Which entities are eligible for an extension to submit personal income tax (PIT) until December 31, 2024 in Vietnam?

Which entities are eligible for an extension to submit personal income tax (PIT) until December 31, 2024 in Vietnam?

According to Article 3 of Decree 64/2024/ND-CP, the entities eligible for an extension to submit personal income tax (PIT) until December 31, 2024, include:

(1) Enterprises, organizations, households, business households, individuals engaged in production activities in the following economic sectors:

- Agriculture, forestry, and fisheries;

- Food production, textile manufacturing, garment production, leather production, and related products, wood processing and production of wood, bamboo, rattan (excluding beds, cabinets, tables, chairs), straw, thatch, and weaving materials, paper production, rubber and plastic products, non-metallic mineral products, metal production, mechanical processing, metal treatment and coating, electronic and optical products, automobile and other engine production, bed, cabinet, table, chair production;

- Construction;

- Publishing activities, film activities, television program production, music recording, and publishing;

- Crude oil and natural gas extraction (excluding corporate income tax on crude oil, condensate, natural gas subject to agreements and contracts);

- Beverage production, various types of copying and recording, coke production, refined petroleum products, chemical and chemical product manufacturing, ready-made metal casting products (excluding machinery and equipment), motorcycle and motor vehicle production, repair, maintenance, installation of machinery and equipment;

- Drainage and wastewater treatment.

(2) Enterprises, organizations, households, business households, individuals engaged in business activities in the following economic sectors:

- Warehousing and transportation, accommodation and food services, education and training, health and social assistance, real estate business;

- Labor service and employment activities, travel agency activities, tourism business and related promotional and tour organizing services;

- Creative, artistic, and entertainment activities, library, archive, museum, and other cultural activities, sports and recreational activities, film projection;

- Radio and television activities, computer programming, computer-related consulting services, and information services;

- Support services for mining.

(3) Enterprises, organizations, households, business households, individuals engaged in the production of priority-supportive industrial products, and key mechanical products.

(4) Small and micro-enterprises as defined by the Law on Small and Medium-Sized Enterprise Support in 2017 and Decree 80/2021/ND-CP.

The economic sectors and fields of enterprises, organizations, households, business households, and individuals engaged in business activities mentioned in (1), (2), and (3) above are the sectors and fields in which they have production, business activities, and generate revenue in 2023 or 2024.

Which entities are eligible for an extension to submit personal income tax (PIT) until December 31, 2024 in Vietnam? - image from internet

What is the deadline for extending the submission of PIT in 2024 in Vietnam?

According to Article 4 of Decree 64/2024/ND-CP, the deadline for extending the submission of PIT in 2024 is as follows:

Extension of the deadline for tax payment and land rental payment

...

3. Regarding value-added tax, personal income tax for business households, individual businesses

The deadline for submitting value-added tax and personal income tax for the tax amount arising in 2024 for business households, individual businesses operating in the economic sectors and fields mentioned in paragraphs 1, 2, and 3 of this Decree. Business households and individual businesses shall submit the tax amount extended under this provision no later than December 30, 2024.

Therefore, the latest deadline for extending the submission of PIT in 2024 is December 30, 2024.

Which allowances and subsidies are not subject to PIT in Vietnam?

According to Clause 2 Article 3 of the Law on Personal Income Tax 2007 (amended by Article 1 of the amended Law on Personal Income Tax 2012), the income from salaries, wages subject to PIT is stipulated as follows: includes the following types of income, excluding the income exempted from tax as prescribed in Article 4 of this Law:

Income subject to PIT

The income subject to PIT includes the following types of income, excluding the income exempted from tax as prescribed in Article 4 of this Law:

...

2. Income from salaries, wages, including:

a) Salaries, wages, and other remuneration;

b) Allowances and subsidies, except for the allowances and subsidies provided for by the law on preferential treatment for individuals with meritorious services; defense and security allowances; allowances for hazardous and dangerous occupations or work at workplaces with hazardous or dangerous factors; attraction allowances, regional allowances as prescribed by law; emergency hardship allowances, occupational accident and occupational disease allowances, one-time allowances for childbirth or adoption of foster children, allowances for reduced work capacity, one-time retirement allowances, monthly pensions, and other allowances as prescribed by the law on social insurance; severance allowances, job loss allowances as prescribed by the Ministry of Labor; social welfare allowances and other non-remuneration allowances and subsidies as prescribed by the Government.

Therefore, the allowances and subsidies not subject to personal income tax (PIT) include:

- Allowances and subsidies provided for by the law on preferential treatment for individuals with meritorious services; defense and security allowances.

- Allowances for hazardous and dangerous occupations or work at workplaces with hazardous or dangerous factors.

- Attraction allowances, regional allowances as prescribed by law.

- Emergency hardship allowances, occupational accident and occupational disease allowances, one-time allowances for childbirth or adoption of foster children, allowances for reduced work capacity, one-time retirement allowances, monthly pensions, and other allowances as prescribed by the law on social insurance.

- Severance allowances, job loss allowances.

- Social welfare allowances and other non-remuneration allowances and subsidies as prescribed by the Government.