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How much tax is estimated to be paid on the annual total income of 140000 yuan

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How much tax is estimated to be paid on the annual total income of 140000 yuan


        

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  • 2024-06-17 13:01:39

    The amount of individual income tax is 33945.00 yuan. The calculation formula of individual income tax on wages is: the amount of tax payable (income from wages and salaries - "five insurances and one fund" - deductions) × the applicable tax rate - quick calculation deductions. The threshold of individual income tax is 3500. The calculation method using the excess progressive tax rate is as follows: the tax rate of taxable income for the whole month of tax payment - quick calculation deductions - paid wages and salaries - four funds - tax payment. Monthly taxable income (wages payable - four allowances) - 3500 deduction standard: the individual income tax rate is the ratio between the individual income tax amount and the taxable income amount according to the threshold of 3500 yuan. The amount of annual income required to pay individual income tax is determined by the corresponding national laws and regulations, and is calculated according to individual income. Paying individual income tax is the obligation of citizens whose income reaches the payment standard.

    Legal basis

    Article 3 of the Individual Income Tax Law of the People's Republic of China:
    (1) For comprehensive income, progressive tax rates ranging from 3% to 45% for excess income shall apply (the tax rate table is attached below);
    (2) The excess progressive tax rate of 5% to 35% shall apply to business income (the tax rate table is attached below);
    (3) Income from interest, dividends and bonuses, income from the lease of property, income from the transfer of property and incidental income shall be subject to a proportional tax rate of 20 per cent.

    Li***

    2024-06-17 13:01:39

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