China's Personal Income Tax Reform Set to Simplify Tax System
The article discusses the need for reform in China's personal income tax system due to increasing social issues. It analyzes the current system's shortcomings and proposes ideas for future reform. China's personal income tax system is classified into single tax, dual tax, and consolidated income tax systems. The single tax system has a single tax rate, consumption tax base, and clean tax base. Most tax items are taxed at a 20% rate, simplifying the process.