In Zhejiang Wenzhou, if the social security base is 17,400 yuan, the tax calculation is as follows:
- Determine the taxable income:
- First, calculate the social security contributions.
- Pension insurance: The individual contribution rate is usually 8%, so the individual's pension insurance contribution is yuan.×8%=
- Medical insurance: The individual contribution rate is about 2%, so the individual's medical insurance contribution is yuan.×2%=
- Unemployment insurance: The individual contribution rate is generally around 0.5%, so the individual's unemployment insurance contribution is yuan.×0.5%=
- The total individual social security contribution is yuan.++=
- Then, calculate the taxable income. The formula for taxable income is: Taxable income = Monthly income - 5000 yuan (tax - free threshold) - Special deductions (social security, etc.) - Special additional deductions - Other deductions determined in accordance with the law. Assuming there are no special additional deductions and other deductions, the taxable income is yuan.−−=
- Determine the applicable tax rate and quick - deduction amount:
- According to the personal income tax rate table for comprehensive income in China:
- If the annual taxable income does not exceed 36,000 yuan, the tax rate is 3% and the quick - deduction amount is 0.
- If the annual taxable income exceeds 36,000 yuan to 144,000 yuan, the tax rate is 10% and the quick - deduction amount is 2520.
- Since the monthly taxable income is 10,573 yuan, the annual taxable income is yuan, which falls into the range of exceeding 36,000 yuan to 144,000 yuan. So the applicable tax rate is 10% and the quick - deduction amount is ×=yuan per month.÷=
- Calculate the personal income tax:
- The formula for calculating personal income tax is: Personal income tax = Taxable income × Applicable tax rate - Quick - deduction amount.
- Substitute the values: Personal income tax = yuan.×10%−=1057.3−=847.3
In summary, when the social security base in Wenzhou is 17,400 yuan, assuming no special additional deductions and other deductions, the monthly personal income tax is approximately 847.3 yuan. Note that if there are special additional deductions (such as for children's education, housing loan interest, etc.), the taxable income and the resulting tax amount will be adjusted accordingly.
