Form 05/KK-TNCN: Personal Income Tax Declaration Applicable to Organizations and Individuals Paying Income from Wages and Salaries
Form 05/KK-TNCN personal income tax return form applicable to organizations, individuals paying incomes from salaries, wages?
Based on Form 05/KK-TNCN issued together with Circular 80/2021/TT-BTC stipulating the personal income tax return form applicable to organizations and individuals paying incomes from salaries, wages.
Download Form 05/KK-TNCN personal income tax return form applicable to organizations and individuals paying incomes from salaries, wages
Note:
- This tax return form is only applicable to organizations and individuals who generate payments of income from salaries and wages for individuals during the month/quarter, regardless of whether tax deduction arises or not.
- The monthly tax declaration period applies to organizations and individuals paying income with total revenue from the sale of goods and provision of services in the previous year exceeding VND 50 billion or in cases where organizations and individuals paying income choose to declare taxes monthly.
- The quarterly tax declaration period applies to organizations and individuals paying income with total revenue from the sale of goods and provision of services in the previous year not exceeding VND 50 billion, including organizations and individuals paying income that do not generate revenue from sales of goods and provision of services.
Form 05/KK-TNCN personal income tax return form applicable to organizations, individuals paying incomes from salaries, wages? (Image from the Internet)
What income from salaries and wages is subject to personal income tax?
According to the provisions of Clause 2, Article 3 of the Personal Income Tax Law 2007 as amended by Clause 1, Article 1 of the Law Amending the Tax Laws 2014, income from salaries and wages subject to personal income tax includes:
(1) Salaries, wages, and other amounts of a salary or wage nature.
(2) Allowances and subsidies, except for the following:
- Allowances and subsidies as per the law on preferential treatment for people with meritorious services;
- Defense and security allowances;
- Toxic hazard allowances for industries, professions or jobs at workplaces with hazardous and dangerous conditions;
- Attraction, regional allowances as per the law;
- Extraordinary difficulty subsidies, labor accident subsidies, industrial disease subsidies, one-time subsidies for childbirth or adoption, subsidies due to reduced labor capacity, one-time retirement subsidies, monthly pensions, and other benefits as per the social insurance law;
- Severance and job loss allowances as per the Labor Code 2019;
- Social protection benefits and other allowances and subsidies not of a salary or wage nature as prescribed by the Government of Vietnam.
What income is exempt from personal income tax?
Based on Article 4 of the Personal Income Tax Law 2007 supplemented by Clause 3, Article 2 of the Law Amending the Tax Laws 2014, income exempt from personal income tax includes:
- Income from real estate transfer between the following subjects:
+ Husband and wife;
+ Biological parents and their children; adoptive parents and adopted children;
+ Parents-in-law and their daughter-in-law; parents-in-law and their son-in-law;
+ Grandparents and their grandchildren;
+ Siblings.
- Income from the transfer of residential houses, rights to use homestead land, and assets attached to homestead land of individuals in cases where individuals have only one residential house and homestead land.
- Income from the value of land use rights allocated by the State.
- Income from inheritance or gifts which are real estate between the following subjects:
+ Husband and wife;
+ Biological parents and their children; adoptive parents and adopted children;
+ Parents-in-law and their daughter-in-law; parents-in-law and their son-in-law;
+ Grandparents and their grandchildren;
+ Siblings.
- Income of households and individuals directly engaged in agricultural, forestry, salt production, aquaculture, and fishing not yet processed into other products or only pre-processed as prescribed.
- Income from the conversion of agricultural land by households and individuals allocated by the State for production.
- Income from interests on deposits at credit institutions, interests from life insurance contracts.
- Income from remittances.
- The portion of overtime, night time salary higher than daytime salary or regulated working hours salary.
- Pensions paid by Social Insurance.
- Income from scholarships;
- Income from compensation for life and non-life insurance contracts, compensation for labor accidents, State compensation and other compensations as prescribed by law.
- Income received from charitable funds permitted to be established or recognized by competent state agencies, operating not for profit, for charity, and humanitarian purposes.
- Income received from foreign donations for charity or humanitarian purposes formally approved by competent state agencies.
- Income from salaries and wages of Vietnamese sailors working for foreign shipping companies or Vietnamese shipping companies engaged in international transport.
- Income of individuals being ship owners, individuals entitled to use ships and individuals working on ships from providing goods and services directly serving offshore fishing activities.
See more newly updated content:>>>
When is the deadline for submitting the VAT return for June 2024?
