1. What is the specific tax refund policy?
The Announcement of State Taxation Administration of The People's Republic of China City, People's Republic of China (PRC) on the Settlement and Payment of Comprehensive Income of Individual Income Tax in the Last Year stipulates: "Annual tax refund and supplementary tax.
1. Taxpayers should provide qualified bank accounts opened in China when applying for annual tax refund. The tax authorities shall, after auditing according to the provisions, handle the tax refund on the spot in accordance with the relevant provisions of treasury management at the location of the tax authorities that accept the annual declaration of final settlement as determined in Article 9 of this announcement (that is, the place of final settlement). If the taxpayer fails to provide his valid bank account or the information provided is wrong, the tax authorities will notify the taxpayer to correct it, and the taxpayer will apply for tax refund according to law after correcting it as required.
2. In order to facilitate taxpayers to obtain tax refund, if the taxpayer's comprehensive income in the previous year did not exceed 60,000 yuan and personal income tax was paid in advance, the tax authorities will provide convenient tax refund function in the online tax bureau (including mobile personal income tax software), and taxpayers can apply for annual tax refund through simple declaration form from March 1 day to May 3 1 day, 2020.
3. Taxpayers who pay the annual final tax can pay through online banks, bank counters and non-bank payment institutions. "
2. What are the relevant provisions for the final settlement of personal income tax?
Personal Income Tax Law
Article 11
When individual residents obtain comprehensive income, they shall pay individual income tax on an annual basis; If there is a withholding agent, the withholding agent shall withhold the advance tax on a monthly basis or every time; If settlement is needed, it shall be settled within March 1 day to June 30th of the following year. The withholding measures shall be formulated by the competent tax authorities of the State Council.
Where individual residents provide withholding agents with special additional deduction information, the withholding agent shall deduct the withheld tax in accordance with the provisions when withholding monthly, and shall not refuse.
If a non-resident individual has a withholding agent for income from wages and salaries, remuneration for labor services, remuneration for manuscripts and royalties, the withholding agent shall withhold and pay the tax on a monthly basis or every time, without making final settlement.
Article 12
Taxpayers obtain business income, calculate individual income tax annually, and submit tax returns to the tax authorities within 15 days after the end of each month or quarter, and pay taxes in advance; The income shall be settled before March 3 1 of the following year.
Taxpayers' income from interest, dividends and bonuses, income from property leasing, income from property transfer and accidental income shall be calculated on a monthly or quarterly basis. If there is a withholding agent, the withholding agent shall withhold and pay taxes on a monthly or quarterly basis.
Article 13
If a taxpayer obtains taxable income without a withholding agent, it shall submit a tax return to the tax authorities within 15 days of the following month to pay the tax.
If the taxpayer obtains taxable income and the withholding agent fails to withhold the tax, the taxpayer shall pay the tax before June 30 of the following year; If the tax authorities notify taxpayers to pay within a time limit, the taxpayers shall pay within a time limit.
Income obtained by individual residents from outside China shall be declared and taxed from March/KLOC-0 to June 30th of the following year.
Non-resident individuals who obtain wages and salaries from more than two places in China shall declare and pay taxes within 15 of the following month.
Taxpayers who cancel their domestic accounts due to emigration shall go through tax settlement before canceling their domestic accounts.
Article 14
The tax withheld by withholding agents every month or every time shall be turned over to the state treasury within 15 days of the following month, and a personal income tax return for withholding shall be submitted to the tax authorities.
Where a taxpayer or withholding agent handles the tax refund for the taxpayer, the tax authorities shall, after examination, handle the tax refund in accordance with the relevant provisions on treasury management.
Article 15
Public security, the People's Bank of China, financial supervision and management and other relevant departments shall assist the tax authorities to confirm the identity of taxpayers and financial account information. Education, health, medical security, civil affairs, human resources and social security, housing and urban construction, public security, the People's Bank of China, financial supervision and management and other relevant departments shall provide the tax authorities with special additional deduction information such as taxpayer's children's education, continuing education, serious illness medical treatment, housing loan interest, housing rent, and support for the elderly.
If an individual transfers real estate, the tax authorities shall verify the personal income tax payable according to the relevant information such as real estate registration. When handling the transfer registration, the registration institution shall check the personal income tax payment vouchers related to the transfer of real estate.
Where an individual transfers his equity for registration of change, the market entity registration authority shall examine the personal income tax payment voucher related to the equity transaction.
When paying personal income tax, most taxpayers will basically pay more taxes, because when withholding personal income tax every month, the company will pay taxes directly according to the statutory tax amount. However, some special deduction expenses incurred in that year cannot be counted until the tax authorities make final settlement at the end of the year.