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Income Tax Refund (PIT) in China

CALCULATION OF PIT:

1. Personal income tax = taxable income × applicable tax rate - accelerated deduction;

2. The standard deduction rate is RMB 5,000 per month (applied to wages and wage income);

3. Taxable income = monthly income after three insurances and one standard housing deduction;

 

The tax can be paid through online banking, through bank transfers, or by paying with a credit card at the POS machine in the tax hall.

You do not have to pay personal income tax yourself. If you are an employee of a company, you cannot pay personal income tax yourself, but the company pays it uniformly, which can prevent the company from evading taxes.

 

Taxpayers who meet the requirements for final settlement and payment must, within March 1 - June 30 of the following year after receiving income, complete the final settlement and payment with the competent tax authority at the place of work. If there is no position or employer, this must be processed by the competent tax authority at the place of registration of the household or habitual residence.

 

With respect to income of resident individuals in the form of interest, dividends, bonuses, rental income, property transfer income and windfall income, the withholding agent must withhold and pay taxes on a monthly or timely basis. If the withholding agent does not withhold the tax, the taxpayer must pay the tax to the competent tax authority by June 30 of the year after receiving the income. The deadline for filing a personal income tax return is by the 15th of each month, and it will be carried over to public holidays.

 

INSTRUCTIONS FOR THE REFUND OF PIT:

According to the "Notice of the State Administration of Taxation of China on the Settlement and Payment of Comprehensive Personal Income Tax":

1. Taxpayers applying for annual tax credits must provide relevant bank accounts opened in China. After verification by the tax authority in accordance with the regulations and the relevant regulations of the state treasury department, the tax refund must be processed on the spot at the location of the tax authority that accepts the annual final report. If the taxpayer does not provide a valid bank account or the information provided is incorrect, the tax authority will notify the taxpayer of the corrections and the taxpayer will process the tax refund after the necessary corrections have been made.

2. In order to facilitate tax refunds for taxpayers, if the taxpayer's total income for the previous year did not exceed 60,000 yuan and individual income tax was paid, the tax authority provides convenient online tax bureau tax refund functions (including personal income tax mobile software) . From March 1, 2021 to May 31, 2021, the annual tax credit can be claimed using a simple declaration form.

 

3. Taxpayers who apply for an annual tax reconciliation can be paid through online banking, bank meters, non-bank payment institutions, etc.

 

DOCUMENTS FOR APPLICATION FOR PIT REFUND:

1. One original and one copy of the tax receipt (the original will be returned to the taxpayer after verification);

2. A copy of the individual income tax return form for the period of collection and non-payment of taxes;

3. Application for tax refund in four copies;

4. When applying for a tax refund, the reasons for applying for a tax refund and the amount of the tax refund must be indicated;

5. Copy of pay slip or bank statement;

6. A copy of the employee's employment contract;

7. If the tax is paid in error, then the "Report" issued by the above department must be attached;

8. Other relevant certificates and materials required by the tax authority.

 

The materials and content submitted by taxpayers must be true and complete.

All photocopies are stamped with official seals and standard A4 size paper samples, forms are filled in with a black pen. If the materials are in foreign languages, a translation must be attached.

 

There is a deadline for filing an application for a personal income tax refund, as a rule, the application is processed within 30 business days after receipt of materials

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