Salary is often the only form of income for many Russians. And everyone who has ever received a salary knows that he gives part of his income to the state budget. The tax is “taken away” in the amount of 13 percent of the salary. But even those who do not receive wages, but have a different income, must pay this tax. We will tell you who, when, and why should pay income tax, whether all income is subject to it and how personal income tax is calculated from wages.
Who pays income tax?
Personal income tax from wages is a tax on personal income, which is paid by all citizens who are officially employed and receive “white” wages.
As a rule, income tax on wages is calculated and withheld by an accountant in the company where you work.
Income tax rates are prescribed in the Tax Code (TC RF). The basic rate that is applied as a “payroll tax” is 13%.
What income must be taxed?
Any of your income is subject to personal income tax, and not just wages. There are some exceptions when you do not need to pay personal income tax on income. These cases are specified in the Tax Code.
How is income tax calculated on wages?
We have given the simplest example of calculating income tax from wages above. 13% personal income tax (income) is deducted from the salary.
But the state makes it possible to reduce the amount of tax that is deducted from wages and goes to the budget. This is called a tax deduction. The deduction reduces the taxable base. With the help of a deduction, you can either receive a tax refund in one amount or reduce the tax payable. But not everyone has the right to a tax deduction and not always.
Many people think that they can only issue one type of return, although this is not the case. You are entitled to several types of deduction because the amount of income tax paid per year is important. Our experts will calculate the maximum amount to be returned in two, fill out the declaration and send it to the Federal Tax Service.
Standard
The standard deduction for children is provided in the amount of:
- 1400 – for the first child and the second child
- 3000 – for the third and each subsequent child
Additionally, you can get:
- 6000 – to guardians and trustees for a disabled child under 18 years of age or a disabled person of group I or II up to 24 years of age, if he studies full-time.
- 12,000 – to parents and adoptive parents for a disabled child under 18 years of age or a disabled person of group I or II up to 24 years of age, if he studies full-time.
Here is an example of calculating income tax on wages, taking into account the tax deduction.
Social
The social tax deduction is limited to 120,000 rubles, that is, you can return 13% of this amount – 15,600 rubles. The only exception is the expensive treatment and education of children. If you receive a deduction through the employer (reducing the taxable base), then every month the accountant will not withhold income tax from your salary at all. But until that month, until you “choose” the refund amount.
Income Tax: When Should You Pay?
Payroll income tax is calculated and paid by your employer every month on your wages. You do not even need to think about the terms of payment and keep it in your head. Everything that you received in your hands or on a card has already been calculated minus personal income tax (income).
And in the case when you do not work, but receive taxable income, you must report and pay income tax yourself.
