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Jan. 18, 2006
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| Solemn Statement Made by Wang Jiping, Chief of Beijing Local Taxation Bureau & Beijing Delegate of People¡¯s Congress |
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Respectable Taxpayers:
The report on Individual Income Tax to Be Levies on Housing Accumulation Fund by Beijing Times on Jan. 18, 2006 is highly distorted and totally misleading. The state has stringent policies and regulations on the levy of individual income tax. As the standard deduction for wages or salaries increases, what need liquidating or correcting is unauthorized allowance or subsidy given by local departments and units, and does not include tax reduced or exempt items according to the national uniform regulations. As to housing accumulation fund conforming to the national regulations, individual income tax will also be exempted.
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Beijing Local Taxation Bureau
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