Summary of Key Points
The 2025 annual individual income tax settlement deadline is tonight (June 30th, 24:00)! Those who need to pay additional taxes will have to pay a late fee of 0.05% per day on the overdue amount starting from July 1st (an annualized rate of 18.25%) if they miss the deadline; in some cases, they may even face fines. Although the proportion of people who need to pay additional taxes is low (mainly including those with multiple incomes or those who have changed jobs), the risk of tax evasion is very high due to strict data-driven supervision. The majority of taxpayers are entitled to tax refunds, and those who haven’t received their refunds can still apply for corrections within three years. However, don’t believe in fake “tax refund tips” that involve fraudulent declarations.
Detailed Explanation
1. The Cost of Missing the Deadline for Paying Additional Taxes: Higher Than Loan Interest
If you need to pay additional taxes and fail to do so by tonight, you will have to pay a late fee starting from tomorrow (July 1st), calculated at 0.05% of the amount owed per day. For example, if you owe 10,000 yuan, the daily late fee would be 5 yuan, resulting in a total of 1,825 yuan in fees over a year, which represents an annualized interest rate of 18.25%—higher than the typical annualized interest rate for credit card payments (around 15%). More importantly, the tax authorities allow the late fee to exceed the principal amount; for instance, if you owe 10,000 yuan and delay payment for two years, the late fee could exceed 20,000 yuan, making it increasingly detrimental.
2. Who Needs to Pay Additional Taxes? Don’t Miss These Groups
Although the proportion of people who need to pay additional taxes is small (in previous years, it was in single digits), the following groups should pay special attention:
- Those with Multiple Incomes: For example, if you work for two companies simultaneously, and although your income from each company does not exceed 5,000 yuan, your total annual income exceeds 60,000 yuan, you may need to pay additional taxes because the pre-tax amounts were not combined during the initial tax filing.
- Those Who Changed Jobs Mid-Year: The new employer will recalculate the tax based on the new tax threshold, potentially resulting in lower pre-tax payments for the year.
- Those With Diverse Incomes: If your income includes both salary and freelance earnings (such as from part-time jobs or author fees), you may need to pay additional taxes if the tax rate for freelance earnings is lower than the overall income tax rate.
- Those with Overseas Income: You must also report any overseas income that was not declared for domestic tax purposes.
*Note: If the amount of additional taxes owed is less than 400 yuan, you are exempt from payment.*
3. Don’t Try to Evade Taxes: Supervision Is Now Extremely Strict
Some people think, “The tax authorities can’t detect my income.” But that’s not the case! Modern tax systems use big data and cross-departmental collaboration to track your financial activities. Your bank transactions, social security records, information from platforms where you earn extra money (such as delivery or streaming jobs), and even rental information from landlords are all linked to the tax system. If you fail to declare your income, the tax authorities will notify you via text message, phone call, or app. Those who refuse to cooperate will not only have to pay the late fee but may also face fines (up to five times the amount owed) and could even have their credit damaged.
4. File for Tax Refunds Timely and Avoid Fraudulent Declarations
The majority of taxpayers are entitled to tax refunds (69% of those who file claims). If you haven’t applied yet, do so by tonight to receive your refund as soon as possible. Even if you miss the deadline, you can still apply for a refund within three years through a correction process. However, don’t believe in online “tax refund tips” that involve fraudulent claims, such as exaggerating deductions for supporting elderly parents or children’s education expenses or forging medical invoices for serious illnesses—these are considered tax evasion. If caught, you will not only have to return the refunded amount but also pay a fine (up to five times the amount owed), and in severe cases, you could face imprisonment.
In summary, tonight is a critical moment: those who need to pay additional taxes should do so immediately, and those who are eligible for refunds should file their claims promptly to avoid late fees and tax evasion penalties.