Law on Tax Administration 2019 officially effective from 01/07/2020 which has changes in the deadline for submitting personal income tax finalization dossiers compared to the previous regulations.
Article table of contents
Vietnam: To extend deadlines for finalization of PIT arising in 2020 (Illustration)
Based on the provisions of Article 44 of Vietnam's Law on Tax Administration 2019, the deadlines for submission of tax declaration dossiers, for finalization of PIT incurred in 2020 are as follow:
* In case of individuals directly finalizing tax:
For annual personal income tax statements prepared by income earners: the last day of the 4th month from the end of the calendar year;
April 2021 has 30 days and the 30th day falls on a Friday, so no later than Friday, April 30, 2021, individuals who make their own tax finalization must submit finalization documents to the tax administration agency.
Note: Administrative penalties shall not be imposed on the individual who prepares the personal income tax statement himself/herself and has refundable tax (according to Clause 2, Article 141 of Vietnam's Law on Tax Administration 2019)
Previously, according to the provisions of Point dd, Clause 3, Article 10 of Vietnam's Circular 156/2013/TT-BTC, the deadline for submitting annual tax finalization dossiers was the 90th (ninety) day from the end of the calendar year or fiscal year.
Thus, the deadline for finalization of personal income tax arising in 2020 in case individuals directly make tax finalization will be delayed by 1 month compared to before.
* In case organizations, enterprises or taxpayers:
No later than the last day of the 3rd month from the end of the calendar year or the fiscal year (if the enterprise has a different fiscal year than the calendar year) for the annual tax finalization dossier. That is, by March 31, 2021, organizations and businesses must submit PIT finalization documents.
Thuy Tram
