Announcement of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Issues Concerning the Self-declaration of Individual Income Tax Announcement No.62 of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) No.2018 stipulates that "taxpayers who have obtained comprehensive income and meet one of the following circumstances shall make final settlement and payment according to law:

(1) Obtaining comprehensive income from two or more places, and the balance of the annual income of comprehensive income after deducting special additional deductions exceeds 60,000 yuan;

(2) Obtaining one or more of labor remuneration, royalties and royalties, and the balance of annual comprehensive income after deducting special expenses exceeds 60,000 yuan;

(3) The prepaid tax amount is lower than the taxable amount in the tax year;

(4) Taxpayers apply for tax refund.

That is to say, if an individual does not have more than two comprehensive incomes, the sum of the taxes withheld and remitted each month is just equal to the annual tax payable, and there is no need to make up taxes or refund taxes, so there is no need for final settlement.

Taxpayers who need to make final settlement shall file tax returns with the competent tax authorities in the place where they work and are employed, and submit individual income tax self-tax returns from March/Kloc-0 to June 30 of the following year. Taxpayers with more than two jobs and employment choose to declare and pay taxes to the competent tax authorities where they work and are employed. Taxpayers who are not employed or employed shall file tax returns with the competent tax authorities at their domicile or habitual residence.

2019165438+1October 20th, People's Republic of China (PRC) Li Keqiang, Premier of the State Council of the People's Republic of China presided over the the State Council executive meeting, and decided that in order to further reduce the burden on taxpayers, especially low-and middle-income groups, taxpayers whose annual comprehensive income does not exceed/kloc-0.2 million yuan or whose annual tax payment is relatively low shall be exempted from the obligation of final settlement.

What are the consequences of not making personal income tax final settlement?

1. Taxpayers who fail to handle the annual final settlement of comprehensive income truthfully according to law may face tax administrative penalties and record them in personal tax credit files; If the circumstances are serious enough to constitute a crime, criminal responsibility shall be investigated according to law.

2. The declaration is untrue and the income is concealed; According to the Credit Mechanism of Personal Income Tax Declaration issued by the Finance and Finance Department of the National Development and Reform Commission, personal income tax declaration is fraudulent and inaccurate, which has a negative impact on personal credit.

Article 11 of the Individual Income Tax Law stipulates that individual residents who obtain comprehensive income 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 it is necessary to settle accounts, it shall be settled within March 1 day to June 30th of the following year after the income is obtained. 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, salaries, remuneration for labor services, remuneration for manuscripts and royalties, he shall withhold it on a monthly basis or every time without making final settlement.