Conditions for authorizing PIT finalization

PIT finalization authorization is a taxpayer's permission for an individual or another organization to perform PIT finalization obligations on behalf of a taxpayer. So what are the conditions for authorizing PIT finalization? Join Tasco Tax Consulting Services Co., Ltd. to find out details through the article below.

Conditions for authorizing PIT finalization

Under Point d1, Clause 6, Article 8 of Decree 126/2020/ND-CP, the cases authorized to finalize personal income tax include:
Individuals who have income from wages and wages under labor contracts for 03 months or more and are working there at the time of tax finalization, even if the employee does not work for 12 months in 1 year. After that, if the individual moves to a new place of work, the right to tax finalization will be transferred to the new organization according to regulations.

Individuals who have income from wages and wages under labor contracts for 03 months or more and are working there at the time of tax finalization, even if they work for less than 12 months and have current income elsewhere on average not exceeding 10 million/month and have been deducted 10% tax.

Time to authorize PIT finalization

Under Clause 2, Article 44 of the Law on Tax Administration 2019, Section 5 of Official Letter 883/TCT-DNNCN in 2022, Subsection 1, Section 4 of Official Letter 883/TCT-DNNCN in 2022, the time to authorize PIT finalization to be done is before the deadline for submitting tax finalization declaration.

In particular, the deadline for filing personal income tax finalization returns is at least the last day of the third month (31/03) from the end of the calendar year. Therefore, if you authorize PIT finalization, you need to make a power of attorney before 31/03.

Latest PIT finalization power of attorney form

Currently, the latest PIT finalization authorization form uses form No. 08/UQ-QTT-TNCN, in Appendix II issued together with Circular 80/2021/TT-BTC.

To write information on a power of attorney:

• Complete and accurate recording of required information
• Check 1 of 3 boxes corresponding to the case of the employee
• Check the information and sign the confirmation
•  

Procedure for authorizing PIT finalization

To authorize PIT finalization, employees take the following steps:

- Step 1: Check the information about taxable income and taxable income to ensure accurate PIT finalization.

- Step 2: The employee fills in all information and signs the confirmation form 08/UQ-QTT-TNCN

- Step 3: The employee sends a power of attorney to the organization or individual that pays income thanks to tax finalization and certifies that the personal income tax finalization has been completed with the authorized organization or individual.
Corporate accountants will actively guide employees in their units to declare and pay taxes by regulations.

Above is the article Conditions to authorize PIT finalization, hope the article will bring you useful information.

Personal income tax finalization is an individual's determination of full tax liability for one year, a tax period of the individual with the state budget. "PIT finalization service" of the TASCO Tax Agent will advise and support customers to prepare necessary tax finalization documents according to regulations. Tasco's PIT finalization service is the most prestigious, quality, efficient, and economical service currently in Ho Chi Minh City with more than 200 customers who have trusted and used the service.

Customers can refer to service details

>>Here: "PIT finalization service"

Or you can immediately call the hotline at 0975480868 or text zalo at 0705955325 for Tasco to consult for free!!

TASCO Tax Agency is proud to be an organization founded and led by CEOs with more than 20 years of experience in the field of Accounting - Tax - Finance in multinational companies with a team of highly qualified specialists, always updating knowledge regularly and working with the motto "DEDICATION - RESPONSIBILITY - PROFESSIONALISM" Ensure to provide entrepreneurs with the most reputable and professional business establishment services, tax accounting services, tax consulting. Besides, TASCO always puts the interests of entrepreneurs first. More than anyone, TASCO understands that customers when they first start their business have to invest a lot of costs. Therefore, TASCO always supports customers to minimize costs to operate businesses sustainably.

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