Attention everyone: starting today, taxpayers can handle the 2023 individual income tax reconciliation without making an appointment
At the beginning of March, the tax refund begins
Many netizens posted their tax refund amounts
Many reach tens of thousands of yuan
There are small partners who need to pay taxes
There are also friends who do not return or make up
Attention to those who haven't handled it yet
Xiaobu brings you the most complete guide
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Who needs to file the annual tax settlement?
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Generally speaking, as long as the amount of tax prepaid by the taxpayer is inconsistent with the annual tax payable, the taxpayer needs to go through the annual tax settlement. According to the relevant provisions of the Individual Income Tax Law and its implementing regulations, the circumstances that require annual reconciliation are divided into the following categories:
The first category is taxpayers who need to apply for a tax refund because the amount of tax prepaid is higher than the tax payable. It is the right of taxpayers to apply for a tax refund in accordance with the law. As long as the amount of tax paid in advance is greater than the tax payable in the tax year, the taxpayer can apply for the annual tax refund in accordance with the law.
The second category is taxpayers whose prepaid tax is less than the tax payable and should pay tax and the tax amount exceeds 400 yuan.
The third category is taxpayers who under-declare or fail to declare their comprehensive income in 2023 due to the wrong applicable income items or the withholding agent's failure to perform their withholding obligations in accordance with the law, and shall handle the final settlement according to the law.
Who doesn't need to apply for it
2023 Annual Reconciliation?
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According to the relevant provisions of the Individual Income Tax Law and its implementing regulations, there is no need to handle the annual tax settlement, mainly including the following situations:
The first category is taxpayers whose prepaid tax amount is consistent with the annual tax payable, and these taxpayers do not need to refund the tax and do not need to go through the annual tax settlement.
The second category is to exempt taxpayers who obtain an annual comprehensive income of no more than 120,000 yuan or a tax payment amount of no more than 400 yuan from January 1 to December 31, 2023. It should be noted that if the withholding agent fails to withhold and pay the tax in accordance with the law when the taxpayer obtains the comprehensive income, it is not exempted from the annual final settlement.
When should the taxpayer be
Doing the annual tax settlement?
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The 2023 annual tax settlement period is from March 1 to June 30, 2024. Among them, taxpayers who do not have a domicile in China can apply for annual reconciliation before leaving China if they leave China early. Taxpayers who need to handle the final settlement in the initial stage (March 1 to March 20) can make an appointment for any of the above time periods through the IIT app after February 21 according to their own circumstances. From March 21 to June 30, taxpayers do not need to make an appointment and can apply at any time. It should be noted that in order to help taxpayers complete the annual reconciliation in an efficient, convenient, reasonable and orderly manner, the tax authorities will notify taxpayers in batches and installments in a certain way to remind taxpayers to handle the off-peak processing within the determined time period, and it is recommended that taxpayers try to handle it within the agreed time to avoid tax congestion and affect the tax experience.
How should taxpayers handle the final settlement?
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There are three main ways to settle the tax settlement:
The first is to do it yourself, that is, taxpayers handle it by themselves. The tax authorities provide an efficient and fast online tax channel, and it is recommended that taxpayers give priority to the online tax bureau for annual tax settlement, especially the individual income tax APP. For special groups such as the elderly and those with limited mobility who have difficulty completing the annual reconciliation independently, the taxpayer shall apply for it, and the tax authorities can also provide personalized annual reconciliation services.
The second is the unit office, that is, please handle it with the employing unit. If the taxpayer submits a request to the unit on behalf of the employer, the unit shall handle it, or train and counsel the taxpayer to complete the annual final settlement declaration and tax refund (supplement) by itself through the online tax bureau.
The third is to ask someone to handle it, that is, to entrust tax-related professional service institutions or other units and individuals to handle it.
7 special additional deductions for individual income tax
Taxpayers can give priority to the final settlement through the IIT APP and website, and the tax authorities will provide taxpayers with pre-filling services for the items in the declaration form, and under normal circumstances, taxpayers do not need to provide other information. If you need to modify your relevant basic information and add deductions or tax incentives, you need to fill in the relevant information and provide supporting materials as required. Taxpayers need to check carefully to ensure that the information filled in is true, accurate and complete.
Special additional deduction for children's education
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Special additional deduction for continuing education
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Additional deductions for medical treatment for serious illnesses
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Special additional deduction for housing loan interest
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Special additional deduction for housing rent
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Special additional deduction for supporting the elderly
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Special additional deduction for infant and child care under the age of 3
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This year, the special additional deduction will be strengthened
What are the regulatory measures?
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On August 31, 2023, the State Council issued the Notice on Raising the Special Additional Deduction Standards for Individual Income Tax (Guo Fa [2023] No. 13), raising the special additional deduction standards for infant and child care under the age of 3, children's education, and support for the elderly. After the standard is raised, the vast majority of taxpayers will automatically deduct the tax payable of the current year according to the new standard in subsequent months. There are also a small number of taxpayers who cannot complete the deduction in the withholding stage of the current year, or do not choose to fill in the deduction in the withholding stage, which needs to be filled in when handling the 2023 annual reconciliation.
In the process of collection and management, the tax department found that a small number of taxpayers incorrectly or even falsely filled in the special additional deductions. For the case of failure to fill in the special additional deduction in accordance with the regulations, such as the husband and wife filling in the special additional deduction for children's education according to the proportion of 100% or tampering with the supporting materials to enjoy the special additional deduction for serious illness medical treatment, etc., once discovered, the tax authorities will remind them through the individual income tax APP, website or withholding agent. If a taxpayer is newly entitled to deductions or tax incentives, he or she shall fill in the relevant information and provide supporting materials. If the taxpayer refuses to make corrections or fails to explain the situation, the tax authorities will suspend the special additional deduction in accordance with the announcement of the Ministry of Finance and the State Administration of Taxation on relevant policy issues involved in the final settlement of individual income tax comprehensive income (No. 94 [2019]). Taxpayers can continue to enjoy special additional deductions after correcting relevant information or explaining the situation in accordance with regulations.
For taxpayers who have not declared or paid back tax in full
What regulatory measures will be taken?
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If a taxpayer who needs to pay tax after the final settlement fails to declare the tax payment or fails to pay the tax in full after the end of the final settlement period, once it is found, the tax authorities will order the taxpayer to make corrections within a time limit and serve the relevant tax documents to the taxpayer in accordance with the law. At the same time, the tax authorities will impose a late payment penalty in accordance with the law and mark it in the tax record of individual income tax.
Taxpayers are requested to handle the individual income tax settlement in accordance with the law to avoid affecting their tax credit.
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Source: State Administration of Taxation, Chinese government website
Editor: Wuxi Publishing Studio