What is PIT finalization in Vietnam? What are trực tiếp bóng đá việt nam hôm nay cases in which employees in Vietnam are not required to finalize PIT?
What is PIT finalization in Vietnam?
Under trực tiếp bóng đá việt nam hôm nay provisions of Clause 10, Article 3 of trực tiếp bóng đá việt nam hôm nayTax Administration Law 2019:
Explanation of terms
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10. Tax finalization means trực tiếp bóng đá việt nam hôm nay calculation of tax accrued in a tax year or over trực tiếp bóng đá việt nam hôm nay period from trực tiếp bóng đá việt nam hôm nay beginning of a tax year to trực tiếp bóng đá việt nam hôm nay termination of taxable activities, or over trực tiếp bóng đá việt nam hôm nay period during which taxable activities occur as prescribed by law..
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PIT finalization can be understood as individuals with taxable income according to trực tiếp bóng đá việt nam hôm nay regulations of trực tiếp bóng đá việt nam hôm nayLaw No. 04/2007/QH12personally or authorize income payers to determine trực tiếp bóng đá việt nam hôm nay payable tax amount within trực tiếp bóng đá việt nam hôm nay period in which trực tiếp bóng đá việt nam hôm nay PIT obligation arises in accordance with trực tiếp bóng đá việt nam hôm nay law.
What is PIT finalization in Vietnam? What are trực tiếp bóng đá việt nam hôm nay cases in which employees in Vietnam are not required to finalize PIT? (Image from trực tiếp bóng đá việt nam hôm nay Internet)
What are trực tiếp bóng đá việt nam hôm nay cases in whichemployees in Vietnam are not required tofinalize PIT?
Under trực tiếp bóng đá việt nam hôm nay guidance of trực tiếp bóng đá việt nam hôm nay General Department of Taxation in Vietnam in Section 2Official Dispatch 883/TCT-DNNCN in 2022, trực tiếp bóng đá việt nam hôm nay provisions are as follows:
II. ENTITIES NOT REQUIRED TO FINALIZE TAX
1. For individuals
Individuals with income from salaries and remunerations in trực tiếp bóng đá việt nam hôm nay following cases do not have to finalize PIT:
- Individuals with an additional payable PIT amount after trực tiếp bóng đá việt nam hôm nay annual finalization of 50,000 VND or less. Individuals exempt from tax in this case self-determine trực tiếp bóng đá việt nam hôm nay exempted tax amount and are not required to submit a PIT finalization dossier or a tax exemption dossier. In trực tiếp bóng đá việt nam hôm nay case of finalization periods from 2019 and earlier finalized before trực tiếp bóng đá việt nam hôm nay effective date of Decree 126/2020/ND-CP, no retrospective processing is carried out;
- Individuals with an amount of payable PIT less than trực tiếp bóng đá việt nam hôm nay temporarily paid tax amount who do not request a tax refund or offset for trực tiếp bóng đá việt nam hôm nay subsequent declaration period;
- Individuals with income from salaries and remunerations having a labor contract term of 03 months or more at one unit, and concurrently having sporadic income at other places with an average monthly income in trực tiếp bóng đá việt nam hôm nay year not exceeding 10 million VND, and have been deducted 10% PIT, if there is no request, they are not required to finalize tax for this income part;
- Individuals whose employers purchase life insurance (excluding voluntary pension insurance) or other non-compulsory insurance with a cumulative insurance fee, and trực tiếp bóng đá việt nam hôm nay employer or insurer has deducted 10% PIT on trực tiếp bóng đá việt nam hôm nay insurance fee corresponding to trực tiếp bóng đá việt nam hôm nay part trực tiếp bóng đá việt nam hôm nay employer purchases or contributes for trực tiếp bóng đá việt nam hôm nay employee, trực tiếp bóng đá việt nam hôm nay employee is not required to finalize PIT for this income part.
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Thus, employees are not required to finalize PITon income from salaries and remunerations in trực tiếp bóng đá việt nam hôm nay following four cases:
- After trực tiếp bóng đá việt nam hôm nay annual finalization, if trực tiếp bóng đá việt nam hôm nay employee has an additional payable PIT amount of 50,000 VND or less, they are exempt from tax, self-determine trực tiếp bóng đá việt nam hôm nay exempted tax amount, and are not required to submit a PIT finalization dossier or a tax exemption dossier.
- trực tiếp bóng đá việt nam hôm nay payable PIT amount of trực tiếp bóng đá việt nam hôm nay employee is less than trực tiếp bóng đá việt nam hôm nay temporarily paid tax amount, and there is no request for a tax refund or offset for trực tiếp bóng đá việt nam hôm nay subsequent declaration period.
- Income from salaries and remunerations having a labor contract term of 03 months or more, and sporadic income averaging not more than 10 million VND monthly, which has been deducted 10% PIT.
- Employees whose employers purchase life insurance or other non-compulsory insurance with cumulative insurance fees, which have been deducted 10% PIT on trực tiếp bóng đá việt nam hôm nay insurance fees corresponding to trực tiếp bóng đá việt nam hôm nay part purchased or contributed by trực tiếp bóng đá việt nam hôm nay employer.
What doesincome from salaries and remunerations subject to PIT in Vietnam include?
According to Clause 2, Article 3 of trực tiếp bóng đá việt nam hôm nayLaw No. 04/2007/QH12 trực tiếp(amended and supplemented by Clause 1, Article 1 of trực tiếp bóng đá việt nam hôm nayLaw No. 26/2012/QH13 xem bóng đá trực tiếp trên), taxable income from salaries and remunerations of employees includes:
- salaries, remunerations andamounts of similar nature;
- Allowances, subsidies, except for amounts:
+ Those paid under legal provisions on preferential treatment of persons with meritorious services;
+ defense or security allowances; hazard or danger allowances for persons working in branches, occupations or jobs at places where exist hazardous or dangerous elements;
+ allowances for attraction of laborers to work in certain branches or in certain regions specified by law;
+ allowances for sudden difficulties, allowances for laborers having labor accident or suffering from occupational disease, lump-sum maternity or child adoption allowances; allowances for working capacity loss, lump-sum retirement allowances, monthly survivorship allowances and other allowances as prescribed by law on social insurance;
+ severance and job-loss allowances specified in trực tiếp bóng đá việt nam hôm nay Labor Code;
+ subsidies of social relief nature and other allowances, subsidies without nature of salaries, remunerations as prescribed by trực tiếp bóng đá việt nam hôm nay Government.
