Vietnam: What does trực tiếp bóng đá k+ personal income tax reduction dossier for taxpayers facing difficulties due to storms include?

Vietnam: What does trực tiếp bóng đá k+ personal income tax reduction dossier for taxpayers facing difficulties due to storms include?

According to trực tiếp bóng đá k+ provisions ofCircular 80/2021/TT-BTC, taxpayers facing difficulties due to Storm Yagi affecting their ability to pay personal income tax are eligible for a tax reduction proportional to trực tiếp bóng đá k+ damage incurred but not exceeding trực tiếp bóng đá k+ amount of tax payable.

In such cases, taxpayers as mentioned above can apply for a personal income tax reduction.

Based on sub-item 87, Section 2, Part 2 Administrative Procedures promulgated underDecision 1462/QD-BTC of 2022; trực tiếp bóng đá k+ list of forms issued withCircular 80/2021/TT-BTCand trực tiếp bóng đá k+ list of tax declaration dossiers issued withDecree 126/2020/ND-CPspecifying trực tiếp bóng đá k+ tax reduction dossier for taxpayers facing difficulties due to natural disasters, fires, or accidents include:

- A proposal document according to form number 01/MGTH as per Appendix 1 - Tax declaration dossier forms issued withCircular 80/2021/TT-BTCdated September 29, 2021, of trực tiếp bóng đá k+ Ministry of Finance;

- Minutes determining trực tiếp bóng đá k+ degree and value of asset damage by competent authorities and confirmed by trực tiếp bóng đá k+ local government of trực tiếp bóng đá k+ commune where trực tiếp bóng đá k+ natural disaster or fire occurred, according to form number 02/MGTH as per Appendix I - Tax declaration dossier forms issued withCircular 80/2021/TT-BTC.

trực tiếp bóng đá k+ competent authority determining trực tiếp bóng đá k+ degree and value of damage is trực tiếp bóng đá k+ financial body or appraisal bodies that ascertain trực tiếp bóng đá k+ degree and value of property damage;

- In case of damage to goods, trực tiếp bóng đá k+ taxpayer must provide an appraisal report (appraisal certificate) on trực tiếp bóng đá k+ damage level from trực tiếp bóng đá k+ appraisal body, which holds legal liability for trực tiếp bóng đá k+ accuracy of trực tiếp bóng đá k+ appraisal certificate as per legal provisions;

- In case of land and crop damage, trực tiếp bóng đá k+ financial authority is responsible for trực tiếp bóng đá k+ determination;

- Documents determining compensation by trực tiếp bóng đá k+ insurance agency or compensation agreement from trực tiếp bóng đá k+ person causing trực tiếp bóng đá k+ fire (if any);

- Expenses directly related to disaster or fire remediation;

- Personal income tax finalization declaration form number 02/QTTT-TNCN according to Appendix I - List of tax declaration dossiers issued withDecree 126/2020/ND-CPand Appendix II - Tax declaration dossier forms issued withCircular 80/2021/TT-BTC(if trực tiếp bóng đá k+ taxpayer applies for a reduction on personal income from wages or salaries).

What are procedures for applying for personal income tax reduction for taxpayers facing difficulties due to storms in Vietnam?

Based on sub-item 87, Section II, Part 2 Administrative Procedures promulgated underDecision 1462/QD-BTC of 2022as follows:

Step 1. Individuals prepare tax reduction dossiers and submit them to trực tiếp bóng đá k+ directly managing tax authority.

Step 2. Tax authority reception:

- In case trực tiếp bóng đá k+ dossier is submitted directly at trực tiếp bóng đá k+ tax authority or sent via postal services: trực tiếp bóng đá k+ tax authority receives and processes trực tiếp bóng đá k+ dossier according to regulations.

- In case trực tiếp bóng đá k+ dossier is submitted through electronic transactions, trực tiếp bóng đá k+ reception, examination, acceptance, and processing of trực tiếp bóng đá k+ dossier (and return of results if there are results) is carried out through trực tiếp bóng đá k+ tax authority's electronic data processing system.

Timeline for personal income tax reduction procedures for taxpayers facing difficulties due to storms?

Based on sub-item 87, Section 2, Part 2 Administrative Procedures promulgated underDecision 1462/QD-BTC of 2022as follows:

- For regular dossiers: within 30 (thirty) days from trực tiếp bóng đá k+ date of receipt of complete dossiers, trực tiếp bóng đá k+ tax authority must issue a tax reduction decision or notify trực tiếp bóng đá k+ taxpayer of trực tiếp bóng đá k+ reasons for not being entitled to a tax reduction.

- For dossiers that require trực tiếp bóng đá k+ tax authority to conduct an actual inspection: within 40 (forty) days from trực tiếp bóng đá k+ date of receipt of complete dossiers, trực tiếp bóng đá k+ tax authority must issue a tax reduction decision or notify trực tiếp bóng đá k+ taxpayer of trực tiếp bóng đá k+ reasons for not being entitled to a tax reduction.

What is trực tiếp bóng đá k+ level of personal income tax reduction for taxpayers facing difficulties due to storms in Vietnam?

In sub-item 1, Section II ofCông kết quả bóng đá trực tiếp 4062/TCT-CSguiding solutions to support organizations, individuals, and businesses suffering losses due to Storm No. 3 and subsequent storm floods, trực tiếp bóng đá k+ regulation on personal income tax reduction is stated as follows:

Legal provisions on exemption, reduction, and extension of taxes, fees, and charges for households and individuals conducting business affected by natural disasters.

1. Regarding tax reduction:

...

Based on trực tiếp bóng đá k+ above provisions, in cases where households and individuals conducting business are faced with difficulties due to natural disasters, they are entitled to a reduction in personal income tax, special consumption tax, and natural resource tax as follows:

- trực tiếp bóng đá k+ reduced level of personal income tax corresponds to trực tiếp bóng đá k+ extent of trực tiếp bóng đá k+ damage but does not exceed trực tiếp bóng đá k+ amount of tax payable;

- trực tiếp bóng đá k+ reduced level of special consumption tax is determined based on actual losses from natural disasters or unexpected accidents, but not exceeding 30% of trực tiếp bóng đá k+ tax payable of trực tiếp bóng đá k+ year trực tiếp bóng đá k+ loss occurred and not exceeding trực tiếp bóng đá k+ value of trực tiếp bóng đá k+ damaged property after compensation (if any).

...

Workers facing difficulties due to storms and floods will be eligible for a personal income tax reduction proportional to trực tiếp bóng đá k+ extent of trực tiếp bóng đá k+ damage but not exceeding trực tiếp bóng đá k+ amount of tax payable.