A family takes photos against a backdrop of blooming sunflowers at the Olympic Forest Park in Beijing, on July 4, 2021. (PHOTO / XINHUA)
BEIJING – China has announced tax-relief policies for parents rearing children under 3 years old, according to a State Council circular issued on Monday.
Starting Jan 1, 2022, the individual taxable income of such parents can be reduced by a total of 1,000 yuan ($157) per month for each baby, said the circular.
The deduction can be applied in full by one parent or can be split evenly, added the circular.
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The policy is the implementation of a decision on improving birth policies to promote long-term and balanced population development, which was adopted by the Communist Party of China Central Committee and the State Council in July.