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Is there tax on private transfer?
Individuals do not need to pay taxes on personal account transfers, but they have to pay taxes if they want to issue transaction invoices. All taxes in China are based on "obtaining taxable income" and "generating taxable behavior". Private-to-private account transfer, as long as these two provisions are not involved, is not required to pay any tax.

Private to private transfer limit

According to the official regulations of the bank, the limit of private transfer is usually 50 thousand. Going to the counter to transfer money is the same as withdrawing cash. The amount of each check cannot exceed 50,000 pounds. If the transfer is based on travel expenses or labor costs, the transfer can be completed without providing attachments, or through online banking. If a large transfer is required, the name of the loan should be used as the reason for the transfer, and the loan contract must be provided.

1. After deducting "five insurances and one gold" from employees' monthly salary income, if it exceeds 5,000 yuan, individual income tax shall be calculated and paid.

2. Calculation of personal income tax on wages and salaries: After obtaining the wage income of the current month, the basic old-age insurance, medical insurance, unemployment insurance and housing accumulation fund paid according to the standards set by the provincial government shall be deducted first. After deducting expenses and deducting 3,500 yuan/month (overseas income and income of foreigners, overseas Chinese and compatriots from Hong Kong, Macao and Taiwan in China can be deducted by 3,200 yuan), it is taxable income, and personal income tax is calculated and paid at the nine-level excess progressive tax rate of 3% to 45%.

Legal basis:

Article 28 of the Law of People's Republic of China (PRC) on the Administration of Tax Collection: The tax authorities shall collect taxes in accordance with the provisions of laws and administrative regulations, and shall not levy, stop, overpay, underpay, prepay, postpone or apportion taxes in violation of the provisions of laws and administrative regulations. The taxable amount of agricultural tax shall be verified in accordance with the provisions of laws and administrative regulations.

Article 29 of the Law of People's Republic of China (PRC) on Tax Collection and Management: No unit or individual may engage in tax collection activities except tax authorities, tax personnel and units and personnel entrusted by tax authorities according to laws and administrative regulations.

Article 30 of the Law of People's Republic of China (PRC) on the Administration of Tax Collection: Withholding agents shall perform the obligations of withholding and collecting taxes in accordance with the provisions of laws and administrative regulations. The tax authorities shall not require units and individuals that have no obligation to withhold or collect taxes according to laws and administrative regulations. When withholding agents perform their obligations according to law, taxpayers shall not refuse to withhold or collect taxes. If the taxpayer refuses, the withholding agent shall promptly report to the tax authorities for handling. The tax authorities shall, in accordance with the provisions, pay the withholding agents the handling fees for withholding and collecting and remitting.