Institutions tax bonus
Units issued on the cause of various forms of money more than the state imposed a tax exemption limit for a specific purpose tax.
Institutions tax is a bonus tax money to a specific category. In 1985 the State Council issued the "Interim Provisions on institutions bonus tax" on business units from January 1, 1985 bonus from the tax levy.
Taxpayers money is the public ownership and collective ownership of all business units, individual workers do not pay the bonus tax.
Tax levied on bonus units issued is the cause of various forms of bonuses and bonuses Properties of wages, allowances, subsidies, in-kind incentives.
Bonus tax rate with progressive rates, the progressive level bonuses throughout the year by the taxpayer from the total amount of standard equivalent to the average monthly wage (or minimum wage) by a multiple. Tax rate is 30%, 100% and 300% 3 files. 1987, adjusted to 20%, 50%, 100% and 200% 4 files.
Bonus tax exemption limit, respectively, in 1985, funding for self-sufficiency level of institutions defined as 1 to 3-month average basic wage. Adjust the duty-free quota of 1988, 1.5 to 4.5 months for the average basic wage.
Bonus payment of tax, where the taxpayer during the year exceeds the cumulative bonuses tax-free limit, after the prizes should be taxed, the tax paid in the reward fund. Tax shall be levied annual bonuses, pay-per advance, year-end final _set_tlement of the collection methods.
Bonus tax relief provisions are:
(1) the standards _set_ by national unity and scope to allow payment of various allowances and food subsidies, price subsidies are not included in the prize amount;
(2) issue of mining workers, porters, construction workers, oil and gas workers bonuses tax-free;
(3) issued in accordance with the provisions of the creation of the State Invention Award, rationalization proposals and technical improvements Award, Natural Science Award exemption;
(4) the specific approved pilot fuel, raw materials duty-free savings Award;
(5) other approved tax breaks.
The role of the bonus tax levy:
(1) to promote the implementation of the internal responsibility system for enterprises to mobilize enterprises and workers to develop production and improve the economic efficiency of the initiative.
(2) may have planned to gradually increase the income level of workers.
(3) from the macro-control the excessive growth of consumption funds. 1994 tax reform, the abolition of the bonus tax institutions. |
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