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Do I have to pay taxes on the royalties I get from writing novels? How to pay taxes? How many times?

2024-09-07 03:35
I'm 18 years old now, and I'm still in high school. I like to write novels. I wrote a fantasy novel, and then I went to the first publishing company. The publishing company gave me 50,000 yuan, but I heard that the royalties have to be paid taxes. My parents have to pay taxes every month, but I'm still studying! I don't have a monthly salary. It's just a one-time payment. If I really have to pay taxes, how do I pay taxes? Do I have to pay every month? I'm just a high school student, I don't have that much money! How do I pay taxes? How many times had he handed it in?
2024-09-07 06:55

The royalties earned from writing novels had to be paid taxes, but the specific tax methods and standards might vary from country to country. Generally speaking, the income from the author's remuneration was considered as remuneration for labor services. It was subject to personal income tax according to the local tax law. Specifically, if the copyright of the work had been sold or adapted into other forms, or if the author was a public figure, the royalties might be levied at a higher tax rate. In addition, the tax rate for royalties in different regions was also different and needed to be calculated according to the specific situation. When paying taxes, it was generally necessary to provide information such as the source of income and the recipient of payment for the tax authorities to review and collect. If you are not sure how to pay the tax, you can consult the local tax authorities or check the relevant tax laws. It should be noted that different regions may have different tax relief policies. For example, for the income from the author's remuneration, a temporary preferential policy of personal income tax can be implemented. Therefore, it is recommended to understand the local tax laws and consult a professional before paying taxes.

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