Personal income tax (PIT) refund service

Create at: 09/03/2022 10:39

1. WHAT IS A PERSONAL INCOME TAX REFUND?

✨ A personal income tax refund is the state budget's return to an individual the amount of personal income tax already paid.

2. WHO IS THE OBJECT OF THE REFUNDED PIT?

Pursuant to Circular 92/2015/TT-BTC, individuals are entitled to a tax refund in the following cases:

✅ The paid personal income tax amount is larger than the payable tax amount in the tax period.

✅ The individual has paid personal income tax but has a taxable income that is not enough to pay tax.

✅ Other cases as decided by competent state agencies.

✅ Income from seasonal contracts or commissions such as insurance agents, multi-level sales: in this case, the possibility of you getting a tax refund is also very high because the income calculated for tax deduction has not taken into account any family allowances.

✅ Income reduction during the year: If your income level falls to such an extent that your average annual income falls at a tax rate lower than the tax rate of the months of the year, then you are completely eligible for a tax refund. .

✅ Personal income tax refund is only applicable to individuals who have registered for tax and have a tax identification number.

✅ By law, the deadline to receive the tax refund is only 15 days from the date of receiving the complete application.

3. PIT REFUND DOCUMENTS

📌 For income-paying enterprises that make finalization on behalf of individuals authorized to make tax finalization, a tax refund dossier includes:

▪️ A request for refund of state budget revenues, made according to Form No. 01/ĐNHT (issued together with Circular 156).

▪️ Photocopies of vouchers, receipts for payment of PIT, and the legal representative of the enterprise paying income, sign the commitment to take responsibility in that photo.

📌 For individuals earning income from business; Individuals earning incomes from salaries and wages shall directly finalize taxes with tax authorities.

▪️ Then, you don't have to submit a tax refund file, you just need to write the tax amount requested for refund in criteria [47]- “Tax amount refunded to taxpayers account” or criteria [49] – “Total tax offset for next period" in the tax finalization declaration form No. 02/QTT-TNCN when finalizing tax.

📌 For individuals transferring securities who need tax finalization.

▪️ Then you don't have to submit a tax refund file, you just need to write the tax amount to be refunded in criteria [31] – “The tax amount refunded to the taxpayer’s account” or criteria No. [33] – “The tax offset in the next period" in the tax finalization declaration form No. 13/KK-TNCN upon tax finalization.

4. CONDITIONS FOR PIT REFUND

♦️ Tax refund for income-paying organizations and individuals that make tax finalization on behalf of individuals authorized for tax finalization.

♦️ In case an organization or individual pays income after offsetting the overpaid or underpaid tax amount of individuals but has an overpaid tax amount if requesting tax authorities to refund, the income-paying organizations and individuals shall submit tax refund dossiers to tax agencies directly managing them.

♦️ Personal income tax refund is only applicable to individuals who already have a tax identification number at the time of requesting a tax refund.

♦️ If the individual who has authorized the tax finalization for the income-paying enterprise to make the final finalization: The individual's tax refund will be made through the income paying enterprise.

♦️ Income-paying enterprises shall offset the overpaid and underpaid tax amounts of individuals. After clearing, if there is any overpaid tax, it will be offset in the following period or refunded if there is a request for a refund.

♦️ Individuals who directly declare with the tax agencies can choose to refund or offset tax in the next period at the same tax agencies.

5. WHY SHOULD YOU USE THE PIT REFUND SERVICE?

️⛳ Tax policy regulations are complex and often change. If you are not a tax expert, you will face a lot of difficulties in understanding and updating the provisions of tax laws. It can take a lot of time and effort to research, travel, and supplement the necessary documents.

️⛳ In order to properly comply with regulations when carrying out tax refund procedures, you must clearly understand the provisions of each tax law, understand the provisions of the tax administration law, and the law on personal income tax. Then you have to prepare documents, prepare information according to regulations, draft forms according to regulations, prepare vouchers and records according to regulations.

️⛳ Do you always need a tax consultant to check and control your tax return, is your tax refund file complying with regulations? Is such profile complete or not? Is the refunded tax amount correct?.

6. TASCO SOLUTIONS FOR CUSTOMERS

▪️ Consulting on issues related to a tax refund.

▪️ Guide customers to prepare documents and information related to a tax refund.

▪️ Collect information and documents related to a tax refund.

▪️ Check tax refund information.

▪️ Prepare documents and forms related to a tax refund.

▪️ Prepare and print all kinds of documents related to the tax refund applications.

▪️ Follow up the tax refund process and solve arising problems.

7. TASCO COMMITMENT

✔ Lump-sum price and not incurred.

✔ Saving customers costs, time, and effort.

✔ Provide a very simple profile, free consultation.