Home
FAQ
Taxation China Frequently Asked Questions for the Annual Settlement of Personal Income Tax in 2019 (1)
FAQFrequently Asked Questions for the Annual Settlement of Personal Income Tax in 2019 (1)
|
Q: |
What is annual settlement? |
|
A: |
Generally speaking, the annual settlement means that the resident individual combines the four incomes (salary income, wages, labour remuneration, manuscript remuneration, royalties, etc.) obtained in a tax year, and calculates it annually. The personal income tax paid, after deducting the prepaid tax in the tax year, calculate the amount of tax refund or reimbursement, and declare to the tax authority and conduct tax settlement. The formula for expressing the 2019 annual settlement is: the amount of the 2019 annual settlement should be refunded or tax payable = [(comprehensive income income-60,000 yuan-"three insurances and one gold" and other special deductions-child education and other special deductions-determined according to law other deductions-charity donations) × applicable tax rate-quick calculation of deductions]-prepaid taxes in 2019, among them, the comprehensive income, special deductions such as “insurances and housing fund”, other deductions determined according to law, and charitable donations are all income and expenses actually incurred in 2019. Special additional deductions for children's education are eligible deductions in 2019.
|
|
Q: |
Is the company's salary for December 2018 paid in January 2019 a comprehensive income in 2019? |
|
A: |
Belong. The income and deductions at the time of annual settlement are the income obtained during the time interval and the actual expenses or expenditures that meet the conditions or prescribed standards.
|
|
Q: |
If the amount of income is less than 60,000 yuan, but there is overseas income, can it be reported in a simple way? |
|
A: |
It can't. Individuals who obtain overseas income need to use the "Individual Income Tax Annual Self-Tax Return (Form B)" and "Overseas Income Personal Income Tax Credit Details" for declaration.
|
| Q: |
What information do I need to prepare for the annual settlement? |
|
A: |
Before handling the annual settlement, you need to prepare your income, three insurances and housing fund, special additional deductions, other deductions (annuities, eligible business health insurance or tax-deferred pension insurance), donations, tax incentives, Tax payment and other related information or materials for you to use when filling in the declaration information.
|
|
Q: |
Where can I obtain tax information for my income? |
|
A: |
You can check with the unit or individual (withholding agent) who paid your income, or you can check your relevant income tax declaration information through the mobile personal income tax APP and the Natural Person Electronic Taxation Bureau.
|
| Q: |
Can all declarations be processed through the Internet? |
| A: |
No. If you obtain overseas income, you cannot temporarily apply for it through the Internet. |
|
Q: |
What methods can be used for annual settlement? |
| A: |
There are three main ways to handle the annual settlement: by yourself, via company, engage agent. Firstly, do it by yourself, that is, you will do it yourself. You can handle the annual settlement on your own through the mobile personal income tax APP, the Natural Person Electronic Taxation Bureau and other channels. Secondly is via company, that is, please ask the employed unit to handle it. You can ask the unit to help you handle the annual settlement, or you can ask the unit how to handle it through the mobile phone or the Natural Person Electronic Taxation Bureau. It should be noted that if you choose the units’ annual accounting, you must confirm with the company in writing before April 30, 2020; at the same time, if you still have income other than the company, or the deduction items that the unit does not have, you need submit the company and be responsible for its authenticity, accuracy and completeness. Thirdly is engage agent, that is, to entrust tax-related professional service institutions or other units and individuals to handle it. To choose this method, you need to sign a delegation authorization with the trustee. |
Language
close
