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China's cabinet unveils new measure to reduce individual tax burdens: state TV - Metro US

China’s cabinet unveils new measure to reduce individual tax burdens: state TV

BEIJING (Reuters) – China’s cabinet said on Wednesday that authorities will exempt final settlement for individual tax-payers for two years, if their annual income is lower than 120,000 yuan ($17,060.48), in a bid to further reduce individual tax burdens.

The announcement came during a State Council Meeting chaired by the country’s Premier Li Keqiang.

(Reporting by Beijing Monitoring Desk)

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