China ponders tax deduction for two-child family
Xinhua, March 8, 2017 Adjust font size:
China is pondering tax deduction for two-child family, Finance Minister Xiao Jie said Tuesday.
Xiao made the remarks at a press conference on the sidelines of the annual parliamentary session.
China is planning reform to its personal income tax regime, Xiao said, allowing certain expenditures to be deducted when calculating taxable income.
Certain expenditures of two-child families, for example education payments, are among the considerations that may be deducted, Xiao said.
Chinese lawmakers adopted an amended family planning law in the end of 2015, a historic move allowing all couples to have two children.