Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Aug. 21 (Xinhua) — Subsidies paid under China's national child care subsidy system will be exempt from personal income tax (PIT) from Jan. 1, 2025, according to a notice released by the Ministry of Finance and the General Administration of Taxation on Wednesday.
To ensure the implementation of the relevant provisions, the country's health authorities will cooperate with the financial and tax authorities to establish an information exchange mechanism. County-level health authorities will process applications for exemption from personal income tax for persons applying for the said subsidies in accordance with the relevant regulations.
China previously announced it would introduce a national child care subsidy system as part of the country's broader efforts to support families and encourage more children. Starting from Jan. 1, 2025, the program will pay families 3,600 yuan (about $504) a year for each child under three. -0-
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