China News Service Client, Beijing, June 13 (Reporter Li Jinlei) On June 30, the annual settlement of the comprehensive income of individual taxes in 2019 will be closed. If you can refund the tax without applying, you will lose a sum of money; and if you need to make up for the tax without paying the tax, you may face a fine of up to 10,000 yuan.

Tax information map. China News Service reporter Yin Liqin

The tax year will be closed

  The newly revised personal income tax law will be fully implemented in 2019. According to regulations, the comprehensive income of individual tax shall be settled annually from March 1 to June 30 of the following year.

  That is to say, from March 1 to June 30, 2020, the annual settlement of 2019 consolidated income should be processed. And June 30 is the final deadline.

  The so-called annual settlement is simply "combine the annual income and calculate the tax on an annual basis", and then make more refunds.

  After the individual tax reform, the four incomes of wages, labor remuneration, manuscript remuneration and royalties are combined into "comprehensive income", and the individual tax is calculated annually.

  The specific calculation formula is as follows:

  2019 Annual Settlement Tax Refundable or Taxable Amount = [(Comprehensive Income Income-RMB 60,000-"Three Insurances and One Gold" Special Deductions-Special Additional Deductions for Children's Education-Other Deductions Determined by Law-Donation) × Applicable Tax Rate- Quick deductions]-Prepaid taxes in 2019

  Prior to this, many small partners have conducted a tax year settlement. Some people received different amounts of tax refunds and called "the tax refund is really fragrant", while others needed to make up the tax. "One operation is fierce, and the tax is returned. Make up!"

Screenshot of a tax app.

Who needs tax rebates and supplements?

  As long as the tax is prepaid in advance due to insufficient deductions or undeclared deductions, no matter how high the income is, regardless of the amount of tax refund, you can apply for a tax refund.

Taxpayers  whose comprehensive income exceeds 120,000 yuan and whose annual settlement tax reimbursement amount is more than 400 yuan are required to pay tax reimbursement.

  According to the "Guidelines for the Annual Settlement of Individual Income Tax Comprehensive Income Taxation in 2019" issued by the State Administration of Taxation, the common situations of tax replenishment are:

  One is to be employed in more than two units and receive wages and salaries, and the basic deduction fee (5,000 yuan/month) is repeatedly deducted when prepayment of taxes;

  Second, in addition to wages and salaries, there are labor remuneration, manuscript remuneration, and royalties. After the sum of the various comprehensive incomes is added, the annual tax rate of the applicable comprehensive income is higher than the withholding rate;

  The third is that the items that should not be deducted are deducted during the withholding or prepayment, or the deduction amount exceeds the prescribed standard, and the taxable income increases due to the reduction of the deduction during the annual combined tax calculation;

  Fourth, the taxpayer obtains comprehensive income. Because the withholding agent fails to declare income according to law and withholds the withholding tax, it is necessary to supplement the income declaration.

Screenshot of the tax payment shared by netizens.

Unpaid taxes may be fined up to 10,000 yuan

  If you are in need of a tax refund, it is your right to apply for a tax rebate for annual settlement, without any responsibility. That is, the tax refund can be waived.

  And if you are going to make up for taxes, some people may feel painful when they see the amount of tax to be paid, so they have the idea of ​​not paying the tax regardless of this matter, but this kind of ostrich mentality is undesirable because it is not paid on time. The consequences of taxes are serious.

  The State Administration of Taxation stated that if you are a taxpayer, it is your obligation to handle the annual settlement. If the tax is not paid, it may face tax administrative punishment and be credited to the personal tax credit file.

  According to Article 62 of the Tax Administration Law, if the taxpayer fails to complete the tax declaration and submit the tax information within the prescribed time limit, the tax authority shall order it to make corrections within a time limit and may impose a fine of less than RMB 2,000; A fine of less than 10,000 yuan, and pay back taxes and levy late fees The late payment fee shall be subject to a five-tenth of ten-thousand-plus tax on the day after the payment deadline.

  In other words, if you need to make up for the tax after the annual settlement report, please pay the tax before June 30, 2020, otherwise you will face a fine, and there will be a daily penalty charge of 5/10,000.

Tax information map. China News reporter Li Jinlei

3 ways to settle accounts

  There are three ways to handle the annual settlement: do it yourself, work unit, or invite people to do it.

  One is to do it by yourself, you can handle the annual settlement by yourself through the mobile personal income tax APP, the Natural Person Electronic Taxation Bureau and other channels.

  The second is the unit office, that is, please ask the employed unit to handle.

  The third is to invite people to do it, that is, to entrust tax-related professional service institutions or other units and individuals to handle it.

  So, are you a tax refund or a tax supplement? (Finish)