China might reduce or exempt interest income tax

时间：2007-06-29 00:20:05

（单词翻译:单击）

Chinanews, Beijing, June 28 – This reporter has learned form the 28th session of the Tenth NPC Standing1 Committee, held on Wednesday, that China might reduce or exempt2 the interest income tax, a tax which has been imposed in this countryfor eight years,

 

Entrusted3 by the State Council, Minister of Finance Jin Renqing recently made explanations on some points in one related draft.

 

In order to adapt to the changes of the national economy and social development, and to increase the interest gains of depositors, the State Council, after careful consideration and discussions, had worked out a the drafted resolution on reduction or exemption4 of the interest tax. The NPC Standing Committee has empowered the State Council to approve the proposal of reducing or exempting5 the interest gains tax, Jin said.

 

“New changes are taking place in Chinese society. Fixed6 assets investment is growing rapidly and CPI is on the rise. The interest incomes of Chinese depositors is becoming relatively7 smaller,” the Finance Minister said.

 

Right now, the State Council has approved the draft resolution and handed it over to the NPC Standing Committee for discussion.

 

Chinese economy has been growing rapidly. As a result, the national fiscal8 revenue has also increased. Under this situation, Chinese finance departments can “withstand the loss incurred9 by the reduction or exemption of interest gains tax,” Jin said.

 

By the end of 2006, China had collected 214.64 billion yuan of interest tax.

 

“The interest income tax once played a positive role in encouraging consumption, moderating individual incomes, and increasing the national fiscal revenue,” Jin noted10.

 

On June 29, participants in the 28th session of the Tenth NPC Standing Committee will vote for the proposal. If the proposal is passed, the State Council will start to reduce or exempt the interest income tax in linear of the needs of the country's economic and social developmental.

 
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1 standing 2hCzgo     
n.持续，地位；adj.永久的，不动的，直立的，不流动的
参考例句：
  • After the earthquake only a few houses were left standing.地震过后只有几幢房屋还立着。
  • They're standing out against any change in the law.他们坚决反对对法律做任何修改。
2 exempt wmgxo     
adj.免除的；v.使免除；n.免税者，被免除义务者
参考例句：
  • These goods are exempt from customs duties.这些货物免征关税。
  • He is exempt from punishment about this thing.关于此事对他已免于处分。
3 entrusted be9f0db83b06252a0a462773113f94fa     
v.委托，托付( entrust的过去式和过去分词 )
参考例句：
  • He entrusted the task to his nephew. 他把这任务托付给了他的侄儿。
  • She was entrusted with the direction of the project. 她受委托负责这项计划。 来自《简明英汉词典》
4 exemption 3muxo     
n.豁免，免税额，免除
参考例句：
  • You may be able to apply for exemption from local taxes.你可能符合资格申请免除地方税。
  • These goods are subject to exemption from tax.这些货物可以免税。
5 exempting 4f616cbc867c6529f2300ceadb70e506     
使免除[豁免]( exempt的现在分词 )
参考例句：
  • EPA adopted regulations exempting discharges from agricultural activities, with certain exceptions for relatively major pollution sources. 环境保护局采用管制规章，禁止源自农业活动的各种排放，对于一些相关的大型污染源也有例外。 来自英汉非文学 - 环境法 - 环境法
6 fixed JsKzzj     
adj.固定的，不变的，准备好的；(计算机)固定的
参考例句：
  • Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
  • Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。
7 relatively bkqzS3     
adv.比较...地，相对地
参考例句：
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。
8 fiscal agbzf     
adj.财政的，会计的，国库的，国库岁入的
参考例句：
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
9 incurred a782097e79bccb0f289640bab05f0f6c     
[医]招致的，遭受的； incur的过去式
参考例句：
  • She had incurred the wrath of her father by marrying without his consent 她未经父亲同意就结婚，使父亲震怒。
  • We will reimburse any expenses incurred. 我们将付还所有相关费用。
10 noted 5n4zXc     
adj.著名的，知名的
参考例句：
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。

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