State Administration of Taxation: the annual settlement of individual tax comprehensive income will start from March 1st


Beijing, February 11 (People’s Daily Online) (Che Komeng) Recently, the State Administration of Taxation (SAT) announced that from March 1, 2022 to June 30, 2022, residents who meet the relevant provisions need to handle the 2021 annual individual income tax settlement matters.According to the announcement, after the end of 2021, the residents personal needs summary January 1, 2021 solstice December 31 of the wages and salaries, labor remuneration, remuneration, royalties and other four the income obtained 60000 yuan as well as the special deduction, the deduction of expenses other deduction as determined by the special additional deduction, in accordance with the law and conform to the conditions of the public welfare charity donations,Apply to individual income tax rate of comprehensive income, subtract quick-calculated deductions, calculate final tax payable for the year, subtract the amount of tax paid in advance for the tax year, and obtain the amount of tax refundable or payable, report to tax authorities and apply for tax refund or tax payment.The annual settlement period is from March 1, 2022 to June 30, 2022.Taxpayers without domicile in China who leave China before March 1 May handle the annual settlement before leaving China.So, need below specific what circumstance deals with individual income tax comprehensive income year to calculate?According to the announcement issued by the State Administration of Taxation, taxpayers need to handle annual settlement in one of the following circumstances: tax paid in advance is greater than the amount of tax payable in the annual settlement and apply for tax refund;The comprehensive income obtained in the tax year exceeds 120,000 yuan and the amount of tax payable exceeds 400 yuan.At the same time, taxpayers who underdeclare or fail to declare comprehensive income in a tax year due to incorrect items of income applied or failure of withholding agents to fulfill their withholding obligations according to law shall handle the annual settlement according to law and in accordance with the facts.The announcement also clarifies the circumstances under which annual settlement is not required. Taxpayers who have paid individual income tax in advance in accordance with the law during the tax year and meet any of the following circumstances are not required to handle annual settlement: taxpayers whose annual settlement requires supplementary tax but whose annual comprehensive income does not exceed 120,000 yuan;The amount of tax payable for annual settlement does not exceed RMB 400;The amount of tax paid in advance is consistent with the amount of tax payable in the annual settlement;Satisfies the conditions for annual consolidated tax refund but does not apply for tax refund.It is worth noting that a late fee will be charged if tax is not declared and made up after the end of the settlement period.Learned, 2021 annual income is comprehensive and classification by combining individual income tax system reform after the third time, once upon a time two to handle the case, the vast majority of taxpayers can truthfully according to law, there are a number of taxpayers with annual income to apply for tax refund by enjoy the dividend tax reform, there are also many taxpayers to supplement the income, the tax authorities not known to theHandle annual settlement declaration and tax payment.At the same time, the tax authorities also found that a small number of taxpayers did not truthfully declare after repeated reminders from the tax authorities.State Administration of Taxation related person in charge said, for the annual settlement of taxpayers who need to pay taxes, such as in the end of the annual settlement period did not declare and pay taxes, tax authorities will be charged a fine for late payment in accordance with the law, and in its “individual income tax records” to be marked.

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