Original title: the deduction of personal income tax will be recognized in 2020, and there is no need to pay individual income tax if the monthly income is less than 10000 yuan
In order to simplify the operation process and effectively reduce the tax burden, the tax authorities have filled in the relevant information in advance, and only need to check and correct the relevant information through mobile app, web page and other channels. If there is no change, in order to reduce the burden on the majority of taxpayers, the tax authorities will further simplify the operation process, and the deduction information filled in will be automatically deemed valid and extended to 2020.
Since October 1, 2018, the standard for basic deduction of personal income tax expenses has been increased to 5000 yuan / month (60000 yuan / year). On January 1, 2019, the special additional deduction policy of individual income tax was officially implemented, and eligible taxpayers can enjoy six additional deductions from college, including children's education, continuing education, serious illness medical treatment, housing loan interest, housing rent and supporting the elderly.
Zhang Yiqun, vice chairman of China's Special Committee on financial budget performance, told Securities Daily that the reform of individual income tax has the direction of tax reduction. In particular, with the implementation of the special additional deduction policy this year, taxpayers have enjoyed the benefits brought about by tax reduction.
According to the data of the State Administration of Taxation, in the first three quarters, 442.6 billion yuan of tax reduction was added in the reform of personal income tax, with an accumulated tax reduction of 1764 yuan per capita, benefiting 250 million taxpayers.
Wang Jun, director of the State Administration of Taxation, said that the reform of individual income tax has benefited more middle and low-income groups and promoted the fairness of income distribution. For taxpayers with an average monthly income of more than 40000 yuan, the new tax reduction range is less than 12.5%; for taxpayers with an average monthly income of less than 20000 yuan, the new tax reduction rate is more than 67.47%; taxpayers with a monthly income of less than 10000 yuan are basically not required to pay personal tax after enjoying special additional deductions such as supporting the elderly and children's education.
It is worth noting that according to the notice on the convergence of preferential policies after the amendment of the individual income tax law issued by the State Administration of taxation at the end of last year, the annual one-time bonus obtained by taxpayers during the period from January 1, 2019 to December 31, 2021 may not be included in the current year's comprehensive income. The total amount of bonus divided by the amount of 12 months is determined according to the monthly tax rate table of comprehensive income In order to avoid some taxpayers from raising the applicable tax rate after the annual lump sum bonus is incorporated into the comprehensive income, the applicable tax rate shall be calculated separately.
Experts believe that for some middle and low-income people, if the annual one-time bonus is incorporated into the current year's salary income, after deducting basic expenses, special deductions, special additional deductions, there may be no need to pay taxes or pay very little tax. In this case, if the annual lump sum bonus is taxed separately, the tax payable or tax burden will be increased. At the same time, if the annual one-time bonus policy is applied separately, there may be a "critical point" phenomenon of tax burden suddenly increasing when the tax rate changes.
Therefore, residents who have obtained the annual one-time bonus can choose the tax calculation method and judge whether to incorporate the annual one-time bonus into the comprehensive income tax calculation, so as to enjoy the tax reduction dividend.