Individual income tax plus block chain
Zheng Xiaojun, chief economist of the world blockchain organization and President of the Caribbean blockchain Research Institute, introced the world blockchain organization at the tokensky blockchain conference in South Korea today. He mentioned that the Caribbean is the largest offshore area in the world, and a lot of international re export trade relies on the Caribbean for operation. However, 80% of the population in the region does not have bank accounts, and the financial infrastructure cannot be solved by traditional financial instruments. Therefore, the development and cooperation of blockchain in the world is very necessary
In personal income tax, there is only one additional item, that is, income from remuneration for services
if the income from remuneration for services (income dection) is less than 20000 yuan, the tax rate is 20% or more. The amount of dection is: if the income is less than 4000 yuan, 800 yuan and more than 4000 yuan, 20% will be dected. The specific provisions are as follows:
1. If the income is less than 20000 yuan each time:
taxable amount = (income per time - 800) * 20%
2. If the income per time is more than 20000-50000 yuan:
taxable amount = income per time * (1-20%) * 30%
3 If the income is more than 50000 yuan each time:
taxable amount = income each time * (1-20%) * 40%
extended data:
< P > calculation example of labor remuneration incomefor example: singer Liu gets 40000 yuan of performance income at one time, after decting 20% of the expenses, the taxable income is 32000 yuan. Please calculate the amount of personal income tax payable
amount of tax payable = amount of income per time × 1-20% × Applicable tax rate - quick dection
= 40000 × 1-20% × 30% - 2000 = 7600 (yuan)
if the one-time income from labor remuneration is abnormally high (the taxable income is more than 20000 yuan), the method of additional levy shall be implemented. Specifically, if the balance after decting expenses (i.e. the taxable income) exceeds 20000 yuan to 50000 yuan, the tax payable calculated according to the provisions of the tax law shall be increased by 50%; If it exceeds 50000 yuan, an additional 100% will be levied
for example, if Wang gets 50000 yuan of labor remuneration at one time, he needs to dect 20% of the expenses. The indivial income tax payable is:
= 50000 × 1-20%) = 40000 yuan
= 40000 yuan × 30% (the 30% tax rate is 20000, and the corresponding 20% tax rate will be added to 30%) - 2000 = 10000 (yuan)
After the reform of personal income tax, the tax rate table of personal income tax has changed from the past monthly table to the present annual table, and the tax calculation method has also changed into the cumulative withholding method
when calculating indivial income tax, the income that should be taxed every month should be accumulated continuously, and then be substituted into the new tax rate table for calculation
why does this happen
this is because when your taxable income reaches a certain level, you will use a higher tax rate to collect taxes, resulting in more and more taxes
but don't worry, the cumulative withholding method will not affect the annual total tax payment, nor will it affect the tax rection
the reason why this method is adopted is that the original withholding can not meet the requirements of the new tax law, and withholding can save the taxpayers' taxes in the middle and early stage of the year, occupy less taxpayers' capital cost, and make them obtain the time value of money
According to the regulations on the implementation of the indivial income tax law of the people's Republic of China, the one-time income from remuneration for services mentioned in Item 4 of Article 3 of the tax law is abnormally high, which means that an indivial obtains remuneration for services at one time, and his taxable income exceeds 20000 yuan
for the part of the taxable income mentioned in the preceding paragraph that exceeds 20000 to 50000 yuan, the tax payable shall be calculated in accordance with the provisions of the tax law, and then 50% of the tax payable shall be levied; If the amount exceeds 50000 yuan, an additional 100% will be levied
the basic tax rate of labor remuneration income is 20%. After decting 20% of the expenses, 50% will be added if the income exceeds 20000 yuan, The specific calculation of 20% + 10% (50% of 20%) is as follows:
taxable income less than 20000 yuan = income * (1-20%) * 20%
taxable income from 20000 to 50000 Yuan = income * (1-20%) * 30% - 2000
taxable income more than 50000 yuan = income * (1-20%) * 40% - 7000
Personal income tax is calculated as follows: the taxable income is equal to the total amount of monthly wage income minus the expenses to be dected, and then minus the starting point of personal income tax. The amount of tax payable is equal to the amount of taxable income multiplied by the corresponding tax rate minus the corresponding quick dection. The expenses to be dected include endowment insurance, medical insurance, etc; The starting point of personal income tax is 5000 yuan per month; The corresponding tax rate and the corresponding quick dection can be found in the attached table of the indivial income tax law Article 6 calculation of taxable income in the indivial income tax law of the people's Republic of China:
(1) the taxable income shall be the balance of the income of each tax year minus expenses of 60000 yuan, special dection, special additional dection and other dections determined according to law< (2) the taxable income of non resident indivials is the balance of their monthly income minus 5000 yuan of expenses; Income from remuneration for labor services, remuneration for contributions and royalties shall be the taxable income per time< (3) the taxable income is the balance of the total income of each tax year after decting costs, expenses and losses< (4) if the income from property leasing does not exceed 4000 yuan each time, 800 yuan of expenses shall be dected; If it is more than 4000 yuan, 20% of the expenses shall be dected, and the balance shall be the taxable income< (5) for income from property transfer, the taxable income shall be the balance of the income from property transfer minus the original value of the property and reasonable expenses< (6) for interest, dividend, bonus and contingent income, the amount of each income is the taxable income
income from remuneration for labor services, remuneration for contributions and royalties shall be the balance of income minus 20% of expenses. The amount of income from remuneration shall be calculated as 70%. On August 31, 2018, the decision on Amending the indivial income tax law was adopted by the fifth meeting of the Standing Committee of the 13th National People's Congress
the threshold is 5000 yuan per month. The new tax law stipulates that the taxable income of indivial residents shall be the balance of the income of each tax year minus 60000 yuan of expenses, special dection, special additional dection and other dections determined according to law<
1. Calculation method:
taxable income = monthly income - 5000 yuan (threshold) - special dection (three insurances and one fund, etc.) - special additional dection - other dections determined according to law< Example: Xiao Li, a married man, works in Beijing with a monthly income of 10000 yuan. The special dection of "three insurances and one fund" is 2000 yuan, and the monthly rent is 4000 yuan. One child goes to kindergarten, and his parents are over 60 years old
when the threshold is 5000 yuan, there is no special additional dection, so it is required to pay (10000-5000-2000) per month × 3% = 90 yuan
according to the new policy, Xiao Li can enjoy a dection of 1200 yuan for housing rent, 1000 yuan for children's ecation and 1000 yuan for supporting the elderly (sharing the dection with his sister), so the personal income tax = (10000-5000-2000-1200-1000-1000) × 3% = 0 yuan. Extended data:
the special additional dection of indivial income tax is as follows:
1. Children's ecation
the expenses related to full-time academic ecation of taxpayers' children are dected according to the standard quota of 1000 yuan per month< (2) the expenses for continuing ecation in China shall be dected according to the fixed amount of 400 yuan per month. The dection period of continuing ecation for the same academic degree shall not exceed 48 months
taxpayers' expenses for continuing ecation of vocational qualification for skilled personnel and professional and technical personnel shall be dected according to the quota of 3600 yuan in the year when they obtain relevant certificates
3. Serious illness treatment
in a tax year, the part of the medical expenses related to the basic medical insurance incurred by the taxpayer, after decting the reimbursement of medical insurance, whose personal burden (refers to the self paid part within the scope of the medical insurance catalog) is more than 15000 yuan, shall be dected by the taxpayer within the limit of 80000 yuan when handling the annual final settlement< 4. Interest on housing loan
if the taxpayer or his spouse uses the indivial housing loan of commercial bank or housing provident fund alone or jointly to purchase a house in China for himself or his spouse, the interest expense on the first housing loan shall be dected according to the standard quota of 1000 yuan per month in the year in which the loan interest actually occurs, The maximum dection period shall not exceed 240 months. The taxpayer can only enjoy the interest dection of the first housing loan once< Housing rent
5. Housing rent expenses incurred by taxpayers who do not have their own houses in the main working cities can be dected according to the following standard quota:
municipalities directly under the central government, provincial capitals, cities under separate planning and other cities determined by the State Council. The dection standard is 1500 yuan per month
In the taxable items of indivial income tax, the income from remuneration for services is applicable to the Levy of bonus
income from labor remuneration is one of the objects of personal income adjustment tax. It is the income from personal services such as design, installation, drawing, medical treatment, accounting, law, consulting, lecturing, contribution, translation, calligraphy and painting, sculpture, film, drama, music, dance, acrobatics, folk art, sports and technical services
The income from labor remuneration refers to the income obtained by indivials independently engaged in various non employed labor services. The applicable proportional tax rate is 20%. If the one-time income of labor remuneration is too high, it can be levied with a bonus.
the taxable income of labor remuneration is: 20% of each labor remuneration minus the income
2. If the one-time income of labor remuneration is excessively high (the taxable income is more than 20000 yuan), it is necessary to implement the method of additional levy.
specifically: if the balance (i.e. the taxable income) after decting expenses exceeds 20000 yuan to 50000 yuan, the tax payable calculated according to the provisions of the tax law shall be increased by 50%; If it exceeds 50000 yuan, an additional 100% will be levied
extended data
special items from labor remuneration
1. Director's fee income from personal directorship
according to the relationship between directors and the company, it can be divided into internal directors and external directors
(1) an internal director, who serves as a director of the company and is employed in the company at the same time, is remunerated by "wages and salaries"
(2) external directors refer to the directors who are not employed in the company, and the income from directors' fees is the income from labor remuneration
2. Students who participate in work study activities (including work study activities organized by the school) should pay personal income tax in accordance with the law
3. Since January 20, 2004, enterprises and units have organized tourism activities for non employees with outstanding marketing performance in the name of training courses, seminars, work inspection, etc., and implemented marketing performance awards (including physical objects, securities, etc.) for indivials by exempting travel expenses,
the total amount of expenses incurred shall be regarded as the current labor income of marketing personnel, and the personal income tax shall be levied according to the "labor remuneration income", which shall be withheld and paid by the enterprises and units that provide the above expenses
Personal income tax should be paid according to the item of "income from remuneration for labor service"5. The remuneration received by actors participating in performances organized by non working units shall be calculated and taxed according to the item of "income from remuneration for services"; The remuneration of an actor who participates in a performance organized by his work unit shall be calculated and taxed on a monthly basis according to the item of "income from wages and salaries"
in the remuneration of actors, it should be stipulated that the management fee and income share handed over to the unit and cultural administrative department can be dected when calculating the taxable income after being confirmed by the competent tax authorities
Personal income tax has been connected to the whole country
The Standing Committee of the National People's Congress deliberated the draft in groups. The new tax law is to be fully implemented on January 1, 2019. From October 1, 2018 to December 31, 2018, the basic dection standard of wage and salary income will be increased to 5000 yuan / month, and the new comprehensive income tax rate will be applied On August 31, 2018, the decision on Amending the indivial income tax law was adopted by the fifth meeting of the Standing Committee of the 13th National People's Congress The threshold was 5000 yuan per month. The new tax law stipulates that the taxable income of indivial residents shall be the balance of the income of each tax year minus 60000 yuan of expenses, special dection, special additional dection and other dections determined according to lawtax rection is inclined to low and middle income. According to the new indivial tax law, after this amendment, some tax rate levels of indivial income tax have been further optimized and adjusted. The three low tax rate levels of 3%, 10% and 20% have been expanded, the 25% tax rate level has been reced, and the three higher tax rate levels of 30%, 35% and 45% have not been changed
a number of expenses are tax dectible. In the calculation of personal income tax in the future, in addition to the basic dection expense standard and special dection such as "three insurances and one fund", special additional dection items are added. The new tax law stipulates that special additional dections, including expenses for children's ecation, continuing ecation, serious illness medical treatment, housing loan interest or housing rent, and supporting the elderly, shall be determined by the State Council and reported to the Standing Committee of the National People's Congress for the record
the new indivial tax law will be implemented on January 1, 2019, and the latest threshold and tax rate will be implemented on October 1, 2018. According to the new tax law, from October 1, 2018 to December 31, 2018, taxpayers' income from wages and salaries shall be the taxable income after decting 5000 yuan from their monthly income, special dections and other dections determined according to law,
the tax shall be calculated and paid according to the personal income tax rate table (applicable to comprehensive income), The relevant departments of the State Administration of taxation have responded to the problems related to tax records after the implementation of the new indivial income tax law. The zero declaration of indivial income tax does not affect the continuity of tax records
therefore, personal income tax has been connected to the whole country
extended data:
personal income tax rate:
1. Serious illness medical treatment: in a tax year, the medical expenses related to the basic medical insurance incurred by the taxpayer, after decting the medical insurance reimbursement, the personal burden (refers to the self paid part within the scope of the medical insurance catalog) accumulated more than 15000 yuan, The taxpayer shall dect the amount within the limit of 80000 yuan when handling the annual final settlement
2. Housing loan interest: if the taxpayer or his or her spouse independently or jointly uses the personal housing loan of commercial bank or housing provident fund to purchase a house in China for himself or his or her spouse, the interest expense of the first housing loan shall be dected according to the standard quota of 1000 yuan per month in the year in which the loan interest actually occurs, and the dection period shall not exceed 240 months. The taxpayer can only enjoy the interest dection of the first housing loan once
housing rent: the housing rent expenses incurred by taxpayers who have no self owned housing in the main working cities can be dected according to the following standard quota:
(1) the dection standard for municipalities directly under the central government, provincial capitals, cities with separate planning and other cities determined by the State Council is 1500 yuan per month
(two) except for cities listed in the first list, the city with a registered residence population of over 1 million in the city area is dected from the standard of 1100 yuan per month. The city registered residence population of less than 1 million of the city, the standard is 800 yuan per month. p> (1) if the taxpayer is an only child, it shall be dected according to the standard quota of 2000 yuan per month
(2) if the taxpayer is a non only child, he / she and his / her brothers and sisters shall share the dection amount of 2000 yuan per month, and the amount shared by each person shall not exceed 1000 yuan per month. It may be apportioned by the supporter or by agreement, or by the person to be supported. If the apportionment is agreed or designated, a written apportionment agreement shall be signed, and the designated apportionment shall take precedence over the agreed apportionment. The specific allocation method and amount cannot be changed in a tax yearsource of reference: Internet - personal income tax