Personal income adjustment tax is a tax levied on China citizens who have residence in China and obtain personal income. 1September, 1986, the State Council issued the "Provisional Regulations on Personal Income Regulation Tax in People's Republic of China (PRC)".
Its main purpose is to adjust the income level among citizens and reflect social equity. Promote the stable development of the national economy and social stability.
Taxable items include eight items: wages and salary income; Revenue from contracting and subcontracting; Income from labor remuneration; Property rental income; Income from patent right transfer, patent license, non-patented technology provision and transfer; Contribution and translation income; Interest, dividends, bonus income and other income determined by the Ministry of Finance for taxation. Implement a classified collection system.
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Tax payment method
Personal income adjustment tax adopts progressive tax calculation method, and all personal income (salary and bonus income) is deducted from the paid four gold expenses according to regulations.
After deducting 1000 yuan, the tax base is 5%, 500-2000 yuan, 10%, 2000-5000 yuan, 15% and 5000-20000 yuan within 500 yuan.
The method of withholding and remitting by the unit means that the unit must withhold and remit the wages and bonuses in accordance with the regulations. If there is underpayment or omission, the unit must bear the responsibility and be fined.
There are two methods: withholding from the source of the payment unit and taxpayers' self-declaration of tax payment. Where the amount paid to the taxpayer by the unit that pays the taxable income reaches the tax standard, the tax deduction is allowed according to law.
At the same time, the tax must be withheld and remitted according to the nature of the source of income and relevant regulations, and a tax payment certificate must be issued to the taxpayer. Taxpayers must declare and pay taxes on income that belongs to comprehensive income, regardless of whether personal income has been deducted. If the consolidated comprehensive income meets the tax payment standards, the withholding tax may be deducted from the taxable amount by the tax payment certificate.
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