The annual tax declaration and finalization is an obligation of organizations and individuals to the state. In order for the process of declaration and finalization to take place smoothly, transparently and in accordance with the process, each individual organization needs to prepare all documents and records in accordance with the provisions of the General Department of Taxation. So, what documents do you need to prepare for personal income tax (PIT) finalization documents? When is the deadline to submit the settlement application?
Personal income tax finalization documents
Tax finalization documents (PIT) based on Decree 126/2020/ND-CP in the section of tax declaration dossiers and declaration forms issued together with Circular 80/2021/TT-BTC (Circular 80) are divided into two different target groups.
Dossier for individuals who directly declare tax with tax authorities
For individuals who directly declare tax with the tax office, the documents that need to be prepared include the following documents:
[1] PIT finalization declaration form No. 02/QTT-TNCN attached to Circular 80
[2] Declaration of family deduction for dependents made according to form No. 02-1/BK-QTT-TNCN issued together with Circular 80.
[3] Copies of documents proving the tax amount already withheld, temporarily paid in the year, and the tax paid abroad (if any).
Note: In case the income paying organization does not issue tax withholding documents to individuals because the income paying organization has ceased to operate, the tax authority will base on the database of the tax industry to consider processing tax finalization dossiers for individuals without having to have tax withholding documents.
[4] A copy of the Tax Withholding Certificate issued by the income paying agency (specify which income tax return has been paid); or A copy of the bank statement for the tax amount paid overseas with the taxpayer's certification in the event that, according to foreign laws, the foreign tax authority does not issue a certificate certifying the paid tax amount.
[5] Copies of invoices and vouchers evidencing contributions to charity funds, humanitarian funds, study promotion funds (if any).
[6] Documents proving the amount of money paid by the unit or organization paying income abroad in case the individual receives income from international organizations, Embassies, Consulates and receives income from abroad.
Dossier for organizations and individuals paying income and making tax declarations
For groups of organizations and individuals paying income, tax declaration dossiers for tax authorities include:
[1] Personal income tax finalization declaration attached to Circular 80, made according to form 05/QTT-TNCN.
[2] Appendix of detailed list promulgated together with Circular 80 according to form 05-1/QTT-TNCN for individuals subject to tax according to the partially progressive schedule
[3] Appendix of detailed list issued together with Circular 80 according to form 05-2/QTT-TNCN for individuals subject to tax at the full tax rate
[4] Appendix of detailed list issued together with Circular 80 according to form 05-3/QTT-TNCN dependents deducting family circumstances
Deadline for submission of PIT finalization documents 2022
According to the legal regulations in the Law on Tax Administration 2019 and Official Letter 636/TCT-DNNCN, the deadline for declaration and submission of personal income tax declaration and finalization documents has been clearly stated. Specifically, in Clause 4, Article 44 of the Law on Tax Administration 2019, the deadline for submitting tax finalization documents is as follows:
- The deadline for submission of documents in case income-paying organizations and individuals make tax finalization in 2021 is the end of the third month of the calendar year or fiscal year (March 3, 31).
- The deadline for submission of documents for individuals who directly finalize taxes with the tax authorities is the last day of the 4th month from the end of the calendar year or fiscal year (April 30, 04)..
In addition, in case the deadline for submitting tax finalization dossiers coincides with a prescribed holiday, the deadline for submission of documents is the next working day according to Official Letter 636/TCT-DNNCN. Thereby, it can be seen that the deadline for submission of documents for individuals who directly finalize taxes with the tax authorities is May 02, 05. But to avoid the case of failure to comply and be sanctioned, taxpayers should submit the application before April 2022, 30.
