Income tax needs quick fix

Despite calls for the current threshold for individual income tax to be raised, the standard has remained unchanged since it was raised from 2,000 yuan ($307) to 3,500 yuan in 2011.

At a news conference on Monday, Finance Minister Lou Jiwei said that indiscriminately raising the threshold would be unfair and the government was considering various factors in taxation reform based on financial burdens, such as housing mortgages, expenditure on education and caring for elderly family members.

Lou's remarks should remind those calling for the tax threshold to be raised to change their perspectives on tax income.