From 20 11September1day, Chinese mainland's tax exemption will be adjusted to 3500 yuan.

Latest regulations

On October 27th, 2005, the 18th meeting of the Standing Committee of the 10th NPC of People's Republic of China (PRC) adopted the Decision of the NPC Standing Committee on Amending the Individual Income Tax Law of People's Republic of China (PRC), which came into effect on October 27th, 2006.

On the afternoon of June 30th, the 21st meeting of the 11th the NPC Standing Committee of People's Republic of China (PRC) passed the Decision of the NPC Standing Committee on Amending the Individual Income Tax Law. According to the decision, the exemption amount will be increased from the current 2,000 yuan to 3,500 yuan, and will be implemented from September 20 1 1 year.

Calculation method of income tax on wages and salaries

Individual income tax = (total wages)-(three insurances and one gold)-(exemption amount) }X tax rate-quick deduction amount

Monthly taxable income, tax rate and quick deduction (yuan)

Monthly taxable income does not exceed 1500 yuan 3% 0.

Monthly taxable income exceeds 1500 yuan to 4,500 yuan 10% 105.

If the monthly taxable income exceeds 4,500 yuan to 9,000 yuan, 555 will be reduced by 20%.

Monthly taxable income exceeds 9000 yuan to 35000 yuan, 25% 1005.

Monthly taxable income exceeds 35,000 yuan to 55,000 yuan, 30% 2,755.

The monthly taxable income exceeds 55,000 yuan to 80,000 yuan, 35% 5505.

Monthly taxable income exceeds 80,000 yuan 45% 65,438+03,505.