男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Opinion

Cut tax to balance growth

(China Daily)
Updated: 2011-06-28 15:44
Large Medium Small

A higher minimum threshold for personal income tax is only a matter of time, as China's living standards improve along with its robust economic growth.

But Chinese legislators should keep in mind that a sense of urgency in this regard could make a big difference to the pace at which China embraces balanced and consumption-led growth.

Policymakers have tried to rein in the steady decline in people's incomes as a share of the country's ever-bulging gross domestic product (GDP), which is badly needed for the country to boost domestic consumption into a key growth engine as soon as possible.

Should household incomes keep shrinking in proportion to GDP, compared with government coffers and corporate profits, there will be no chance of China significantly reducing its dependency on exports and investment for growth.

Related readings:
Cut tax to balance growth Ministry stands firm on minimum taxation threshold
Cut tax to balance growth Income tax threshold kept at 3,000 yuan
Cut tax to balance growth China to amend individual income tax law
Cut tax to balance growth Govt gets earful of tax suggestions

The praise that the public lavished on the upward adjustment of the minimum threshold for personal income tax is fully understandable. Though not a sufficient policy response to their needs, consumers were reassured that the government understood their difficulties in covering their rising living expenses.

Meanwhile, however, there is public concern about the adequacy of such tax cuts. The Ministry of Finance has come up with a estimated price tag of about 120 billion yuan ($18.5 billion) for this round of tax cuts if the minimum threshold for personal income tax was increased from 2,000 yuan a month to 3,000 yuan a month.

After receiving a record number of public comments on the draft, more than 230,000, with merely 15 percent in favor of the proposed 1,000-yuan-increase in the minimum threshold, China's top legislators revealed a slightly revised draft amendment on Monday, instead of crossing the 3,000-yuan exemption threshold as expected by most online respondents.

Given their long-term anxiety about future fiscal growth, policymakers from the financial department might have good reasons to justify their entrenched preference for small and gradual steps rather than bold ones. Nevertheless, they also need to update their calculations in line with the economic reality.

If the 1,000-yuan rise in tax exemption threshold is reasonably based on the government prediction of an annual 8-percent increase in fiscal revenues, financial policymakers should be aware that China's fiscal revenue for the first five months of this year have already surged to 4.68 trillion yuan, up 32 percent from a year earlier.

Besides, the country's mounting inflationary pressure has also chopped domestic consumers' purchasing power more severely than expected so far this year.

A substantial tax cut has already come too late for many Chinese households. What a pity if it remains too little when it finally does arrive.

分享按鈕
主站蜘蛛池模板: 建德市| 辽宁省| 科技| 仪征市| 临高县| 息烽县| 红河县| 福安市| 搜索| 嵊泗县| 多伦县| 寻甸| 板桥市| 抚顺县| 太保市| 罗江县| 景宁| 吉木乃县| 丹东市| 卢湾区| 双江| 泉州市| 仙桃市| 修武县| 平阴县| 盐边县| 汝阳县| 探索| 怀仁县| 珲春市| 甘谷县| 菏泽市| 祁连县| 南宫市| 建瓯市| 黔西| 慈溪市| 鹿泉市| 永泰县| 济宁市| 无棣县| 吉木萨尔县| 鹤庆县| 香港 | 北辰区| 大余县| 达孜县| 楚雄市| 台东市| 凤凰县| 信宜市| 长沙县| 陕西省| 丰宁| 四子王旗| 上虞市| 白水县| 洛浦县| 绍兴县| 江津市| 东明县| 天峨县| 乡宁县| 吴忠市| 沿河| 望谟县| 盱眙县| 阳东县| 余江县| 宣武区| 田林县| 通江县| 长治市| 蕉岭县| 邵阳县| 榕江县| 民勤县| 承德市| 延边| 云梦县| 湘乡市| 观塘区|