The China tax calculator has got developed to estimate the income tax along with other salary deductions. It is free to use a calculator available online. It is to calculate the taxes of the people of China in the year 2020. All you need to do is provide your total salary and other income and expenditure details, and you are good to go. You can also calculate social insurance and individual income tax (IIT) through this online calculator.
Know how it works?
1. Default working days
The total number of working days saved in the calculator is 253 as default in the China tax calculator. You are free to change the number of working days in it. Choose the number of working days for yourself and get your income tax calculated within seconds.
The time duration of the China income tax and social insurance gets set every month. You can change the default setting in the advance options of the calculator. Whether you want to calculate the returns every month or yearly, you can easily change anything you want in the settings.
3. The hourly option
If you calculate the Income-tax as per your working hours, it is set as 35 hours a week. Here, you are free to change the number of working hours per your actual working hours in the advanced sections.
4. Holiday pay
Another option you can easily change in the China tax calculator as per your requirement is the holiday pay. Here, 52 equal payments get paid as default based on the weekly income tax and salary deductions. Any holiday pay gets paid as pro-rata. You can change it anytime you want as per requirements.
5. Different evaluations
The China tax calculator is especially for China’s workers to calculate their earning and tax detail with just a click. You can also check the tax details of the past years. Through this medium, you can easily calculate and compare the financial income and savings before joining a new job in the country and outside it. You can calculate monthly, yearly, and other short-term durations to know how much you have to pay for the taxes. It works best when you are going to join a job on a contract.
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