Full Text Translation - 26th August 08

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    Circular on Issues Relevant to the Revision of the Rates of Pre-tax Deductions from Individual Income Tax of Family Proprietorships, Wholly Individually-owned Enterprises and Partnerships

    Circular on Issues Relevant to the Revision of the Rates of Pre-tax Deductions from Individual Income Tax of Family Proprietorships, Wholly Individually-owned Enterprises and Partnerships
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    The rate for the deduction of the expenses before individual income tax of the owners of family proprietorships and of investors in wholly individually-owned enterprises and partnerships is uniformly set at Rmb24,000 per year (Rmb2,000 per month).
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