Interpretation Of Finance And Taxation: How To Pay Personal Income Tax On Investment And Financing

According to the provisions of No. forty-eighth of the president of the People's Republic of China on the law of the People's Republic of China on personal income tax, the proceeds from the spanfer of property spanferred by individuals, such as negotiable securities and shares, shall be the proportion of the taxable income and the proportional tax rate after the deduction of the original value of the property and the reasonable expenses after the spanfer of property proceeds. tax rate It is twenty percent. The original value of the property of the securities is the buying price and the relevant expenses paid according to the regulations when buying.

The Ministry of finance, the State Administration of Taxation of the Ministry of finance, and the State Administration of Taxation on the opening of securities investment funds related tax issues circular second [2002] 128: individuals. Investor The difference income derived from the purchase and redemption of the fund unit will not be subject to personal income tax until the individual income tax is paid on the difference between individual purchase and sale of stock.

Due to the current personal income tax on personal sale and purchase of shares, the individual income tax is not collected for individual investors to purchase and redeem the fund's difference income.

The State Administration of Taxation issued a document in 2006, stipulates that people who earn more than 120 thousand yuan a year should declare their income on their own, and the income from investing in the stock market also needs to be declared. This was once seen as a prelude to levying capital gains tax on stock earning. At that time, the stock market had plummeted. Later, the head of the State Administration of Taxation has made it clear that individuals who have annual income of more than 120 thousand yuan, including the proceeds from the spanfer of stocks, should declare by themselves. It is understood that the Levy of personal income tax on the spanfer of shares is not true. At present, the State Administration of Taxation will not impose "capital gains tax".

In order to coordinate the restructuring of our enterprises and encourage the healthy development of the securities market, the Ministry of Finance and the State Administration of Taxation issued the Circular of the Ministry of Finance and the State Administration of Taxation on temporarily collecting personal income tax on stock spanfers in 1994, and issued the article in 1996. Treasury Department The Circular of the State Administration of Taxation on the income from stock spanfer in 1996 is not collected on personal income tax. "In 1998, the circular issued by the Ministry of finance of the Ministry of Finance and the State Administration of Taxation on individual spanfer of stock proceeds is temporarily exempted from the collection of personal income tax". Since 1994, individual income tax has been temporarily exempted from the spanfer of shares.

In the 2010 year, six ministries and commissions jointly issued several opinions on promoting the development of the gold market, referring to the tax policy on promoting gold investment in investment gold and commercial banks. As of today, the General Administration has not clearly stipulated that with the increase in demand for gold investment, relevant laws and regulations need to be clarified and improved so as to prevent inconsistencies in implementation.

At present, bank gold and silver T+D business generally do not collect personal income tax. However, some areas clearly need to pay personal income tax. For example, when the Local Taxation Bureau of Jiangsu province answered the taxpayer's questions in 2011, it was clear that according to the provisions of the People's Republic of China personal income tax law and the implementing regulations, the income gained from personal sale of paper and gold and other financial commodities should be calculated according to the item of "spanfer of property". The income from the spanfer of property should be deducted from the original value of the property and the balance after the reasonable expenses. The taxable income shall be calculated at 20% of the tax rate and the personal income tax shall be calculated.