Two, the income from the production and operation of individual industrial and commercial households and the income from the contracted operation and lease operation of enterprises and institutions shall be subject to a progressive tax rate of 5% to 35%. Income from production and operation of individual industrial and commercial households shall be the taxable income after deducting costs, expenses and losses from the total income in each tax year. For the income from contracted operation and lease operation of enterprises and institutions, the taxable income shall be the balance of the total income in each tax year after deducting the necessary expenses.
3. The income from remuneration for writing shall be taxed at a proportional rate of 20%, with a reduction of 30% according to the tax payable. Income from remuneration for services shall be taxed at a proportional rate of 20%. If the one-time income from labor remuneration is abnormally high, it may be levied, and the specific measures shall be formulated by the State Council. Income from labor remuneration, royalties and property leasing, which does not exceed 4,000 yuan each time, will be reduced by 800 yuan; If it exceeds 4,000 yuan, 20% of the expenses will be deducted, and the balance will be taxable income.
Four, the income from the transfer of property, the balance of the income from the transfer of property after deducting the original value of the property and reasonable expenses is the taxable income.
Five, interest, dividends, bonus income, accidental income and other income, for each taxable income.
6. Income from royalties, interest, dividends, bonuses, property leasing, property transfer, accidental income and other income shall be subject to a proportional tax rate of 20%.
In addition, the following personal incomes are exempt from personal income tax:
1. Bonuses in science, education, technology, culture, health, sports, environmental protection, etc. Awarded by the provincial people's government, the State Council ministries and commissions, China People's Liberation Army units at or above the military level, foreign organizations and international organizations;
2. Interest on treasury bonds and financial bonds issued by the state;
3. Subsidies and allowances issued in accordance with the unified provisions of the state;
Four, welfare funds, pensions and relief funds;
5. Insurance compensation;
Six, military demobilized fees, demobilization fees;
Seven, in accordance with the unified provisions of the state to cadres and workers resettlement fees, retirement fees, retirement wages, retirement wages, retirement allowance;
Income of diplomatic representatives, consular officials and other personnel of embassies and consulates in China who should be exempted from tax according to the relevant laws of China;
Nine, China municipal government to participate in the international conventions and agreements stipulated in the tax-free income;
Ten, approved by the finance department of the State Council tax-free income.
Under any of the following circumstances, individual income tax may be reduced upon approval:
1. The income of the disabled, the elderly and the martyrs;
Two, due to serious natural disasters caused heavy losses;
Three, other tax reduction measures approved by the finance department of the State Council.
The revision of the individual income tax law aims to strengthen the protection of taxpayers' rights and interests and provide more preferential tax policies. According to the revised regulations, taxpayers will enjoy a fairer and more transparent tax environment. The new regulations will further simplify the collection procedures of individual income tax and reduce the occurrence of tax disputes. At the same time, the expansion of preferential tax policies will encourage individuals to invest and start businesses and promote economic development. Taxpayers can enjoy more personal income tax relief and tax refund opportunities, reducing the economic burden. In addition, the revised individual income tax law will also strengthen the taxation of high-income groups and achieve a fairer tax distribution. In a word, the revision of individual income tax law aims at protecting the rights and interests of taxpayers and promoting economic prosperity.
Legal basis:
Regulations on the Implementation of the Enterprise Income Tax Law of People's Republic of China (PRC) (revised on 20 19): Chapter II Taxable Income The tax deduction mentioned in Article 31, paragraph 8 of the Enterprise Income Tax Law refers to all taxes incurred by an enterprise except enterprise income tax and allowable deduction of value-added tax and its surcharges.