Paying personal income tax is an important sign of citizens' economic independence. As a citizen with tax qualification, his income should be in the forefront of the country. After the reform of the tax law, a new personal tax rate table will be implemented. The personal income tax rate table 2019 is closely related to people's income. Let's take a look at the specific calculation method.
New income tax rate table
The new personal income tax adopts the calculation method of cumulative withholding and prepayment, and the calculation formula is as follows:
Amount of tax to be withheld in this month = (accumulated amount of tax to be withheld in this month * withholding tax rate - quick deduction) - accumulated amount of tax deduction - accumulated amount of tax withheld
This month's accumulated withholding tax income = accumulated income - accumulated tax exempt income - accumulated deduction expenses - accumulated special deduction - accumulated special additional deduction - accumulated other deductions determined according to law
Where: cumulative deduction of expenses = 5000 * months
In January 2019, Party A will get a salary of 30000 yuan, and the individual will bear 4000 yuan of "three insurances and one fund", with a special additional deduction of 2000 yuan (no other deductions); in February 2019, Party A will also get a salary of 30000 yuan, and the individual will bear 4000 yuan of "three insurances and one fund", with a special additional deduction of 2000 yuan (no other deductions). Q: how much individual income tax was withheld in January and February?
The individual income tax is calculated according to the cumulative withholding and prepayment method, and the special surcharges can be deducted.
Tax payable in January = (30000-4000-5000-2000) & times; 3% = 570 yuan;
February tax payable = [(30000 + 30000) - (4000 + 4000) - 5000 & times; 2 - (2000 + 2000)] & times; 10% - 2520-570 = 710 yuan.
The above is the calculation method of cumulative withholding method. Formulas and examples can help us learn how to calculate our personal tax amount. This year, the starting point of personal income tax and special additional deduction are the highlights of personal income tax reform, and most people will benefit from it.