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China’s income tax cuts ‘important stimulus’ in push to stabilise economic growth

Summary:
[unable to retrieve full-text content]China will extend some personal income tax breaks, with certain measures to benefit high earners more, as the government seeks to encourage household spending as part of efforts to stimulate economic growth.Preferential taxes on year-end bonuses will stay in place until the end of 2023, lower taxation on equity incentives will continue through next year and exemptions on some tax payments will be given to low income earners, according to a State Council statement released on Wednesday.The…

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[unable to retrieve full-text content]
China will extend some personal income tax breaks, with certain measures to benefit high earners more, as the government seeks to encourage household spending as part of efforts to stimulate economic growth.Preferential taxes on year-end bonuses will stay in place until the end of 2023, lower taxation on equity incentives will continue through next year and exemptions on some tax payments will be given to low income earners, according to a State Council statement released on Wednesday.The…

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