117019004"^^ .