China's reduction in individual income tax has notably eased the burden on low-income groups, with over 70 percent of individuals having comprehensive income exempt from taxation in 2023, according to the data released by the State Taxation Administration on Tuesday.
According to the data, among the remaining less than 30 percent individuals who paid taxes in 2023, over 60 percent were subject to the lowest tax bracket of three percent.
China voted to adopt the revised Individual Income Tax Law in 2018 in an effort to pursue fairer income distribution.
The new law states that the minimum threshold for personal income tax exemption will be raised from 3,500 yuan (about 492 U.S. dollars) to 5,000 yuan (about 703 U.S. dollars) per month.
China's special individual income tax deductions are designed to lower the tax burden for those who have certain expenditures covering areas such as children's education, continuing education, medical treatment for serious diseases, housing loans, rent and elderly care.
"The individual income tax deduction has played an effective role in benefiting low-income groups. The tax payments based on comprehensive income have shown that the low-income groups pay little or no taxes thanks to the tax reform," said Li Ping, deputy director with the Institute of Tax Science of the administration.
"The 5,000 yuan threshold for personal income tax exemption stands at a comparatively high level globally, and can sufficiently cover the basic consumption expenditures. The current deductions for individual income tax in our country have evolved into a relatively comprehensive system, taking into account taxpayers' tax-paying capacity while also aligning with the nation's social and economic policies," said Li.
China's individual income tax reduction significantly alleviates burden on low-income groups
The organizing committee of the Milano-Cortina 2026 Paralympic Winter Games has unveiled the titles, creative visions, and first talents of the opening and closing ceremonies, as Thursday marked 50 days before the event officially gets underway.
Scheduled from March 6 to 15 across multiple Italian cities, the Games will bring together 665 athletes from 50 countries and regions to compete for 79 gold medals across six sporting disciplines.
The opening ceremony, titled "Life in Motion," will be staged at the historic Arena di Verona, a UNESCO World Heritage Site, presenting a tribute to change and transformation that seeks to redefine disability through a new harmony between people and the environment.
"I paid close attention to the opening ceremony of the Beijing Winter Olympics, which I consider one of the three or four most beautiful in the history of Olympic ceremonies. This time at the ancient Arena di Verona, we will place greater emphasis on showcasing the human element," the ceremonies' artistic director Alfredo Accatino told a Chinese reporter at the event.
The closing ceremony, themed "Italian Souvenir," will be held on March 15 at the Cortina Curling Olympic Stadium, guiding athletes, volunteers, and fans through a journey that captures the emotions and memories of the Games after days of competition and achievement.
Craig Spence, the International Paralympic Committee's Chief Brand and Communications Officer, believes that Italy will deliver "the best Paralympic Games" following the benchmark set by the Beijing Winter Paralympics in 2022.
"I think what China did in Beijing has really set the benchmark for all future teams competing in the Paralympic Winter Games in terms of performance. That's why I think Milano-Cortina will be the best Paralympic Games we've ever seen for sports," he said.
Milano-Cortina Paralympics reveal opening, closing themes as Games draw near
