Responsibilities of resident taxpayers in Vietnam

08:10, 10/10/2013

The Law on amending and supplementing a number of articles of the Law on personal income tax 2007 of Vietnam was issued on November 22, 2012. One of the notable amendments of this document is the regulation on responsibilities of income-paying organizations and individuals and responsibilities of resident taxpayers.

Specifically, according to Clause 6 Article 1 of the Law on Personal Income Tax amended in 2012 amending Article 24 of the Law on Personal Income Tax 2007 of Vietnam, responsibilities of income-paying organizations and individuals and responsibilities of resident taxpayers are specified as follows:

- Responsibility to make tax declaration, withholding, payment and finalization is specified as follows:

+ Income-paying organizations and individuals shall make tax declaration, withhold and remit tax into the state budget, and make tax finalization for all kinds of taxable income they pay to taxpayers;

+ Individuals who have taxable incomes shall make tax declaration, pay tax into the state budget and make tax finalization as prescribed by law.

- Income-paying organizations and individuals shall supply information on incomes and dependents of taxpayers under their management as prescribed by law.

The Government shall specify tax withholding rates suitable to each kind of income specified at Point a Clause 1 Article 24 of Law on Personal Income Tax 2007 and the tax finalization specified in Clause 1 Article 24 of Law on Personal Income Tax 2007 of Vietnam.

View more amendments at the Law on Personal Income Tax amended in 2012 effective from July 01, 2013 on amending and supplementing a number of articles of the Law on Personal Income Tax 2007 of Vietnam.

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