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The State Tax Administration further simplified and optimized the methods of withholding and prepaying personal taxes for some taxpayers:
There will be new changes to individual tax withholding starting next year
New changes have been made to individual withholding tax. The State Administration of Taxation recently issued the “Announcement to further simplify and optimize the methods of withholding and advance payment of individual income tax for some taxpayers”, which simplifies the method of withholding and advance payment of individual taxes for taxpayers whose annual income does not exceed 60,000 yuan and avoids the “first advance payment” The problem of “repayment again” will be implemented from January 1, 2021.
According to the “Announcement”, for taxpayers who meet the requirements of the “Announcement”, when the withholding agent withholds and pays in advance the personal income tax for the fiscal year, the accumulated deduction rate will be calculated directly and will be deducted 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.
Experts predict that low- and middle-income groups will benefit from new withholding and prepayment methods. Specifically, the withholding and prepayment methods have been optimized for two types of taxpayers:
One is the resident natural person who has deducted and declared personal income tax on wages and salaries in the same unit every month for the last full tax year, and the annual income from wages and salaries did not exceed 60,000 yuan. Specifically, three conditions must be met at the same time: the previous tax year worked in the same unit from January to December and the personal income tax was withheld and declared for wages and salaries; the salary and salary income accumulated from January to December of the previous tax year (including all the one-time bonus and other miscellaneous salaries and wages, without deduction of expenses and tax-free income) shall not exceed 60,000 yuan; Since January of this fiscal year, they are still employed by the unit and receive wages and salaries.
Second, resident natural persons who withhold and prepay personal income tax on labor service remuneration according to the cumulative withholding method, such as insurance sellers and securities brokers. Three conditions must also be met at the same time: from January to December of the previous fiscal year, they were paid in the same unit and the personal income tax on labor compensation was withheld and prepaid according to the accumulated withholding method ; the amount accumulated from January to December of the previous fiscal year. Labor compensation (without deduction of expenses and tax-free income) does not exceed 60,000 yuan; As of January of this fiscal year, the unit still derives the earned compensation income from the withholding and advance payment of taxes according to the accumulated withholding method.
Specifically, where is the optimization? Let’s take Xiao Zhang as an example:
Xiao Zhang is an employee of Unit A. From January to December 2020, he received a salary of 50,000 yuan from Unit A. The unit filed 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. The annual salary income is 54,000 yuan. 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 advance payment is required for the 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 withholding and prepayment method, Xiaozhang can directly deduct the annual cumulative deduction fee of 60,000 yuan from January without tax prepayment. In the second year, it is not necessary to go through the final agreement, which simplifies the tax process.
Furthermore, people whose wages in the previous fiscal year did not exceed 60,000 yuan, and whose wages increased this year and exceeded 60,000 yuan, only need to start withholding and prepaying when their accumulated monthly income exceeds 60,000 yuan, and also they can benefit from the new method.
After the implementation of the new method, how should the withholding agent operate? The competent head of the State Tax Administration explained:
If the withholding client of the electronic tax office for individuals and the web retention function of the electronic tax office for individuals is used for the return, when the withholding agent calculates and withholds personal income tax in January of this year, the system will automatically follow the previous year’s withholding statement. After summarizing and submitting the list of employees who can meet the conditions, the withholding agent can withhold and prepay the personal income tax according to the method specified in this “Announcement” after checking and confirm according to the actual situation. If a paper return is adopted, the withholding agent must determine the taxpayers who meet the “Announcement” requirements based on the withholding statement from the previous year, and then run this announcement and start with the withholding tax return. in January of the current year. Fill in the comment column of the corresponding taxpayer in the “Form of Declaration of Withholding of Income Tax of Individuals” and complete the “Declared in each month of the previous year and the annual income does not exceed 60,000 yuan”.
