Conditions for Personal Income Tax Refund

08:21, 11/07/2024

Finalization of personal income tax (PIT) is a method to check and determine whether an individual with taxable income is eligible for a tax refund or has to pay additional tax. According to the regulations, an individual is eligible for a tax refund if the amount of tax already paid is greater than the payable tax amount or if they have paid tax but their taxable income has not reached the threshold to require tax payment.

Conditions for Personal Income Tax Refund:

Circular 111/2013/TT-BTC; Circular 156/2013/TT-BTC and Circular 92/2015/TT-BTC stipulate the conditions for tax refund as follows:

- Only individuals with a tax code at the time of the tax refund request are eligible for a tax refund.- Individuals authorizing an income-paying entity (enterprise) to finalize on their behalf will have their tax refund processed through the income-paying enterprise.- Individuals who declare or finalize directly with the tax authority can choose to offset the excess tax payment against the future tax period, or proceed with tax refund formalities.

Personal Income Tax Refund Dossier:

Individuals directly finalizing tax with the tax authority:

It is not required to submit a tax refund dossier, but it is necessary to state the requested refund amount in the tax finalization declaration according to Form No. 02/QTT-TNCN (issued together with Circular 92/2015/TT-BTC) at the item:

- “[47] Tax amount refunded to taxpayer’s account” or- “[49] Total tax amount offset for subsequent periods”.

Income-paying enterprise finalizes on behalf of an authorized individual: The tax refund dossier includes:

- The request for reimbursement to the state budget according to Form No. 01/DNHT (issued together with Circular 156/2013/TT-BTC).- Copies of the tax payment receipts and vouchers, with a legal representative of the income-paying enterprise signing to assume responsibility for these copies.

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