China seeks public input on proposed tax threshold changes (4)

"If the threshold is 5,000 yuan, then only less than 10 percent of the working class will need to pay personal income tax," Jia said.
Also, under the draft amendment, the peak PIT rate of 45 percent will apply to those who earn a monthly salary higher than 82,000 yuan, down from the current 102,000 yuan.
"It delivers a clearer signal that the Chinese government is working to achieve fairer re-distribution of income among different groups," Jia said.
In a related development, the State Administration of Taxation (SAT) has ordered local bureaus to plug loopholes in the country's collecting of personal income taxes from high-income earners by strengthening coordination with other departments.
Income from the transfer of equity and houses, derived from auctions, interest returns, stock dividends and bonuses would become the main targets of taxation improvements, the administration said in a statement posted online on April 17.