[Dahe Finance Cube Reporter Chen Yuyao] On the first day of March, “Personal Income Tax Refund” flooded the screen on WeChat Moments and Weibo. In the early morning of the 1st, some netizens came to get a tax refund and got a refund of more than 31,000 yuan. Some netizens also sa

[Dahe Finance Cube Reporter Chen Yuyao] On the first day of March, “Personal Income Tax Refund” flooded the screen on WeChat Moments and Weibo.

html In the early morning of the 1st, some netizens came to get a tax refund and got a refund of more than 31,000 yuan.

Some netizens also said that they still have to pay more than 9,000 yuan.

According to data from previous years, many taxpayers who participate in individual tax settlement can enjoy tax refunds, and the proportion of those who pay tax is relatively low.

Who can get tax refund? How to calculate tax refund amount? Please accept this "Happy Guide":

According to the "Announcement on Handling the Final Settlement and Settlement of Comprehensive Personal Income Tax in 2023" issued by the State Administration of Taxation, starting from March 1, 2024, the comprehensive personal income tax in 2023 will usher in Annual reconciliation of income.

Individual residents need to summarize the income from four comprehensive incomes including wages and salaries, labor remuneration, author remuneration, and royalties from January 1 to December 31, 2023, deducting 60,000 yuan in expenses and special deductions and special items. After additional deductions, other deductions determined in accordance with the law and qualified donations to charitable causes, the comprehensive income personal income tax rate is applied and the quick calculation deductions are subtracted to calculate the final tax payable, and then the prepaid tax amount in 2023 is deducted to arrive at the payable amount. For the amount of tax refund or tax payable, declare to the tax authorities and handle the tax refund or tax payback.

If one of the following circumstances is met, the taxpayer needs to go through a final settlement:

(1) The amount of prepaid tax is greater than the tax payable in the final settlement and a tax refund is applied for;

(2) The comprehensive income obtained in 2023 exceeds 120,000 yuan and The amount of tax surcharge required in the final calculation exceeds 400 yuan.

If the applicable income items are incorrect or the withholding agent fails to perform the withholding obligations in accordance with the law, resulting in under-declaration or failure to declare comprehensive income in 2023, the taxpayer shall handle the final settlement in accordance with the law and the facts.

The specific calculation formula is as follows:

The amount of tax that should be refunded or paid = [(comprehensive income amount - 60,000 yuan - special deductions such as "three insurances and one housing fund" - special additional deductions such as children's education - other deductions determined in accordance with the law - eligible Charitable donations) × Applicable tax rate - Quick calculation deductions] - Prepaid tax

The calculation does not involve the taxpayer's property leasing and other classified income, as well as income that is not incorporated into comprehensive income for tax calculation according to regulations.

It is worth noting that data from the Ministry of Finance show that the national personal income tax in 2023 will be 1.4775 billion yuan, a year-on-year decrease of 1%.

(Dahe.com)