Xinhua Beijing on October 10 (Reporter Rosa, Miss) the Ministry of Finance Tax Department, the State Administration of Taxation Income Tax Division is responsible for 10 people in the waiver to answer questions about the collection of interest on savings deposits from individual income tax issues that the Interest on tax policy, tax practice is still sub-calculation.
According to the relevant provisions of the Personal Income Tax Law and the State Council decided on October 9, 2008, the savings on interest income (including RMB and foreign currency savings interest income) waiver to levy personal income tax.
In this regard, the two departments pointed out that the adjustment only in October 2008 after 9 (including the October 9) to seek interest waiver from the personal income tax collection. If a person in January 1, 2007 into the 3-year deposits, in December 31, 2009 expiration. The deposit on January 1, 2007 to August 14, 2007 accrued interest, according to the 20% rate of taxation of personal income tax; August 15, 2007 to October 8, 2008 accrued interest, according to the 5% The rate of personal income taxation; October 9, 2008 after accrued interest, exempt from personal income tax. As for the depositors in October 9, 2008 after the deposit of the bank to seek interest on savings deposits, the waiver will be collecting personal income tax.
In addition, interest on savings deposit interest tax based on breeding different time, different tax rates still apply. The interest rate on savings deposits from individual income tax levy waiver, the savings deposits in October 31, 1999 accrued interest, not to collect personal income tax; in savings deposits on November 1, 1999 to August 14, 2007 the breeding Interest, in accordance with the 20% rate of personal income tax; savings deposits in August 15, 2007 to October 8, 2008 accrued interest, according to the 5% rate of personal income tax; savings deposits in October 2008 after 9 ( With Oct. 9) accrued interest, the collection of personal income tax waiver.
Since November 1, 1999 on the savings deposit interest income to resume collecting personal income tax, interest tax in encouraging consumption and investment, a reasonable regulation of personal income to increase revenue, and so has played an active role. The two departments said that China's response to the new socio-economic situation of the savings deposit interest income waiver to levy personal income tax, in favor of personal savings deposits increased earnings, in line with the national macro-control.
At the same time, the two departments said that the interest covers a wide range of tax, related to the vital interests of the overwhelming majority of ordinary people. In order to ensure the waiver interest tax policies were implemented at all levels of finance, taxation, banking supervision departments should strengthen coordination and cooperation, and successfully carry out follow-interest tax management.
Since the decision of the State Council on the 9th of the savings from interest income waiver to levy personal income tax. Yesterday, the Ministry of Finance and Administration of Taxation issued "on the savings deposit interest income related to personal income tax policy," which further defined the pre-tax interest on savings deposits Tingzheng seek interest on the proceeds of collection of personal income tax. Click details
Xinhua Beijing on October 8 (Reporter Miss Wang Yu) in accordance with the relevant provisions of the Personal Income Tax Law and the State Council decided on October 9, 2008, interest on savings deposits from individual income tax levy waiver. Click details
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