Do parents need to pay taxes if they give their children 10 million yuan in cash when they are alive

Parents don't have to pay taxes if they transfer 10 million to themselves. If it is a gratuitous gift, it is subject to 20% individual income tax, which belongs to the category of personal accidental income; In the case of an inheritance, the tax amount is calculated based on the amount. Paying taxes, also known as paying taxes, is the act and process of paying taxes to the state tax authorities by natural or legal persons.

Incidental income refers to the income obtained by an individual that is non-recurring and belongs to various opportunistic income, including winning, winning, winning lottery and other accidental income (including bonuses, in-kind and valuable**).

Legal basis: Article 10 of the Individual Income Tax Law of the People's Republic of China

In any of the following circumstances, taxpayers shall file tax returns in accordance with the law:

1) To obtain comprehensive income, it is necessary to go through final settlement;

2) There is no withholding agent for obtaining taxable income; (3) Obtaining taxable income, but the withholding agent fails to withhold the tax;

4) Obtaining foreign income;

5) Cancellation of Chinese household registration due to emigrating;

6) Income from wages and salaries obtained by a non-resident individual from two or more places within the territory of China;

7) Other circumstances specified in ***. The withholding agent shall, in accordance with the provisions of the state, handle the full withholding declaration for all employees, and provide the taxpayer with information on their personal income and withheld tax.

This is not required, only if the salary meets the standard, you need to pay tax, because the money given to you by your children does not belong to the salary, so you do not need to pay tax. And the tax authorities won't collect it.

No, but the estate needs to be taxed.

Do parents need to pay taxes if they give their children 10 million yuan in cash when they are alive?

Hello, I'm glad to serve you This is not needed, only if the salary meets the standard, you need to pay taxes, because the money given to you by your children is not bad and belongs to the salary, so you don't need to pay taxes. And the tax authorities won't collect it. I hope I can help you

If the 1 million yuan given by parents to their children is a pure gift, that is, there is no form of return, then according to the provisions of the Individual Income Tax Law of the People's Republic of China, the donated property should be taxed.

According to the current IIT Law, the tax liability of donated property shall be borne by the donee.

The specific tax amount and calculation method are as follows:

1. Individual income tax threshold: If the monthly taxable income does not exceed 5,000 yuan, individual income tax is exempted;

2. Tax rate of donated property: The tax rate of donated property is 20%, and taxpayers shall calculate the tax amount according to the value of the donated property and pay the tax to the tax authorities within 15 days from the date of acquisition of the property; Bibo nucleus.

3. Tax calculation: the tax amount of the donated property = the value of the donated property * 20%.

The value of the donated property refers to the property appraisal or transaction ** when the donor donates the property to the donee. If the value of the donated property is unclear, an assessment or the opinion of the tax authorities is required.

To sum up, the 1 million given by parents to their children as a pure gift needs to pay individual income tax, and the tax amount is 20% of the value of the donated property. However, if the donated property is used for the donee's education, medical care, housing, etc., it may enjoy certain preferential tax policies, and the specific situation needs to be decided according to the local tax policy.

Legal basis]:

Article 2 of the Individual Income Tax Law of the People's Republic of China.

Individual income tax shall be paid on the following personal income:

1) Income from wages and salaries;

2) Income from remuneration for labor services;

3) Income from author's remuneration;

4) Income from royalties from concessions;

5) Business income;

6) Income from interest, dividends and bonuses;

7) Income from property lease;

8) Income from the transfer of property;

9) Incidental gains.

Resident individuals who obtain the income from items 1 to 4 of the preceding paragraph (hereinafter referred to as "comprehensive income") shall calculate individual income tax on a consolidated basis according to the tax year; For non-resident individuals who obtain the income in items 1 to 4 of the preceding paragraph, the individual income tax shall be calculated on a monthly or sub-itemized basis. Taxpayers who obtain the income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this Law.