PRC Individual Income Tax Law (4th Revision)

中华人民共和国个人所得税法 (第四次修正)

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Tax law revised to allow reduction and waiving of tax on savings interest.

Promulgated: June 29 2007
Effective: As of date promulgation

Main Contents: Article 12 of the Law is revised from "The time and procedures for collection of individual income tax on interest earned on savings deposits shall be stipulated by the State Council." to "The levy, reduction and waiving of individual income tax on interest earned on savings deposits and the specific measures thereof shall be stipulated by the State Council."

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