Taxes Around the World

Some international tax news today. China is doling out tax relief to the poor by increasing the income threshold for workers who are required to pay taxes.  Those earning less than $540/mo. are exempt from income taxes now, whereas the threshold used to be $300/mo. This change will affect approximately $60 million people. Meanwhile, in Portugal the government announced extra taxes this year to help lower the nation’s debt. And Switzerland is raising taxes for rich foreigners.

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