When should the PIT declaration for December 2024 be submitted in Vietnam?

Vietnam: When should the PIT declaration for December 2024 be submitted?

According to Clause 1, Article 44 of the Law on Tax Administration 2019, specific provisions on the deadline for tax declaration submission are as follows:

Deadline for submission of tax declaration dossiers

1. The deadline for submitting tax declaration dossiers for taxes declared monthly or quarterly is stipulated as follows:

a) No later than the 20th day of the following month for monthly declarations and payments;

b) No later than the last day of the first month of the following quarter for quarterly declarations and payments.

2. The deadline for submitting tax declaration dossiers for taxes calculated on an annual basis is stipulated as follows:

a) No later than the last day of the third month from the end of the calendar year or fiscal year for annual tax finalization dossiers; no later than the last day of the first month of the calendar year or fiscal year for annual tax declaration dossiers;

b) No later than the last day of the fourth month from the end of the calendar year for personal income tax finalization dossiers of individuals directly finalizing tax;

c) No later than December 15 of the previous year for the tax declaration dossiers of household businesses, individuals paying tax according to the presumptive method; for new businesses, no later than 10 days from the commencement of business.

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Thus, according to the above regulation, the exact deadline for submitting the PIT declaration for December 2024 is January 20, 2025.

When should the PIT declaration for December 2024 be submitted in Vietnam? (Image from the Internet)

Where is the place to submit the PIT declaration in Vietnam?

According to Article 45 of the Law on Tax Administration 2019, the specific provisions about the place to submit tax declaration dossiers are as follows:

- Taxpayers submit tax declaration dossiers at the directly managing tax authority.

- In cases of submitting tax declaration dossiers under a single-window system, the submission location is in accordance with that system's regulation.

- For export and import goods, the submission location follows the regulations of the Customs Law.

- The Government of Vietnam regulates the submission location for the following cases:

+ Taxpayers with multiple production and business activities;

+ Taxpayers conducting production and business in various locations; taxpayers with tax obligations arising from each specific type of tax declaration and payment at the occurrence time;

+ Taxpayers with tax obligations related to land revenues; granting exploitation rights for water resources, mineral resources;

+ Taxpayers with tax obligations for personal income tax finalizations;

+ Taxpayers filing taxes through electronic transactions and other necessary cases.

What income is exempt from PIT in Vietnam?

According to Article 4 of the Personal Income Tax Law 2007 supplemented by Clause 3, Article 2 of the Law amending tax laws 2014 and Clause 10 amended by Clause 2, Article 1 of the Amended Personal Income Tax Law 2012, the specific exempted incomes include:

- Income from real estate transfers between spouses; biological parents and children; adoptive parents and adopted children; parents-in-law and daughters-in-law; fathers-in-law and sons-in-law; grandparents and grandchildren; siblings.

- Income from transferring houses, homestead land use rights, and assets attached to homestead land of individuals who only have one house and homestead land.

- Income from land use rights of individuals assigned by the State.

- Income from inheritance, gifts as real estate between spouses; biological parents and children; adoptive parents and adopted children; parents-in-law and daughters-in-law; fathers-in-law and sons-in-law; grandparents and grandchildren; siblings.

Household and individual income directly involved in agricultural, forestry production, salt-making, aquaculture, and fishing without further processing into other products or just usual preliminary processing.

- Income from the conversion of agricultural land allocated by the State for production to households and individuals.

- Income from interest on deposits at credit institutions, interest from life insurance contracts.

- Income from remittances.

- Night work salary, overtime salary paid higher than daytime working and legal working hours as regulated by law.

- Retirement pensions paid by the Social Insurance Fund; pensions paid by voluntary retirement funds monthly.

- Income from scholarships, including:

+ Scholarships from the state budget;

+ Scholarships from domestic and foreign organizations as part of the organization's education promotion support program.

- Income from indemnity of life insurance contracts, non-life insurance, compensation for occupational accidents, government compensation, and other compensation as prescribed by law.

- Income received from charitable funds allowed to be established or recognized by competent state agencies, operating for non-profit humanitarian and charitable purposes.

- Income received from foreign aid for charitable, humanitarian purposes in the form of government and non-government approved by competent state agencies.

- Income from salaries and wages of Vietnamese seafarers working for foreign shipping companies or Vietnamese shipping companies engaging in international transport.

- Income of individuals who are shipowners, have the right to use ships, and work on ships from providing goods and services directly serving offshore fishing activities.