xem bóng đá trực tiếp nhà cáiIs PIT finalization required if an individual does not earn any income in Vietnam?

Is PIT finalizationrequired if an individual does not earn any income in Vietnam?

Pursuant to subsection d.1 point d clause 6 Article 8 ofDecree 126/2020/ND-CPregarding personal income xem bóng đá trực tiếp nhà cái for organizations and individuals paying taxable income from wages and salaries; individuals earning income from wages and salaries authorizing xem bóng đá trực tiếp nhà cái finalization to the organization or individual paying the income; or individuals earning income from wages and salaries directly settling taxes with the xem bóng đá trực tiếp nhà cái authority as follows:

Types of taxes declared monthly, quarterly, annually, according to each occurrence of xem bóng đá trực tiếp nhà cái obligation and xem bóng đá trực tiếp nhà cái finalization declaration

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6. Types of taxes, fees declared on an annual basis and settled at the time of dissolution, bankruptcy, cessation of operation, termination of contract, or reorganization of the enterprise. In the case of a conversion of the type of enterprise (excluding state-owned enterprises equitizing) where the converting enterprise inherits all xem bóng đá trực tiếp nhà cái obligations of the enterprise being converted, it is not required to declare xem bóng đá trực tiếp nhà cái finalization until the decision on converting the enterprise is made, and the enterprise declares finalization at year-end. Specifically, as follows:

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d) Personal income xem bóng đá trực tiếp nhà cái for organizations and individuals paying taxable income from wages and salaries; individuals earning income from wages and salaries authorizing xem bóng đá trực tiếp nhà cái finalization to the organization or individual paying the income; individuals earning income from wages and salaries directly settling taxes with the xem bóng đá trực tiếp nhà cái authority. Specifically, as follows:

d.1) Organizations and individuals paying income from wages and salaries have the responsibility to declare xem bóng đá trực tiếp nhà cái finalization and settle on behalf of individuals who have authorized the income payer, regardless of whether xem bóng đá trực tiếp nhà cái deduction occurs or not.In cases where the organization or individual does not pay income, they are not required to declare PIT finalization.In cases where an individual is transferred from an old organization to a new organization due to organizational mergers, consolidations, splits, or conversions within the same system, the new organization is responsible for xem bóng đá trực tiếp nhà cái finalization authorized by individuals for the income part paid by the old organization and retrieves any personal income xem bóng đá trực tiếp nhà cái deduction certificates issued by the old organization (if applicable).

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Thus, during the xem bóng đá trực tiếp nhà cái period, if the business does not pay income to employees, it is not required to declare PIT finalization.

Is PIT finalization required if an individual does not earn any income in Vietnam?(Image from Internet)

What are the PIT finalization for authorized income payers in Vietnam?

Pursuant to subitem 1 Section 4Official Dispatch 883/TCT-DNNCN in 2022from the General Department of Taxation guiding the PIT finalization for organizations and individuals authorized to pay income including:

- Declaration form for PIT finalization form number 05/QTT-TNCN issued with Appendix 2Circular 80/2021/TT-BTC.

- Appendix of a detailed list of individuals subject to progressive xem bóng đá trực tiếp nhà cái accounting according to form number 05-1/BK-QTT-TNCN issued with Appendix 2Circular 80/2021/TT-BTC.

- Appendix of a detailed list of individuals subject to full-rate xem bóng đá trực tiếp nhà cái accounting according to form number 05-2/BK-QTT-TNCN issued with Appendix 2Circular 80/2021/TT-BTC.

- Appendix of a detailed list of dependents eligible for family circumstance deductions according to form number 05-3/BK-QTT-TNCN issued with Appendix 2Circular 80/2021/TT-BTC.

In cases where individuals authorize income-paying organizations to settle xem bóng đá trực tiếp nhà cái on their behalf, individuals must prepare an Authorization Letter for PIT finalization starting from the xem bóng đá trực tiếp nhà cái period of 2021 according to form number 08/UQ-QTT-TNCN issued with Appendix 2Circular 80/2021/TT-BTC.

What are the penalties forfailing to submit PIT finalization on time in Vietnam?

Pursuant to Article 13 ofDecree 125/2020/ND-CPregulating penalties for violations regarding the deadline for submitting xem bóng đá trực tiếp nhà cái declaration dossier as follows:

Penalties for violations regarding the deadline for submitting xem bóng đá trực tiếp nhà cái declaration dossiers

1. Warning for violations of submitting xem bóng đá trực tiếp nhà cái declaration dossiers late by 1 to 5 days with mitigating circumstances.

2. Fine of 2,000,000 VND to 5,000,000 VND for violations of submitting xem bóng đá trực tiếp nhà cái declaration dossiers late from 1 day to 30 days, excluding cases specified in clause 1 of this Article.

3. Fine of 5,000,000 VND to 8,000,000 VND for violations of submitting xem bóng đá trực tiếp nhà cái declaration dossiers late from 31 days to 60 days.

4. Fine of 8,000,000 VND to 15,000,000 VND for the following acts:

a) Submitting xem bóng đá trực tiếp nhà cái declaration dossiers late from 61 days to 90 days;

b) Submitting xem bóng đá trực tiếp nhà cái declaration dossiers late from 91 days or more without incurring payable xem bóng đá trực tiếp nhà cái;

c) failing to submit xem bóng đá trực tiếp nhà cái declaration dossiers but no xem bóng đá trực tiếp nhà cái payable;

d) failing to submit annexes in accordance with xem bóng đá trực tiếp nhà cái management regulations for enterprises with related party transactions attached with corporate income xem bóng đá trực tiếp nhà cái finalization dossiers.

5. Fine of 15,000,000 VND to 25,000,000 VND for violations of submitting xem bóng đá trực tiếp nhà cái declaration dossiers late by over 90 days from the deadline, with incurred xem bóng đá trực tiếp nhà cái payable, and the taxpayer has paid the full amount into the state budget before the xem bóng đá trực tiếp nhà cái authority's inspection decision or before the xem bóng đá trực tiếp nhà cái authority establishes a record of the late submission of xem bóng đá trực tiếp nhà cái declaration dossiers in accordance with clause 11 Article 143 of the xem bóng đá trực tiếp nhà cái Administration Law.

If the fine applicable under this clause exceeds the xem bóng đá trực tiếp nhà cái amount incurred on the xem bóng đá trực tiếp nhà cái declaration dossier, the maximum fine for this case is equal to the xem bóng đá trực tiếp nhà cái amount incurred payable according to the xem bóng đá trực tiếp nhà cái declaration dossier but not less than the median level of the fine frame prescribed in clause 4 of this Article.

6. Remedial measures:

a) Forcing full payment of late xem bóng đá trực tiếp nhà cái payment into the state budget for violations specified in clauses 1, 2, 3, 4, and 5 of this Article if the late submission of xem bóng đá trực tiếp nhà cái declaration dossiers leads to late xem bóng đá trực tiếp nhà cái payment;

b) Forcing xem bóng đá trực tiếp nhà cái declaration, and submission of annexes accompanying xem bóng đá trực tiếp nhà cái declaration dossiers for violations specified at point c, d clause 4 of this Article.

Additionally, pursuant to clause 5 of Article 5Decree 125/2020/ND-CPregulating principles for imposing fines on administrative violations regarding xem bóng đá trực tiếp nhà cái and invoices as follows:

Principles for imposing fines for administrative violations regarding xem bóng đá trực tiếp nhà cái and invoices

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5. For the same act of administrative violation regarding xem bóng đá trực tiếp nhà cái, invoices, the fine level for organizations is twice the fine level for individuals, excluding the fines for violations specified in Articles 16, 17, and 18 of this Decree.

Furthermore, pursuant to point a clause 4 Article 7Decree 125/2020/ND-CPregulating the principles for applying fine levels for administrative violations regarding xem bóng đá trực tiếp nhà cái and invoices as follows:

Forms of penalties, remedial measures, and principles for applying fine levels when imposing penalties for administrative violations regarding xem bóng đá trực tiếp nhà cái and invoices

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4. Principles for applying fine levels

a) Fine levels prescribed in Articles 10, 11, 12, 13, 14, 15, clauses 1, 2 Article 19, and Chapter III of this Decree are fine levels applied to organizations.

For taxpayers who are households, business households apply the fine level as for individuals.

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Thus, failure to submit PIT finalization dossiers on time will be subject to administrative penalties according to legal regulations, with the lightest penalty being a warning. The fine ranges from 1,000,000 VND to 12,500,000 VND for individuals and from 2,000,000 VND to 25,000,000 VND for organizations, based on the lateness of dossier submission.

Furthermore, compulsory measures to rectify the consequences include full payment of late xem bóng đá trực tiếp nhà cái amounts into the state budget and submission of xem bóng đá trực tiếp nhà cái finalization declaration dossiers and annexes accompanying xem bóng đá trực tiếp nhà cái finalization declarations.