In 2019, how much will a company be fined for delayed personal income tax settlement?

18:56, 10/07/2024

The deadline for personal income tax finalization is no later than April 1, 2019 (as March 31 falls on a Sunday). If the taxpayer has not completed the tax finalization declaration by this deadline, they will be penalized according to the provisions of the law.

Word file: Detailed instructions for preparing the PIT finalization declaration

Depending on the number of days delayed compared to the stipulated time, the penalty levels vary. Specific penalties are based on Article 9 of Circular 166/2013/TT-BTC, which regulates the penalties for administrative violations regarding the submission of overdue PIT finalization documents:

- From 01 day to 05 days with mitigating circumstances: Warning;

- From 01 day to 10 days: Fine from 400,000 VND to 1,000,000 VND;

- From over 10 days to 20 days: Fine from 800,000 VND to 2,000,000 VND;

- From over 20 days to 30 days: Fine from 1,200,000 VND to 3,000,000 VND;

- From over 30 days to 40 days: Fine from 1,600,000 VND to 4,000,000 VND;

- From over 40 days to 90 days or over 90 days with no tax payable amount: Fine from 2,000,000 VND to 5,000,000 VND.

The above fines are applied to organizations. According to the principle, the fine for individuals is ½ of the fine for organizations. In the case of taxpayers being households, the fine is applied as for individuals.

No need to finalize taxes by March 31

For those who overpaid (the amount temporarily withheld exceeds the tax payable), if there is no need for a tax refund or offset for the next tax declaration period, there is no need to finalize taxes. Conversely, if needed, it is not necessary to finalize by March 31 annually. Individuals can finalize at any time, and when finalized, they will receive the refund without being fined for late declaration. Therefore, individuals who overpaid should avoid finalizing during peak periods to prevent congestion and save waiting time.

Mr. Nguyen Duy Minh, Deputy Director of the PIT Management Department (General Department of Taxation)

Duy Thinh

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