Taxation is a complex area that requires keeping up to date with the latest legislation. Hong Bang Law has many employees who are experts with long experience in the tax field, providing customers with quality and reliable services.

Therefore we would like to send you some necessary information about the finalization of personal income tax.

According to current regulations, individuals with taxable incomes from salaries and wages must make personal income tax finalization. Individuals can make the final settlement by themselves or authorize an organization to make the settlement on their behalf.

Subject to finalize personal income tax

Enterprises must make PIT finalization declarations in the following cases:

Enterprises that pay taxable income from salaries and wages, regardless of whether tax withholding or not, are responsible for tax finalization and tax settlement on behalf of authorized individuals.

Employees must finalize PIT in the following cases:

• Underpayment of personal income tax. (required to make a tax finalization declaration). Residents earning incomes from salaries and wages are responsible for making tax finalization declarations if there is additional tax to be paid. Except for the case that the additional tax payable after finalization of each is less than 50,000 VND.
• Individuals who overpay tax want to refund or offset in the next tax return period. (not required to finalize tax)
• Resident individuals earning incomes from salaries or wages are eligible for tax reduction due to natural disasters, fires, accidents or fatal diseases.
• Foreigners who terminate their working contracts in Vietnam must make tax finalization declarations with tax authorities before leaving the country.

Where to apply

• According to Article 16 of Circular 156/2013/TT-BTC, the place to submit tax finalization declaration is regulated as follows:
• Income-paying organizations and individuals are production and business establishments: they shall submit tax declaration dossiers at the tax offices directly managing the organizations and individuals.
• The income paying organization is the central agency; agencies under or under ministries, branches and provincial People’s Committees; Provincial-level agencies: then submit tax declaration dossiers at the Tax Department where the organization’s head office is located.
• Income-paying organizations are agencies under or under the People’s Committees of districts; District-level agencies: then submit tax declaration dossiers at the Tax Department where the organization’s head office is located.
• Income-paying organizations are diplomatic missions, international organizations, representative offices of foreign organizations: they shall submit tax declaration dossiers at the Tax Department where the organization’s head office is located.
• Individuals earning incomes from salaries or wages directly declare tax in the year: the place to submit the tax finalization dossier is the tax office where the individual submits the tax declaration dossier in the year.
• Individuals who are calculating deductions for their family circumstances at any income-paying organization: shall submit a tax finalization dossier at the tax agency directly managing such income-paying organization.
• In case the individual changes the workplace and at the organization paying the final income with deduction for his or her family circumstances: he/she shall submit a tax finalization dossier at the tax authority managing the organization paying the final income.

Personal income tax finalization application

• Tax finalization declaration form No. 02/QTT-TNCN issued together with Circular No. 92/2015/TT-BTC.
• Appendix form No. 02-1/BK-QTT-TNCN issued together with Circular No. 92/2015/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, tax paid abroad (if any). The individual undertakes to be responsible for the accuracy of the information on that snapshot. 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 required tax withholding documents.
• Photocopies of invoices and vouchers evidencing contributions to charity funds, humanitarian funds, study promotion funds in the tax year (if any).
• In case individuals receive incomes from international organizations, embassies, consulates and receive income from abroad, they must have documents proving the amount of money paid by the income paying unit or organization in the country. outside.

PIT finalization service of Hong Bang Law

• Advising clients on tax laws in general and personal income tax laws in particular;
• Advising clients on regulations and order, procedures and records on personal income tax finalization;
• Making personal income tax finalization when authorized by customers, including: preparing, completing and submitting finalization dossiers to competent state agencies;
• On behalf of clients to amend and supplement dossiers, directly work with competent authorities upon request;
• Perform other tax-related services when required by customers.

In addition to the above services, Hong Bang Law also provides the following services:

• Consulting services and initial tax declaration;
• Monthly tax declaration service;
• Quarterly tax declaration service;
• Tax declaration service according to the time of arising;
• Services of making and declaring year-end financial statements;
• Contractor tax declaration service;
• Year-by-year tax declaration services: Reasonable cost and integrated package of all tax declaration activities of enterprises, completing books and documents, closing and storing business books;
• Tax declaration services at the request of businesses.

If you need more detailed advice and answers as well as how to access this service, please contact directly our Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the toll free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com

Wishing you and your family good health, peace and success!

Best regards!