If there is no agent, the buyer shall be the withholding agent. In business tax, financial institutions are entrusted to issue loans, and the financial institutions entrusted to issue loans are withholding agents.
Extended data
Enterprises withhold and remit personal income tax for employees.
Employees bear their own personal income tax, and enterprises only have the obligation to withhold and remit it.
1. As a withholding agent of personal income tax, an enterprise shall withhold and remit the personal income tax payable by its employees in accordance with regulations. When withholding personal income tax, debit "wages payable" and credit "taxes payable-withholding personal income tax".
Two, enterprises pay personal income tax for individuals usually have two situations: First, according to the provisions of the contract or agreement, all or part of the personal income tax payable by taxpayers shall be borne by the enterprise. This situation is usually a voluntary behavior of enterprises. Second, personal income tax is paid by the enterprise because the enterprise fails to fulfill the obligation of withholding and remitting. This situation is a kind of "punishment" of tax law for failing to fulfill the obligation of withholding and remitting. In addition to paying taxes, enterprises also need to pay certain late fees and fines according to regulations.
Since personal income tax is a tax levied on individuals who obtain taxable income, the tax should have been borne by individuals. The tax paid by the enterprise on behalf of the taxpayer belongs to the expenditure unrelated to the business activities of the enterprise and should be recorded in the "non-operating expenditure" subject. Accordingly, the personal income tax borne by the enterprise shall not be deducted before the enterprise income tax, and the income tax payable shall be fully increased when the enterprise income tax is declared at the end of the year.
Refer to Baidu Encyclopedia-Withholding and Remittance