Personal income tax is the general name of legal norms to adjust the social relations between tax authorities and natural persons (residents and non-residents) in the process of collecting and managing personal income tax. When will the personal income tax threshold be raised? The draft amendment to the personal income tax law 19 was submitted to the Third Session of the 13th the National People's Congress Standing Committee (NPCSC) for deliberation. This is the seventh overhaul of the tax law since the promulgation of 1980, and it will also usher in a fundamental change: the four labor incomes, such as wages and salaries, labor remuneration, royalties and royalties, will be comprehensively taxed for the first time; The tax threshold is raised from 3,500 yuan per month to 5,000 yuan per month (60,000 yuan per year). On August 3, 20 18, the decision on amending the individual income tax law was passed by the fifth session of the 13th the National People's Congress Standing Committee (NPCSC), with the threshold of 5,000 yuan per month, which will be implemented on August 20 18 10/day. The new tax law stipulates that the comprehensive income of individual residents, after deducting expenses of 60 thousand yuan from the income in each tax year and the balance after special deduction, special additional deduction and other deductions determined according to law, is taxable income. Tax cuts are tilted towards middle and low income. The new tax law stipulates that after this revision, some tax rate bands of individual taxes will be further optimized and adjusted, and the bands of 3%, 10% and 20% will be expanded, and the bands of 25% will be reduced, while the bands of 30%, 35% and 45% will remain unchanged. Tax content: Wages and salary income refer to wages, salaries, bonuses, year-end salary increase, labor dividends, allowances, subsidies and other income related to employment or employment. That is to say, the income obtained by individuals, as long as it is related to their positions and employment, regardless of their unit's capital expenditure channels or in the form of cash, physical objects, securities, etc., are all taxable objects of wages and salaries. Income from the production and operation of individual industrial and commercial households The income from the production and operation of individual industrial and commercial households includes four aspects: (1) Income from the production and operation of urban and rural individual industrial and commercial households that have been approved by the administrative department for industry and commerce and obtained a business license, engaged in industry, handicrafts, construction, transportation, commerce, catering, service, repair and other industries. (2) Income obtained by individuals who have obtained business licenses with the approval of relevant government departments and engaged in school running, medical care, consulting and other paid service activities. (3) Income derived by other individuals from individual industrial and commercial production and operation means income derived by individuals from their temporary production and operation activities. (4) Taxable income related to production and operation obtained by the above-mentioned individual industrial and commercial households and individuals. Income from contracted operation and leased operation of enterprises and institutions refers to the income obtained by individuals from contracted operation and leased operation, as well as from subcontracting and subletting, including the income of wages and salaries obtained by individuals on a monthly or hourly basis. Income from remuneration for labor services refers to individuals engaged in design, decoration, installation, drawing, testing, medical treatment, law, accounting, consulting, lecturing, news, broadcasting, translation, manuscript review, painting and calligraphy, sculpture, film and television, audio recording, video recording, performance, advertising, exhibition, technical service, introduction service, economic service and agency. The term "income from royalties" refers to the income obtained by individuals from the publication of their works in the form of books and newspapers. The "works" mentioned here refer to works that can be published in books, newspapers and periodicals, including Chinese and foreign characters, pictures, music scores, etc. "Personal works" include my own works and translated works. Individuals who receive remuneration for their posthumous works shall be taxed according to the items they receive from remuneration. Royalty income refers to the income obtained by individuals from providing patents, copyrights, trademarks, non-patented technologies and other franchise rights. The income from providing the right to use copyright does not include the income from remuneration. The income obtained by the author from the public auction (bidding) of the original or photocopy of his own written works shall be taxed according to the royalties. Interest, dividends and bonus income refers to interest, dividends and bonus income obtained by individuals who own creditor's rights and equity. Interest refers to personal deposit interest (the state announced that the interest tax will be abolished the next day on October 8, 2008/KLOC-0), payment interest and interest on purchasing various bonds. Dividends, also known as dividends, refer to the investment benefits that stock holders get from joint-stock companies on a regular basis according to the articles of association of joint-stock companies. Dividends, also known as company (enterprise) dividends, refer to the profits of joint-stock companies or enterprises that exceed dividends according to the profits to be distributed. Joint-stock enterprises should pay dividends and bonuses to individual shareholders in the form of shares, that is, distribute bonus shares, and tax should be based on the par value of the shares distributed. Property rental income refers to the income obtained by individuals from renting buildings, land use rights, machinery, equipment, vehicles, boats and other property. Property includes movable property and immovable property. Income from property transfer refers to the income obtained by individuals from transferring securities, equity, buildings, land use rights, machinery and equipment, vehicles, boats and other self-owned property to others or units, including the income obtained from transferring real estate and movable property. No tax will be levied on the income obtained from individual stock trading for the time being. Accidental income Accidental income means that the income obtained by individuals is non-recurring and belongs to all kinds of opportunistic income, including winning prizes, winning prizes, winning lottery and other accidental income (including bonuses, objects and securities). Individuals who purchase social welfare lottery tickets and Chinese sports lottery tickets with a winning income not exceeding 10000 yuan at a time shall be exempted from personal income tax, and those who exceed 10000 yuan shall be taxed in full according to the accidental income items (as of April 2 1 year/day) Other income, except for the above-mentioned 10 taxable items, shall be determined by the financial department of the State Council. The financial department of the State Council refers to the Ministry of Finance and State Taxation Administration of The People's Republic of China. As of1April 30th, 1997, other income items determined by the Ministry of Finance and State Taxation Administration of The People's Republic of China are as follows: (1) Individuals have won the honorary prize of China Academy of Sciences awarded by Cai Guanshen's Honorary Foundation of China Academy of Sciences. (2) The individual obtains the deposit bonus paid by the banking department at an interest rate and a value-preserving subsidy rate that exceed the national regulations. (three) the preferential income of the individual for paying the relevant insurance premiums by the employer. (4) Interest (or similar income paid in other names) paid by the insurance company to life insurers who have not been out of danger during the insurance period at the interest rate of bank savings deposits for the same period. (5) The rebate income or transaction fee return income obtained by individual shareholders from the securities company to attract large shareholders to open accounts in the company and pay part of the transaction fee obtained to large shareholders. (6) Individuals obtain that some units and departments distribute cash, physical objects or securities to relevant personnel of other units and departments in year-end summary, various celebrations, business contacts and other activities. (7) Resignation risk fund. (eight) individuals to provide security for the unit or others to get paid. If it is difficult to define which taxable income item an individual obtains, it shall be examined and determined by the competent tax authorities. The personal income tax threshold will be officially adjusted from 10/0/day. At that time, for us, we can pay less part of the payroll tax, which is a good policy for the benefit of the country and the people, and it is worth our expectation.

Legal objectivity:

Article 2 of the Individual Income Tax Law of the People's Republic of China shall pay individual income tax on the following personal income: (1) Income from wages and salaries; (2) Income from remuneration for labor services; (3) Income from remuneration; (4) Income from royalties; (5) Operating income; (6) Income from interest, dividends and bonuses; (7) Income from property lease; (8) Income from property transfer; (9) Accidental income. Individual income tax shall be calculated on a consolidated basis according to the tax year when individual residents obtain income from items 1 to 4 of the preceding paragraph (hereinafter referred to as comprehensive income); Non-resident individuals who obtain income from items 1 to 4 of the preceding paragraph shall calculate individual income tax on a monthly basis or by sub-item. Taxpayers who obtain income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this law.