In 2024, the determination of personal income tax obligations and the declaration and finalization of personal income tax shall be carried out in accordance with the provisions of the Personal Income Tax Law No. 04/2007/QH12, the Tax Administration Law No. 38/2019/QH14 and the issued implementing guidelines.

According to the Tax Department, according to the provisions of the Law on Tax Administration, the deadline for submitting the Personal Income Tax Finalization Declaration for organizations and individuals paying income is no later than the last day of the third month from the end of the calendar year; for individuals directly settling personal income tax, no later than the last day of the fourth month from the end of the calendar year.

Pursuant to the provisions of Decree No. 91/2022/ND-CP, if the last day of the tax declaration submission deadline coincides with a prescribed holiday, the last day of the deadline shall be considered the next working day after that holiday. Therefore, the deadline for the 2024 personal income tax settlement period for organizations and individuals paying income is no later than March 31, 2025.

For individuals who directly settle personal income tax, the deadline is no later than May 5, 2025. However, taxpayers should note that individuals with excess personal income tax paid according to the settlement are not required to submit personal income tax settlement documents within this deadline.

According to regulations, for individuals who directly settle personal income tax with the Tax Authority, the personal income tax settlement dossier includes the personal income tax settlement declaration; appendix of family deduction list for dependents, copies of documents proving the amount of tax deducted, temporarily paid during the year, the amount of tax paid abroad (if any)...

In addition to the content on the deadline, subjects and documents for personal income tax settlement, taxpayers need to note that in case an individual meets the conditions for authorization to settle personal income tax according to regulations, the individual is encouraged to authorize the settlement to the income-paying organization, in order to save time and costs for the individual as well as reduce the number of settlement documents sent to the tax authority.

In addition, the place to submit personal income tax finalization dossiers shall comply with specific instructions in Clause 8, Article 11 of Decree No. 126/2020/ND-CP dated October 19, 2020 of the Government.

Along with that, from the management and settlement of records, the tax authority found that one of the mistakes that individuals often make when declaring and settling personal income tax is that individuals do not fully summarize their sources of income or incorrectly declare income received from income-paying organizations and the amount of personal income tax deducted during the year.

According to VNA/Tin Tuc Newspaper