BEIJING — Premier Li Keqiang on Sept 6 presided over a State Council executive meeting, which decided to make supporting measures for implementing a newly revised law on individual income tax.
China will implement the revised law approved last week as scheduled and step up efforts to specify the concrete scope and standards of special deductions to reduce people’s burden, according to a statement after the meeting.
The government will also improve policies to ensure that the general tax burden of venture capital funds does not increase, the statement said.
At the meeting, arrangements were also made to create an upgraded version of mass entrepreneurship and innovation to boost employment, promote scientific and technological innovation and raise the vitality of industrial development.
A draft amendment to the patent agency regulations was approved at the executive meeting.