Finalization Of Personal Income Tax


What is PIT finalization?

Every month, you get paid from the company every month, deduct some of your income to pay PIT.

12 times a year, the salary will be cut 12 times. Understand roughly the PIT amount you have been deducted called “provisional / temporary payment” on each month.

At the end of the year, now you go “PIT finalization”, which means recalculating one more time to see how with the income during that year, how much less do you pay compared to the PIT rate you have “temporarily paid” , if:

  • If you pay an excess, you will be refunded (tax refund)
  • If you are missing, you must pay more
Are you subject to PIT?
  • Business income
  • Income from salaries and wages
  • Income from capital investment
  • Income from capital transfer
  • Income from real estate transfer

See more: Decree No. 65/2013 / ND-CP, Circular 111/2013 / TT-BTC, Circular 92/2015 / TT-BTC and other relevant guiding documents.

  • Being present in Vietnam for 183 days or more in a calendar year or counted for 12 consecutive months from the date of arrival in Vietnam
  • Having a place of habitual residence in Vietnam, including a registered permanent residence or a house rented to live in Vietnam under a term lease.
Non-resident individual means a person who does not meet the prescribed conditions for resident individual.

TPM’s PIT finalization process

Free Tax Consulting

Our consultant will contact, find out your demand & your issue(s); Consulting the basic issue involving tax, procedures & timeline of PIT finalization

Instructing Documents

Certificate of personal income tax withholding & Letter of income confirmation; Passport & Residence card (if you are a foreigner); Reduction form based on family circumstances; Other documents.

Preparing Tax Declaration

Making tax declaring dossiers; Preparing all necessary documents as required by the Tax Authorities.

Signing Tax Finalization

Our consultant will meet and instruct with the tax declaration dossiers signation.

Submitting Tax Finalization

Supporting Tax Declaration online submission; Submitting tax declaration to competent tax authorities.

Handing Over The Original Documents

All of the original documents will be handed over to client after completing the declaration.