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Nanjing Daily says wage earners in Nanjing city of Jiangsu province have saved 1.5 billion yuan in the first half of 2012 after the individual income tax threshold was changed in September 2011. The amended individual income tax law issued last year increased the threshold of income tax exemption from 2,000 yuan to 3,500 yuan, expanding the tax exemption group by 34 percent. |
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