Wages are fundamental to our survival, and everyone is concerned. From October 1, 2018, the starting point of individual income tax will be adjusted to 5000 yuan, and before October 1, the starting point of individual income tax will be 3500 yuan. What is the personal income tax rate? What is the calculation formula of personal income tax in 2018? Let's take a look at the latest income tax rate table.
Note:
1. The tax included and tax excluded intervals listed in this table are the income after deducting relevant expenses in accordance with the tax law;
2. The tax inclusive interval is applicable to the income of wages and salaries for which the taxpayer is responsible; the tax exclusive interval is applicable to the income of wages and salaries for which the tax is paid by others (units).
1、 Calculation formula of individual income tax
The calculation formula of wage individual income tax is: taxable amount = (wage and salary income - 'five insurances and one fund' - deductions) & times; applicable tax rate - quick calculation deductions
The starting point of the individual income tax is 3500 (5000 after October 1), and the calculation method of the excessive progressive tax rate is as follows:
[tax payment] = taxable income of the whole month * tax rate - quick calculation deduction
[actual salary] = payable salary - four gold - tax payment
[taxable income of the whole month] = (salary payable - four gold) - 3500
Here's a chestnut:
Individual income tax is levied at the beginning of 3500 yuan / month
Xiao Wang's wage income is 5000 yuan, and his personal income tax payable is (5000-3500) & times; 3% - 0 = 45 yuan