Study of the "Fly in the Ointment" in China's New Income Tax Reform

DOI

10.2991/edmi-19.2019.45How to use a DOI?

Keywords

New personal income tax reform; Special additional deduction; irrationality.

Abstract

On October 20, 2018, the Ministry of Finance and the State Administration of Taxation, together with relevant departments, drafted an “Interim Measures for Special Additional Deduction of Individual Income Tax (Draft for Soliciting Opinions)” and publicly solicited opinions from the society. That is to say, when calculating taxable income in the future, after deducting 5,000 yuan of basic deduction fee and "three insurance and one fund", we can continue to enjoy six special additional deductions, namely, children education, continuing education, serious illness medical treatment, interest on housing loan or rent, and support for the elderly. This policy sounds good, but there is many unreasonableness in it.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Liping Xu
PY  - 2019/08
DA  - 2019/08
TI  - Study of the "Fly in the Ointment" in China's New Income Tax Reform
BT  - Proceedings of the 1st International Symposium on Economic Development and Management Innovation (EDMI 2019)
PB  - Atlantis Press
SP  - 279
EP  - 281
SN  - 2352-5428
UR  - https://doi.org/10.2991/edmi-19.2019.45
DO  - 10.2991/edmi-19.2019.45
ID  - Xu2019/08
ER  -