The calculation method of personal income tax usually involves the following steps:
1.Determine your taxable income: First, you need to determine the total amount of all your taxable income, such as salary income, investment income, house rent, etc. Then, the taxable income is obtained by deducting the individual's social insurance premiums, housing provident fund and other social security expenses, as well as the expenses of special additional deductions.
2.Find the applicable tax rate: Based on your taxable income, check the personal income tax rate table under the local tax law to determine the applicable tax rate.
3.Calculate the amount of tax: Calculate the amount of taxable income at the applicable tax rate to arrive at the amount of tax.
4.Consider deductions or deductions: In some countries, individuals may be able to enjoy some deductions or deductions, such as children's education, home loan interest, etc. Depending on local laws, the applicable deduction or credit amount may be determined.
5.Calculation of the final amount of tax paid: The amount of tax paid is subtracted from the amount of deduction or deduction to arrive at the final amount of individual income tax to be paid.
It should be noted that the calculation method of individual income tax will vary from country to country, so when calculating individual income tax, you should refer to the local tax law and the regulations of the tax department, or consult a tax professional.