When an enterprise is merged, divided or terminated in the middle of the year, investors of a sole proprietorship enterprise, individual partners of a partnership enterprise and contracted operations shall, within 60 days from the date of stopping production and operation, handle the final settlement of personal income tax for the current period with the competent tax authorities.
Taxable income is the balance of total income after deducting costs, expenses and losses in each tax year, and personal income tax is calculated on an annual basis. Taxpayers should fill in the "Personal Income Tax Return from Business Income (Form B)" and other relevant materials before March 3 1 of the following year, and go through the final settlement with the competent tax authorities where the business management institution is located.
When an enterprise is merged, divided or terminated in the middle of the year, investors of a sole proprietorship enterprise, individual partners of a partnership enterprise and contracted operations shall, within 60 days from the date of stopping production and operation, handle the final settlement of personal income tax for the current period with the competent tax authorities.
Legal basis: Paragraph 1 of Article 25 of the Law of People's Republic of China (PRC) on Tax Collection and Administration, taxpayers must truthfully file tax returns, submit tax returns, financial and accounting statements and other tax information required by the tax authorities according to actual needs in accordance with the provisions of laws and administrative regulations or the time limit and content of filing determined by the tax authorities in accordance with the provisions of laws and administrative regulations.
People's Republic of China (PRC) Individual Income Tax Law Article 2 Taxpayers must truthfully file tax returns, submit tax returns, financial and accounting statements and other tax payment materials required by the tax authorities according to actual needs in accordance with the provisions of laws and administrative regulations or the time limit and content of filing determined by the tax authorities in accordance with the provisions of laws and administrative regulations.
The Regulations for the Implementation of the Individual Income Tax Law of the People's Republic of China refers to the costs and expenses mentioned in Item 3 of Paragraph 1 of Article 6 and Article 15 of the Individual Income Tax Law, and refers to the direct and indirect expenses included in production and business activities, as well as sales expenses, management expenses and financial expenses; The so-called loss refers to the loss caused by force majeure factors such as inventory loss, damage, scrapping, loss of transferred property, loss of bad debts and natural disasters in production and business activities.