Personal income tax rate table for wages 2023

Legal Subjective:

Since the implementation of the tax reform on January 1, 2019, the personal income tax that individuals need to pay has changed accordingly. Not only has the starting point been raised, but you can also enjoy exclusive additional deductions as well as social security deductions, which also means that the salary in hand has gone up. The first personal income tax rate table 20191, salary range in the following 5000 yuan, do not need to pay personal income tax. 2, salary range in 5001 yuan -8000 yuan, pay personal income tax rate of 3%. 3, salary range in 8001 yuan -17000 yuan, pay personal income tax rate of 10%. 4, salary range in 17001 yuan -30,000 yuan, pay personal income tax rate of 10%. 5, salary range in 17001 yuan -30,000 yuan, pay personal income tax rate of 10%. 6, salary range of 5001 yuan -30,000 yuan, pay personal income tax rate of 10%. The individual income tax rate is 20%.5 The individual income tax rate is 25% for wages in the range of RMB 30,001-40,000.6 The individual income tax rate is 30% for wages in the range of RMB 40,001-60,000.7 The individual income tax rate is 35% for wages in the range of RMB 60,001-85,000.8 The individual income tax rate is 35% for wages in the range of RMB more than 85,000 yuan, there is no upper limit, pay personal income tax rate of 45%. Individual Income Tax Calculation Formula 1. Accumulated Withholding and Payment of Taxable Income = Accumulated Income - Accumulated Tax-Exempt Income - Accumulated Deductions - Accumulated Special Deductions - Accumulated Special Additional Deductions - Accumulated Other Deductions Determined in accordance with the Law 2. Withholding and Payment of Taxes for the Current Period = (Accumulated Withholding and Payment of Taxable Income×Withholding Ratio - Immediate Deductions)- Accumulated Tax Reductions and Deductions - Accumulated Withholding and Payment of Taxes Cumulative amount of taxes already withheld and paid III. The main contents of the amendment 1. Improvement of the provisions concerning taxpayers. The two types of taxpayers under the current Individual Income Tax Law are essentially resident individuals and non-resident individuals, but no conceptual categorization has been made explicitly. The new Individual Income Tax Law explicitly introduces the concepts of resident individuals and non-resident individuals.2. Implementing comprehensive taxation on part of labor income. The new tax law includes four types of labor income (hereinafter referred to as comprehensive income), including wages and salaries, remuneration for labor services, remuneration for manuscripts, and royalties, into the scope of comprehensive taxation.3 Optimizing and adjusting the structure of tax rates. The first is the comprehensive income tax rate, and the second is the business income tax rate. The second is the tax rate for business income. 4. Increase the basic deduction standard for comprehensive income. Increase the basic deduction standard for wages, salaries, remuneration income, manuscripts and royalties to 5,000 yuan/month (60,000 yuan/year). 5. Establish special additional deductions. Special additional deductions that are closely related to people's lives, such as expenses on children's education, continuing education, medical expenses for serious illnesses, interest on housing loans and housing rent, etc., have been added. 6. Increase in anti-avoidance provisions. Empowering the tax authorities to make tax adjustments according to reasonable methods. It is stipulated that if the tax authorities make tax adjustments and need to make up the tax, they should make up the tax and add interest according to the law. In summary, the official implementation of the tax reform began in 2019, and the starting point for personal income tax payment was raised from 3,500 yuan to 5,000 yuan, and provisions were also added to provide for a number of special additional deductions and other contents that are closely related to the lives of the people.

Legal Objective:

The People's Republic of China*** and the State Individual Income Tax Law, Article 3 Individual income tax rates: (a) comprehensive income, the application of three percent to forty-five percent of the ultra-progressive tax rate (tax rate table attached); (b) business income, the application of five percent to thirty-five percent of the ultra-progressive tax rate (tax rate table attached); (c) interest, dividends, (c) Interest, dividend, bonus income, property rental income, property transfer income and incidental income, applying a proportional tax rate, the tax rate is 20 percent.