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Original title: Simplified method of withholding and advance payment of taxes
Source: Economic Daily
The State Tax Administration recently issued the “Announcement to continue simplifying and optimizing the methods of withholding and prepayment of personal income tax for some taxpayers”, which optimizes the method of withholding and prepayment of taxes, and the January 1, 2021.
Today, individual taxpayers are basically familiar with the one-year cumulative withholding method. This method allows most taxpayers with a single income from wages and salaries to pay the tax in advance so that it is consistent with the tax due for the entire year, and it is not necessary to pay the tax in the following year. However, there is also such a situation, that is, some taxpayers whose annual income is less than 60,000 yuan are paid from one place. Although they do not have to pay taxes throughout the year, their income fluctuates a lot or the previous maximum each month. Due to the low-level reasons, the income of the whole year cannot be judged in the middle of the year, and the tax is withheld in a certain month or several months, and the tax refund is still required after the end of the year . So how do you reduce the tax burden on these taxpayers?
According to the announcement, for the resident persons who have withheld and prepaid personal income tax on wages and salaries of the same unit every month for the last full fiscal year and the annual income from wages and salaries does not exceed 60,000 yuan , the withholding agent will withhold and prepay current year’s wages. In the case of personal income tax on salary income, the accumulated deduction expenses will be calculated and deducted directly at the annual rate of 60,000 yuan from January. That is, in the month that the accumulated income of the taxpayer does not exceed 60,000 yuan, the individual income tax will not be withheld and will be paid in advance temporarily; In the month when the taxpayer’s accumulated income exceeds 60,000 yuan and the subsequent months of the year, the individual income tax will be withheld and paid in advance.
“Specifically, three conditions must be met at the same time.” The relevant head of the State Tax Administration said that, first of all, from January to December of the previous fiscal year, everyone worked in the same unit and withheld and paid in advance the personal income tax on wages and salaries. ; It is the accumulated income from wages and salaries from January to December of the previous fiscal year (including all types of wages and salaries, such as one-time annual bonuses, without deduction of expenses and tax-free income) that does not exceed 60,000 yuan; third, the current fiscal year Since January, he continues to work in the unit and receive wages and salaries.
For example, Xiao Zhang is an employee of Unit A and received a salary of 50,000 yuan from Unit A from January to December 2020. The unit has handled a complete personal income tax return for all employees from January to December 2020. In 2021, Unit A will pay you a salary of 10,000 yuan in January and a monthly salary of 4,000 yuan from February to December. Without taking into account various deductions, such as “three insurance and a housing fund”, according to the original withholding and prepayment method, the small sheet must prepay the individual tax in January (10000-5000) × 3% = 150 yuan , and no prepayment in other months. Individual tax: After the annual settlement, because your annual income is less than 60,000 yuan, a tax refund of 150 yuan can be paid by reconciliation. After adopting the new pre-withholding and prepayment method stipulated in the announcement, Xiao Zhang can directly deduct the 60,000 yuan annual cumulative deduction fee from January with no prepayment of taxes. At the end of the year, it is not necessary to go through the final agreement.
In an interview with reporters, Bai Yanfeng, Dean of the Faculty of Finance and Taxation at the Central University of Finance and Economics, said: “This reform further simplifies tax administration and collection procedures, makes it easier for taxpayers and provides more convenience and benefits of tax reform to low and middle income groups, so that qualified taxpayers have the right to control their disposable income in advance. “
Bai Yanfeng believes that due to the relatively high marginal propensity to consume among low and middle income groups, this new regulation can promote early consumption and investment and accelerate the domestic cycle.
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Editor in charge: Deng Jian
