Meditation on Personal Income Tax Law Revision

Personal income revision history is also China's 30 years reform history.It accurately records great progress of our country in past 30 years and reflects national attention to people's livelihood.However,a regulation involved in livelihood should take all groups into account as far as possible and choose appropriate democratic way of citizen expression.We must consider its era,but more to consider its stability.The revised Personal Income Tax system still have space to revise: not completely following principle of capacity to pay;No clearing distinction between profit and nonprofit income;reformation having simplified program and reduced cost,but also droved into unfair burden externality;not fully taking care of interests of low-income groups;withholding system being still valid;attending to threshold improvement but ignoring of level distance and marginal rate adjustment,focusing on wages,salaries but neglecting improvement of overall personal income system,system setup on personal income revenue having not yet performed transformation from organization of state financial income to regulation of social income distribution,and the personal income law yet not adjusting very well to play function of income distribution.And all this reform needs us to pay double efforts,but also need for personal income tax to do several times revised and reaching desired goals;not to step in place,but we must be clear,the individual income reform needs opportunity,needs more wisdom.