What tax should I pay on commission income?
Personal income tax shall be paid on commission income.
1. According to the Individual Income Tax Law of People's Republic of China (PRC) and its implementing regulations, individual income tax shall be paid according to the income from remuneration for labor services.
2. The composition of commission income is exhibition fee and labor remuneration respectively. There is no need to levy personal income tax on the cost of convention and exhibition industry. According to the current actual situation, the cost ratio of the exhibition industry is tentatively set at 40% of each income.
3. The commission income obtained within one month shall be regarded as one income. First, the actual business tax and surcharges shall be deducted from each income, and then the balance from the exhibition cost stipulated in Article 2 of this announcement shall be deducted, and personal income tax shall be calculated and paid in accordance with the relevant provisions of the Individual Income Tax Law.
How to calculate the taxable income and personal income tax of commission income?
1. How do personal agents (brokers) of insurance and securities companies calculate taxable income?
First, deduct the actual local tax surcharge from the monthly commission income, then deduct the exhibition cost, and finally deduct the statutory deduction fee as taxable income. When determining the expense deduction standard, it should be noted that the balance of commission income excluding tax after deducting local tax surcharges and exhibition expenses is regarded as taxable commission income, and then the expense deduction amount is determined.
2. How do personal agents in credit cards, tourism and other industries calculate taxable income?
First of all, the monthly commission income excluding value-added tax is deducted from the actual local tax surcharge, and then the legal deduction fee after the previous calculation is deducted, and the final balance is taxable income.
How to calculate the tax payable?
According to the relevant provisions of the tax law, the basic tax rate of labor remuneration is 20%. For the part of taxable income exceeding 20,000-50,000, 50% shall be levied according to 30% of the actual taxable amount, and for the part exceeding 50,000 yuan, 40% shall be levied according to 100% of the actual taxable amount.