Tax Payment System For Financial Products

According to the provisions of People's Republic of China's personal income tax law No. forty-eighth of the president of the People's Republic of China, the interest, dividends and dividends earned by individuals who own creditor's rights and shares are taxable income from each income, and the proportional tax rate is twenty percent.

The same is the personal income tax, because of different identity, the same business is faced with different tax obligations, individual purchase of bank financial products generated interest income does not need to pay taxes, and partnership business to buy financial products interest income need to pay taxes.

The Tax Commission issued by the Ministry of finance of the Ministry of Finance issued a separate stipulation. According to the provisions of the fiscal and taxation regulations No. 2012, No. 85 of the Ministry of Finance and the State Administration of Taxation of the State Council on the implementation of the notice on the implementation of the dividend policy on the dividends of listed companies, the dividend dividends derived from dividends paid by listed companies need to be confirmed according to the holding time. The duration of the shareholding is less than 1 months (including 1 months), and the dividend income is paid in full according to 20%. If the holding period is over 1 months to 1 years (including 1 years), the dividend income can be included in the taxable income of the shareholders according to 50%, that is, the actual tax rate will be 10%. If the shareholding period exceeds 1 years, the dividend income can be calculated according to 25% of the individual taxable income of the shareholders, that is, the actual tax rate has changed to 5%.

The Ministry of finance, the State Administration of Taxation of the Ministry of Finance and the State Administration of Taxation on the opening of the securities investment fund on the issue of tax issues, fiscal second [2002] 128, second stipulates that dividends, bonus income, interest income on bonds, interest income of savings deposits earned by the fund shall be withheld by the listed companies, bonds issuing enterprises and banks in the above-mentioned income era.

The "balance treasure" mentioned at the beginning of this article is linked to related funds, and users directly purchase funds and other financial products on their website. For example, "balance treasure" is equivalent to purchasing money fund products of Celestica fund management company. Therefore, similar to the purchase of ordinary fund products, no personal income tax is collected.

According to the law of the People's Republic of China on personal income tax, National debt Interest on financial bonds issued by the state is exempt from personal income tax.

For banks financial products There is no specific provision in the general administration. In practice, most banks fail to withhold and pay personal income tax, which can be corroborated from the "hot spot answers to personal income tax of Qingdao land tax 2012", Qingdao. Land tax It is pointed out that there are many kinds of financial products sold through banks. There are financial products developed by banks themselves, and there are products sold by banks on behalf of trust companies or insurance companies, as well as entrusted loans. After consulting the General Administration, personal income tax is not levied on the personal income obtained above.

In this case, there is a need to distinguish between a partnership specializing in investment and two natural partners. Bought bank financial products. At the end of the year, when a partnership calculates the personal income tax payable by a partner, is it necessary to pay personal income tax on this part of the financial income?

The notice of the State Administration of Taxation on strengthening the Levy of personal income tax for high-income earners is stipulated in regulation No. 50 of the state tax [2011]: the income obtained from individual proprietorship enterprises and partnership enterprises engaged in trading of equity (tickets), futures, funds, bonds, foreign exchange, precious metals, resource exploitation rights and other investment commodities shall be fully incorporated into the production and operation income, and the individual income tax shall be levied according to law.