In Zhejiang Taizhou, if the social security base is 15600, the tax deduction is calculated as follows:
- Calculate Social Security Deductions:
- Pension Insurance: The individual contribution is usually 8% of the wage. So, for a social security base of 15600, the pension insurance deduction is yuan.×8%=
- Medical Insurance: Generally around 2%. Thus, the medical insurance deduction is yuan.×2%=
- Unemployment Insurance: Approximately 0.2% - 1%. Taking 0.5% as an example, the unemployment insurance deduction is yuan.×0.5%=
- Total Social Security Deductions: The sum of pension, medical, and unemployment insurance deductions is yuan.++=
- Calculate Taxable Income:
- The formula for taxable income is: Taxable income = Monthly income - 5000 yuan (tax threshold) - Special deductions (such as social security) - Special additional deductions - Other deductions determined by law.
- Assuming no special additional deductions and other deductions, with a social security base of 15600 (equivalent to monthly income in this context), the taxable income is yuan.−−=
- Calculate Personal Income Tax:
- According to the personal income tax rate table:
- For the part where the taxable income does not exceed 3000 yuan, the tax rate is 3%, and the quick - calculation deduction is 0.
- For the part exceeding 3000 yuan to 12000 yuan, the tax rate is 10%, and the quick - calculation deduction is 210.
- For a taxable income of 8962 yuan, the tax calculation is as follows:
- The part not exceeding 3000 yuan is taxed at 3%, which is yuan.×3%=
- The part exceeding 3000 yuan (yuan) is taxed at 10%, which is −=yuan.×10%=596.2
- The total personal income tax is yuan.+596.2=686.2
It should be noted that if there are special additional deductions (such as deductions for children's education, housing loans, etc.), the taxable income and the amount of tax paid will be further reduced.
