The latest deadlines for tax declaration and PIT finalization

1. Deadline of PIT finalization in 2022

✨ Tax declaration according to each time of arising: No later than the 10th day from the date of arising tax liability

Subjects: Individuals who directly declare tax or organizations or individuals that declare or pay tax on behalf of income from real estate transfer; income from capital transfer; income from capital investment; income from copyrights, franchises, winning prizes from abroad; income from inheritance, gifts.

✨ Tax declaration and payment by month: No later than the 20th day of the month following the month in which the tax liability arises.

Subjects: Organizations and individuals that declare personal income tax on a monthly basis (except for tax declarations on a quarterly, yearly basis)

✨  Tax declaration and payment by quarter: No later than the last day of the first month of the next quarter in which the tax liability arises.

Subject:

▪️ A credit institution or a third party authorized by a credit institution to exploit security assets pending the processing of declarations on behalf of taxpayers with collateral.

▪️ Organizations and individuals that pay income subject to tax withholding according to the provisions of the law on personal income tax, and organizations and individuals that pay such income are subject to quarterly value-added tax declaration and choose to declare personal income tax quarterly;

▪️ Individuals earning incomes from salaries and wages directly declare tax with tax authorities and choose to declare personal income tax quarterly.

✨  Yearly tax declaration: no later than the last day of the first month of the calendar year or fiscal year

Subjects: Personal income tax for individuals working as lottery agents, insurance agents, multi-level sales, which have not yet been deducted during the year because the tax has not yet been paid, but at the end of the year, the individual is determined to be subject to tax.

2. Deadline for PIT finalization in 2022

Article 44 of the Law on Tax Administration 2019 stipulates the deadline for submitting tax finalization declarations as follows:

▶️  No later than the last day of the 3rd month from the end of the calendar year or fiscal year for the annual tax finalization dossier.

▶️ No later than the last day of the 4th month from the end of the calendar year for personal income tax finalization dossier of individuals who directly finalize tax.

Thus, for the income of 2021, at the beginning of 2022, the finalization will be made according to the following deadlines:

▶️  If individuals earning incomes from salaries and wages authorize finalization to organizations or individuals that pay income, the deadline for tax finalization is March 31, 2022.

▶️  If an individual earns income from salary or wages, he/she directly finalizes personal income tax with the tax authorities, the deadline for finalization is April 30, 2022.

3. Person authorized to finalize personal income tax

Persons authorized to finalize personal income tax are specified at Point d, Clause 6, Article 8 of Decree 126/2020/ND-CP and guided in Official dispatch 636/TCT-DNNCN dated March 12, 2021.

📌 Accordingly, resident individuals earning incomes from salaries and wages authorize personal income tax finalization for organizations or individuals that paying income, specifically as follows:

▪️ Individuals earning incomes from salaries and wages sign labor contracts for 03 months or more at a place and are actually working there at the time the organizations or individuals that paying income perform the tax finalization, including the case of not working for full 12 months in a calendar year.

📌 In case an individual is an employee who is transferred from the old organization to the new one because the old organization merges, divides, separates, transforms the type of enterprise or the old organization and the new organization in In the same system, the individual is authorized to finalize the tax for the new organization.

▪️ Individuals earning incomes from salaries and wages sign labor contracts for 03 months or more at a place and are actually working there at the time the organization or individual pays income tax finalization, including the case of not working for full 12 months in a calendar year; At the same time, the average monthly income in other places in the year does not exceed 10 million VND and has been withheld PIT at the rate of 10% if no tax finalization is required for this income.

▪️ Individuals who are foreigners ending their working contracts in Vietnam shall make tax finalization declarations with tax authorities before leaving the country. In case an individual has not yet completed tax finalization procedures with the tax authorities, he/she shall authorize an income paying organization or another organization, individual to finalize tax according to regulations on tax finalization applicable to individuals.

📌 In case the income paying organization or other organizations, individuals receive authorization for finalization, they must be responsible for the additional personal income tax payable or have the overpaid tax refund refunded.

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