In addition, the remaining six proposed amendments to the MNE minimum tax act are on the global anti-tax base erosion rules and other revisions. The statement said that the Ministry of Finance regularly reviews my country's income tax system to...
In addition, the remaining six proposed amendments to the MNE minimum tax act are on the global anti-tax base erosion rules and other revisions.
The statement said that the Ministry of Finance regularly reviews my country's income tax system to better reflect the purpose of the policy and improve the administrative work of income tax.
The public can check and download the public opinion letter on the Ministry of Finance's website and email the opinions to the Ministry of Finance. The deadline for submission is July 11.
The Ministry of Finance pointed out on Wednesday (June 18) that there are 33 amendments to the proposed income tax bill, and 17 amendments to the minimum tax decree of multinational enterprises.
The proposed amendment proposed by the Ministry of Finance after a regular review of our country's income tax system includes exemption from income tax payments paid to individuals by the government to achieve social and economic goals, such as payments regarding retirement adequacy and skills improvement; and the Spouse Relief and Life Insurance Relief, which will be expanded to include legally separated wives and husband's life insurance premiums paid by the wife.
The Ministry of Finance plans to amend the Income Tax Act and the Multinational Enterprise (Minimum Tax) Act and launch a public consultation activity.
In addition to the tax measures announced in the 2025 Budget (16 amendments to the Income Tax Act), the proposed revisions include changes after the Ministry of Finance regularly reviewed our country's income tax system (17 amendments to the Income Tax Act), and some clarifications in accordance with Pillar II of the Global Anti-Base Erosion Rules (11 amendments to the Minute Tax Act of Multinational Enterprises).
Some of these revisions will enable tax measures announced in the 2025 Budget to take effect, including 50% corporate income tax rebate (the maximum cash subsidy is RMB 40,000) and 60% personal income tax rebate (the maximum limit is RMB 200), as well as tax incentives recommended by the Stock Market Review Group.
