From January 1, 2019, the individual income tax of residents' personal wages, salaries, labor remuneration, remuneration and royalties will be calculated according to the tax year. Let's take a look at the new 2019 personal tax rate table and the 2019 personal tax calculation formula!
New individual income tax calculation formula (individual income tax threshold 5000)
=ROUND(MAX((C1-C2-C3-C4-C5-C6-C7-5000)*{0.03,0.1,0.2,0.25,0.3,0.35,0.45}-{0,210,1410,2660,4410,7160,15160},0),2)
Old version of individual income tax calculation formula (individual income tax threshold 3500)
=ROUND(MAX((C1-C2-3500)*{0.03,0.1,0.2,0.25,0.3,0.35,0.45}-{0,105,555,1005,2755,5505,13505},0),2)
Of which:
C1 = pre tax salary;
C2 = individual contribution of five insurances and one fund;
C3 = special deduction for children's education (up to 1000 yuan / month);
C4 = special deduction for continuing education (up to 400 yuan / month);
C5 = medical deduction for serious illness (up to 5000 yuan / month);
C6 = special deduction of housing loan interest and housing rent (up to 1000 or 1200 yuan / month);
C7 = included in the special additional deduction of expenses for supporting the elderly (up to 2000 yuan / month);
For example:
The pre tax salary of an executive is 50000 yuan / month, the personal part of five insurances and one fund is 4000 yuan, the special deduction for children's education is 1000 yuan, the special deduction for housing loan interest is 1000 yuan, and the expenditure for supporting the elderly is included in the special additional special deduction of 1000 yuan. Then:
Calculation of individual income tax in previous version:
Individual income tax = round (max ((50000-4000-3500) * {0.03,0.1,0.2,0.25,0.3,0.35,0.45} - {0105555105105275550513505}, 0), 2) = 9995 yuan
New individual income tax calculation:
Individual income tax = round (max ((50000-4000-1000-1000-1000-5000) * {0.03,0.1,0.2,0.25,0.3,0.35,0.45} - {0210141026604410716015160}, 0), 2) = 6990 yuan
Compared with the old individual income tax, the new individual income tax can pay 9995-6990 = 3005 yuan less, which can save a considerable amount of expenses.