When is an individual required to declare and settle Personal Income Tax (PIT)?

Based on Clause 3, Article 21 of Circular 92/2015/TT-BTC stipulates:

Residents with income from wages and salaries are responsible for declaring tax finalization if there is an additional tax payable or an overpaid tax requested for refund or offset in the next tax declaration period except for the following cases:

- Individuals whose tax payable is less than the temporarily paid tax and without a request for tax refund or offset in the subsequent period.

- Individuals earning income from wages and salaries under labor contracts of 03 (three) months or more at one unit and having additional casual income in other places averaging no more than VND 10 (ten) million per month in a year, which has been withheld at a rate of 10% by the paying unit, then without request, tax finalization is not required for this portion of income.

- Individuals whose employers purchase life insurance for them (except for voluntary retirement insurance) or other non-compulsory insurance with premium accumulation and where the employer or insurer has withheld personal income tax at a rate of 10% on the insurance premium corresponding to the portion the employer purchases or contributes for the employee as guided in Clause 2, Article 14 of Circular No. 92/2015/TT-BTC, are not required to finalize tax for this portion of income.

=> Thus, individuals are only required to declare personal income tax finalization if the tax payable is greater than the temporarily paid tax (additional tax payable).

The above is the content of the assistance!

Best regards!