Retail investors do not need to pay personal income tax on their income from futures trading, and retail investors only pay handling fees and do not pay personal income tax. Futures and spot are completely different. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts based on some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.

I. Individuals who pay income tax

1. Legal object

Taxpayers of personal income tax in China are those who live in China and those who do not live in China, including citizens in China, foreigners who get income from China and compatriots from Hong Kong, Macao and Taiwan.

2. Resident taxpayers

Individuals who have a domicile in China or have no domicile in China for 1 year are resident taxpayers and should bear unlimited tax obligations, that is, they should pay individual income tax according to law on their income obtained in China and abroad.

3. non-resident taxpayer

Individuals who have neither domicile nor residence in China, or who have lived in China for less than one year, are non-resident taxpayer, bear limited tax obligations, and pay personal income tax according to law only on their income obtained from China.

Two. Content of individual income tax collection

1. Wage and salary income

Income from wages and salaries refers to wages, salaries, bonuses, year-end salary increase, labor dividends, allowances, subsidies and other income related to employment. That is to say, as long as the income obtained by an individual is related to his position and employment, regardless of the capital expenditure channel of his unit or in the form of cash, physical objects and securities. , are the tax targets of wages and salaries.

2. Income from production and operation of individual industrial and commercial households

The income from the production and operation of individual industrial and commercial households includes four aspects:

(1) Urban and rural individual industrial and commercial households have been approved by the administrative department for industry and commerce to start business and obtain a business license, and engaged in the production and operation of industries such as industry, handicrafts, construction, transportation, commerce, catering, service and repair.

(2) Income obtained by individuals who have obtained business licenses with the approval of relevant government departments and engaged in paid service activities such as running schools, medical care and consulting.

(3) Income obtained by other individuals from individual industrial and commercial production and operation refers to income obtained by individuals from temporary production and operation activities.

(four) the taxable income related to production and operation obtained by the above-mentioned individual industrial and commercial households and individuals.