Is social security deducted from the personal income tax threshold?

Deduct. The tax threshold is determined after deducting five insurances and one gold. The taxable amount of individual wage income is the balance after deducting five insurances and one gold, deducting expenses of 60,000 yuan and special additional deductions from the total wage income of the individual in that year, and the applicable tax rate is excessive progressive tax rate. According to the laws of our country, other deductions determined by the individual income tax law include paying enterprise annuities and occupational annuities that meet the requirements of the state, and purchasing commercial health insurance and tax deferred commercial endowment insurance that meet the requirements of the state.

The full name of each tax is personal income tax. Personal income tax is the general name of legal norms that adjust the social relationship between tax authorities and natural persons in the process of personal income tax collection and management. Taxpayers of personal income tax in China are those who live in China and those who do not live in China, including citizens in China, foreigners who get income from China and compatriots from Hong Kong, Macao and Taiwan.

In short, in order to reach the standard wage, social security and various expenses should be deducted from the wage, and then the tax threshold of 5,000 yuan should be lowered, and the personal income tax should be deducted from the remaining wages accordingly.

Legal basis:

individual income tax law of the people's republic of china rules for its implementation

Article 25 provides that

According to state regulations, the basic old-age insurance premium, basic medical insurance premium, unemployment insurance premium and housing accumulation fund paid by units and individuals are deducted from the taxable income of taxpayers.