Personal income tax finalization service in Vietnam

In 2024, individuals with income from salaries and wages in 2023 must make personal income tax finalization according to the provisions of Vietnam Tax Law. According to Clause 2, Article 44 of the Law on Tax Administration 2019, regulations on the deadline for submitting tax declaration documents for taxes with annual tax periods. Thus, in 2024, the deadline for personal income tax finalization is the deadline to declare tax finalization dossiers for individuals with income from salaries and wages to directly finalize personal income tax with the tax authority of the year 2023 is no later than May 2, 2024. With more than 17 years of experience in the field of legal consulting in general and personal income tax law in particular, Viet An Tax Agent is always a reliable unit to be authorized to carry out personal income tax finalization procedures for 2024.

Individuals with taxable income from salaries and wages must make personal income tax finalization. Individuals can make their settlement or authorize an organization to make a settlement on their behalf. To support and accompany organizations and individuals, Viet An Tax Agent advises and guides personal income tax in Vietnam as follows.

Subjects who must finalize personal income tax in Vietnam

• Resident individuals with income from salaries and wages are responsible for declaring tax finalization if there is additional tax to be paid.
• Individuals with overpaid tax amounts can request a refund or offset in the next tax declaration period.
• Resident individuals earning incomes from salaries or wages are eligible for tax reduction due to natural disasters, fires, accidents, or serious diseases.
• Resident foreigners who terminate their working contracts in Vietnam must declare tax finalization declarations with tax authorities before leaving the country.

The time limit for submitting personal income tax finalization documents

• Individuals who have tax amounts to pay have an additional deadline to submit tax finalization documents no later than March 30 of the following year.
• Individuals who have overpaid tax and request a tax refund or tax offset in the next tax declaration period can submit their application at any time from the end of the tax year. Accordingly, for this subject, payment can be made after March 30, 2024, without penalty.

Conditions for an individual to be authorized to finalize personal income tax for an organization

• Individuals who only have income from salaries or wages sign a labor contract of 3 months or more at an income-paying organization and are working at that organization at the time of authorization for tax finalization, including in cases where individual works for less than 12 months in a year at an organization, and at the same time has current income elsewhere in the year with an average monthly income of no more than 10 million VND, the income-paying unit has fully deducted 10% tax without requiring tax finalization for this income.
• In case the income-paying organization carries out the enterprise reorganization (dividing, splitting, merging, acquisition, transforming) and the employees are transferred from the old organization to the new organization formed after the reorganizing the enterprise if in the year the employee does not have any additional income from salary or wages at another place, he/she may authorize the new organization to settle tax on behalf of the new organization, the new organization must collect the documents. PIT deduction issued by the old organization to the employee to aggregate income withheld tax amount, and PIT on behalf of the employee.
• In case of transferring employees between organizations in the same system such as a group, Corporation, Parent-Subsidiary Company, Head Office, or Branch, the same principle of tax finalization authorization as in the case of business restructuring.

Determined to submit tax finalization documents

• If an individual has income from salary or wage that directly declares tax during the year, the place to submit the tax finalization dossier is the tax agency where the individual submits the tax declaration dossier during the year.
• Individuals who are calculating family deductions for themselves at any income-paying organization must submit tax finalization documents to the tax agency directly managing that income-paying organization.
• In case an individual changes his/her workplace and the organization that pays the final income with family deductions for himself/herself, submit the tax finalization dossier to the tax agency managing the organization that pays the final income.

Individuals submit tax finalization documents at the Tax Department where the individual resides (place of permanent or temporary residence registration), including:

• Individuals who change their place of work and the organization that pays their final income do not count family deductions for themselves.
• Individuals have not calculated family deductions for themselves at any income-paying organization.
• Individuals who do not sign a labor contract, or sign a labor contract for less than 3 months, or sign a service provision contract with income at one place or many places have deducted 10%.
• Individuals in the year who have income from salaries or wages at one place or many places but at the time of settlement do not work at any income-paying organization.
• In case an individual resides in many places and is subject to tax finalization at the tax office where the individual resides, the individual shall choose a place of residence for tax finalization.

Prepare personal income tax finalization dossier

• Tax finalization declaration form No. 02/QTT-TNCN issued together with Circular No. 80/2021/TT-BTC.
• Appendix form No. 02-1/BK-QTT-TNCN issued together with Circular 80/2021/TT-BTC if there is registration of family circumstance-based deduction for dependents.
• Photocopies of documents proving the amount of tax deducted, temporarily paid in the year, or tax paid abroad (if any). The individual commits to be responsible for the accuracy of the information on that photocopy. In case the income-paying organization fails to issue tax withholding documents to individuals because the income-paying organization has ceased to operate, the tax authority shall base on the tax branch’s database to consider and process the final settlement dossier. Tax for individuals without requiring tax deduction documents.
• Photocopies of invoices and documents proving contributions to charity funds, humanitarian funds, and study promotion funds in the tax year (if any).
• In case an individual receives income from international organizations, embassies, or consulates and receives income from abroad, there must be documents proving the amount paid by the unit or organization paying the income abroad.
• Individuals submit personal income tax finalization declaration XML files via the system http://canhan.gdt.gov.vn/ then send hard documents to the place where tax finalization dossiers are submitted.

The client provided records when using Viet An Tax Agent’s PIT finalization service

• Photo of ID card/ID card to register personal tax code;
• Dependent information (if any);
• Personal income tax deduction voucher issued to the employee by the income-paying unit;
• Income confirmation letter or income confirmation documents

PIT finalization service for personal income tax of Viet An Tax Agent

• Advise Clients on tax laws in general and personal income tax laws in particular;
• Advise Clients on regulations, procedures, and documents on personal income tax finalization;
• Perform personal income tax finalization with Client authorization, including preparing, completing, and submitting finalization documents to competent state agencies;
• On behalf of Clients, amend and supplement documents, directly work with competent authorities when required;
• Perform other tax finalization-related services when Clients need them.

Benefits when using the finalization service of Viet An Tax Agent

Using the personal income tax finalization service of Viet An Tax Agent helps businesses and individuals with tax obligations enjoy many benefits. Below are some reasons why clients should use this service at Viet An Tax Agent:

• Save time and effort: Personal income tax finalization involves collecting information, calculating tax payable, and preparing financial reports and related legal procedures. This requires specialized knowledge and skills. Through the personal income tax finalization service in Viet An, clients have transferred this task to experienced experts, helping to save time and unnecessary costs.
• Ensuring compliance with the law: The tax system is complex and changes frequently. Using a tax settlement service helps ensure that you comply with current tax laws. Viet An’s tax experts will provide you with advice and support to ensure that you do not violate tax laws and avoid legal risks, as well as penalties for violations.
• Optimize financial returns: Tax finalization services also help you optimize financial returns. Viet An Tax Agent’s tax experts will help you learn about tax regulations, deductions, and tax management strategies to minimize tax payable and increase personal profits.
• Minimize errors: Working with Viet An’s tax finalization experts minimizes the risk of errors in tax finalization. Even a small mistake can lead to serious consequences, including fines and additional taxes. With the professional services of Viet An Tax Agent, we help clients ensure the accuracy and reliability of tax settlement.
• Profound tax consulting: Tax finalization experts of Viet An Tax Agent have in-depth knowledge of the tax system and related laws. Viet An can provide clients with advice and guidance on complex tax issues such as investment, personal financial planning, and tax management. Using this service helps businesses and individuals better understand their financial situation and make smarter decisions about taxes.
• For those reasons, why hesitate any longer without using the personal income tax finalization service of Viet An Tax Agent? We are committed to helping clients save time, ensure legal compliance, optimize financial costs, minimize errors, and receive profound tax advice. This helps clients focus on their main work and reduces pressure on the finalization and personal income tax declaration.
• Viet An tax agent commits to ensuring that data submitted to tax authorities is always accurate.
• Viet An tax agent is responsible for explaining directly to the tax authority when finalizing personal income tax according to reality.
• Viet An tax agent takes full responsibility and compensates for damages according to the signed service contract if errors occur in the client’s personal income tax finalization dossier.

Clients who need legal advice, and support in terms of procedures related to personal income tax finalization in particular and other tax areas, please contact Viet An Tax Agent to get timely advice and support!

Disclaimer: This article was last updated in April 2024. Laws may have changed since then. Please contact Viet An Law to confirm the information in this article is current and for any legal assistance.