Latest guidelines of Vietnam General Department of Taxation on PIT finalization

In order to facilitate the PIT finalization in accordance with regulations of the Law on personal income tax in force, the General Department of Taxation of Vietnam provides some guidelines as follows:

1. Entities making PIT finalization

According to Official Dispatch No. 636/TCT-DNNCN of the General Department of Taxation of Vietnam, there are 03 entities making PIT finalization, including: individuals directly finalizing PIT; income payers and authorized persons.

>>> View details guidelines of the General Department of Taxation of Vietnam here.

2. Entities that are not required to finalize PIT

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3. PIT finalization procedures

*** PIT finalization dossier

PIT finalization dossier will be prepared in accordance with the Circular No. 92/2015/TT-BTC dated June 15, 2015 of the Ministry of Finance until it is superseded by a new legislative document.

*** PIT finalization dossier supplementation

- If the supplementation does not lead to a change in tax obligations, only a written explanation and relevant documents are required while a supplementary tax return is not required.

- If the annual tax finalization dossier has not been submitted, the taxpayer shall provide supplementary tax documents of the erroneous month or quarter and include the rectification in the annual tax finalization dossier.

- If the annual tax finalization dossier has been submitted:

+ The individual who directly submits the PIT finalization dossier shall only provide the supplementation to the annual tax finalization dossier.

+ The income payer shall provide the supplementation to its terminal PIT return and the erroneous monthly or quarterly tax return.

*** Submission of PIT finalization dossiers

PIT finalization dossiers shall be submitted in accordance with Clause 8 Article 11 of the Government’s Decree No. 126/2020/ND-CP dated October 19, 2020. In case an individual declares and submits PIT finalization dossier through the website: https://canhan.gdt.gov.vn, the tax authority shall be determined by the system based on the information about tax obligations incurred in the year provided by that individual.

>>> View details here.

4. Deadlines for submission of PIT finalization dossiers

- Income payers shall submit PIT finalization dossiers by the last day of the 03rd month from the end of the calendar year or fiscal year.

- Individuals who themselves finalize PIT shall submit PIT finalization dossiers by the last day of the 04th month from the end of the calendar year. If the deadline for submission of PIT finalization dossier falls on days off or holidays as prescribed, the deadline shall be the following business day. If an individual has PIT refund but fails to submit the PIT finalization dossier by the prescribed deadline, no administrative penalty for such late submission will be imposed.

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