According to the latest data from the State Administration of Taxation, October saw 31.6 billion yuan ($4.58 billion) of person income tax cuts. The threshold was raised to 5,000 yuan ($714) and the scope of the low-grade tax rate was expanded, with six additional special deductions.The special deduction will be officially implemented from January 1, 2019. It is ex-pected to increase the disposable income of residents and stimulate consumption. These improvements, which increase the
展开▼
