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CHENGDU, Dec. 27 (NBD) -- China's scheme for individual income tax reform has taken shape, the Ministry of Finance said last Friday. 

Distribution of state revenue, tax system, expense deduction, tax brackets, and administration on tax collection will be focuses of the reform. 

The new tax system is expected to combine classified with comprehensive income tax systems. Meanwhile, the authority will ramp up its efforts to revise the Law on the Administration of Tax Collection and build an individual income and financial information system, the Ministry of Finance noted. 

The scheme is estimated to be released next year. 

 
Editor: Lan Suying