Sino-Singapore Jingwei Client, March 1st (Wei Wei) The annual tax settlement and payment work has begun!
Recently, the State Administration of Taxation issued an announcement stating that relevant taxpayers should handle annual accounts between March 1 and June 30, 2021.
On March 1, many people have successively logged in to the personal income tax APP for tax settlement and payment. Do you need to make up the tax or rebate?
Are you refunding or making up?
Today (March 1) is the first day of the tax settlement and payment in 2020, and many netizens posted their own tax settlement results.
Some netizens said that they have to pay more than 10,000 yuan at a time; some netizens posted a declaration record showing that they can get a tax refund of 2,400 yuan.
Netizens posted their own personal tax calculation results source: Weibo and WeChat
How are tax refunds and tax supplements calculated?
The State Administration of Taxation gave the calculation formula in the announcement:
Tax refundable or payable = [(Comprehensive income-60,000 yuan-special deductions for "three insurances and one housing fund"-special additional deductions for children's education-other deductions determined by law-donations) × applicable tax rate-quick deductions] -Prepaid taxes in 2020
Among them, the comprehensive income includes four incomes including wages and salaries, labor remuneration, author's remuneration, and royalties received from January 1 to December 31, 2020.
Business income, income from interest, dividends, dividends, and income from property leases are not included in the annual accounting.
At the same time, according to the relevant documents, taxpayers may not be included in the comprehensive income calculation of taxable income, and are not within the scope of the annual calculation, such as the annual one-off bonus that chooses to calculate the tax separately.
Of course, if the taxpayer calculates the tax separately when he obtains the one-off bonus for the whole year in 2020, he can also choose to incorporate it into the comprehensive income to calculate the tax.
In addition, the personal income tax rate table is as follows:
Source: Official website of the State Administration of Taxation
Calculate the amount of tax to be refunded or make up based on the above table, declare to the tax authority and apply for tax refund or make up.
However, many netizens complained, after logging in to the personal income tax APP, it was displayed, "Currently there are many visitors, please try again later."
A reporter from Sino-Singapore Jingwei called the 12366 tax service hotline. The staff said that today is the first day of tax settlement and payment. There may be too many logins and the system is busy. It is recommended that taxpayers log in at a different time period.
Which taxpayers need to handle annual accounts?
Of course, not all taxpayers need to handle annual accounts.
Taxpayers who have paid personal income tax in advance in accordance with the law in 2020 and meet one of the following circumstances do not need to apply for annual settlement:
1. Taxes need to be paid in the annual calculation, but the comprehensive income does not exceed 120,000 yuan for the whole year;
2. The amount of tax to be supplemented in the annual final calculation does not exceed 400 yuan;
3. The amount of prepaid tax is the same as the annual taxable amount or the tax refund is not applied for.
At the same time, according to the tax law, if one of the following two situations is met, the taxpayer needs to handle annual accounts:
1. The prepaid tax is greater than the annual tax payable and the tax refund is applied for;
2. The annual comprehensive income exceeds RMB 120,000 and the amount of tax supplementation exceeds RMB 400.
According to the State Administration of Taxation, there are some common situations in practice that will lead to the need or possible need to make up tax in the annual calculation. For example, if you are employed in two or more units and receive wages and salaries, the deductions are repeatedly deducted when the tax is prepaid. (5000 yuan/month); in addition to wages and salaries, taxpayers also have income from labor remuneration, author's remuneration, and royalties. After the sum of all comprehensive income incomes, the applicable comprehensive income tax rate is higher than the withholding and prepayment rate and many more.
What methods can be handled?
According to the announcement, there are three channels for annual accounting: online office, mail office, and lobby office.
One is the network office.
The tax authority recommends that taxpayers prefer to use the online tax bureau to handle annual settlements, especially the mobile phone "individual income tax APP" handheld tax processing.
In the online tax bureau, the tax authority has directly pre-filled all the prepayment declaration data of the four comprehensive income items of eligible taxpayers into the declaration form.
In addition, the 2020 accounting will also open the online tax bureau (web-side) overseas income declaration function.
The second is mailing.
If taxpayers are inconvenient to use the Internet, they can also mail the declaration form for annual settlement.
The taxation bureaus of all provinces (autonomous regions and municipalities) will appoint taxation authorities specializing in handling mailing declarations and make public announcements.
Taxpayers need to send the declaration form to the address announced by the taxation bureau of the province (region, city) where the competent tax authority is located.
Mailing declarations need to be clear, true, and accurate to fill in relevant information, especially key information such as name, taxpayer identification number, and effective contact information. It is recommended to use a computer to fill in, print and sign.
The third is the hall office.
If taxpayers are inconvenient to use the Internet or mail, they can also go to the Tax Service Office of the competent tax authority as determined in Article 9 of the "Announcement".
(Zhongxin Jingwei APP)
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