On November 20th, Premier Li Keqiang presided over the State Council executive meeting. To promote the development of the maritime industry, adapt to the domestic demand for rapid growth of seafood, and learn from international practices, from January 1st of this year to the end of 2023, for ocean-going seafarers who sail for more than 183 days a year, their wages and salaries were reduced by 50% into the taxable income of the individual tax.
Some people have a general calculation: taking the monthly salary of the captain as $11,000 and working 6 months on the ship every year as an example, the annual salary income is about 480,000 yuan. Before the tax reduction, the annual income tax is more than 60,000 yuan, and after the tax reduction, the annual income tax is more than 10,000 yuan.
In order to improve the tax law system, the conference adopted the draft law of the People's Republic of China on urban maintenance and construction. The meeting decided to submit the draft to the Standing Committee of the National People's Congress of the People’s Republic of China for deliberation.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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