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Gray Income
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A remark of "regulating off-the-books income" at page 24 of this year's Government Work Report drew discussions and debates among the members of the Chinese People's Political Consultative Conference, or CPPCC.
The off-the-books income refers to grey income. The first focus of the dabate is the definition of the term. Namely to say, what is grey income? Most people in China deem that grey income means kickbacks, red packets and something like those. For example, some doctors take red packets from patients except the operation fee. The red packets some doctors have taken are called grey income.
The second concern is if the grey income is legal, which leads to the regulation issue. If it's legal, it needs regulating, or vice versa. Some political advisors think that it's illegal because no one paid taxes for taking the extra money, and it also enlarges the income gap that can lead to social instability.
I think the grey income brings about social inequity, impedes fair competition and infringes people's legitimate interest, which should be defined as illegal and cracked down.
The off-the-books income refers to grey income. The first focus of the dabate is the definition of the term. Namely to say, what is grey income? Most people in China deem that grey income means kickbacks, red packets and something like those. For example, some doctors take red packets from patients except the operation fee. The red packets some doctors have taken are called grey income.
The second concern is if the grey income is legal, which leads to the regulation issue. If it's legal, it needs regulating, or vice versa. Some political advisors think that it's illegal because no one paid taxes for taking the extra money, and it also enlarges the income gap that can lead to social instability.
I think the grey income brings about social inequity, impedes fair competition and infringes people's legitimate interest, which should be defined as illegal and cracked down.
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Post comment Comment (13 replies)
- Reply gavinhochina
- If it is illegal, it should be banned.
- Reply s10004
- As the definition,the YaSuiQian is regared as a kind of grey income!All my grey income was confiscated by my mother this year
- Reply ill_sounz
- Grey income might have some pros and cons. If it includes microfinance, and money made by micro business initiatives (ie. people selling stuff on the side of the road) it can be a form of empowerement to people that have no other economic opportunity. This is my experience in other parts of the world, I'm not completely sure 'grey income' includes these things in China.
- Reply Samaritan
- ill_sounz: Grey income might have some pros and cons. If it includes microfinance, and money made by micro business initiatives (ie. people selling stuff on theI don't think it includes what you said.
