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Important notices regarding the methods of personal income tax declaration in Vietnam.

Personal income tax
Authorised personal income tax finalization:

Employees are permitted to authorize income-paying organizations and individuals to finalize their personal income tax (PIT) income in the following cases:

– Individual only earns income from wage or salary, signs a labor contract for at least 03 months with an income-paying organization or individual, and in fact still works there when authorizing the finalization, even when he has not worked for the full 12 months in the year.
– Individual works under a more than 3 months labor contract, earns multiple incomes from different companies less than 10 million VND a month and 10% tax has been deducted.
– The individual, apart from the aforementioned income from salaries and wages, earns additional income from other places, income from leasing houses or land use right less than 20 million VND per month and already pay taxes.
– Income-paying bodies, being organizations or individuals, should finalize their employees’ tax imposed on the income paid by that income-paying body only.

Direct personal income tax finalization:

– Individuals that earn incomes from salaries and wages paid by international organizations, embassies, consulates in Vietnam without tax deduction shall submit tax finalization declaration by themselves on a quarterly basis.
– Individual that earns incomes from salaries and wages paid by income-paying bodies abroad shall submit tax finalization declaration by themselves on a quarterly basis.
– Individual works under a more than 3 months labor contract, earns multiple incomes from different companies more than 10 million VND a month and 10% tax has been deducted.
– The individual, apart from the aforementioned income from salaries and wages, earns additional income from other places, income from leasing houses or land use right more than 20 million VND per month and already pay taxes.

Taxable amount / tax rates of resident and none resident are completely different. Fail to properly finalize PIT income will lead to serious fines from tax department. To verify a proper method of personal income tax (PIT) declaration for expats and resident, please contact us for further consultancy.

Viva Business Consulting
Audit – Tax – Accounting Services
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