Personal income tax reform is an integral part of the reform of the fiscal and taxation system. From October 1, 2018 to December 31, 2018, taxpayers will calculate the tax amount proportionally based on the remaining income after deducting 5000 yuan from their monthly salary, salary scale and other income. However, since China's personal income tax accounts for only about 7% of the total tax revenue, it is only through the personal income tax reform to achieve a more reasonable goal of wealth adjustment, From this point of view, raising the threshold of individual income tax is only the first step to improve the income distribution system.
intended to illustrate that:
There is a long way to go to improve the income distribution system