EY Vietnam Tax alert - Personal Income Tax March 2021
EY Vietnam
31st March 2021
This Alert discusses the following matters: Important notes for 2020 PIT finalization in accordance with guidance of the General Department of Taxation, which includes: 1- Who is required to make an annual PIT return, 2- Who is not subject to finalization obligation, 3- Deduction for personal relief and dependent relief, 4- PIT finalization procedure, 5- Place of submission, 6- Deadline for submission.
On 12 March 2021, the General Department of Taxation issued Official Letter 636/TCT-DNNCN (the OL) providing
guidance on PIT finalization for the year 2020. The OL has provided important notes for organization and individual taxpayers to apply for 2020 PIT finalization including but not limited to the followings:
Individuals subject to direct finalization
Vietnam tax residents having employment income are required to submit the annual PIT return if they have an additional PIT payable after finalization or have an over tax withheld/paid for tax refund or to be offset with the PIT payable of the next coming tax filing period.
Expatriate staying for less than 183 days in their first calendar year in Vietnam but more than 182 days in their first 12 consecutive month period counting from their arrival date, is subject to the first annual PIT finalization covering the first 12 consecutive month.
Expatriates terminating their working period in Vietnam is required to file annual PIT return before their exit.
Income and are subject to tax reduction due to disaster, fatal disease, etc.
Income paying organization subject to withholding finalization
The income paying organizations are required to file an annual PIT finalization are required to file an annual PIT finalization authorized employees regardless of arising tax withholding obligation or not.
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