The deadline for submitting personal income tax settlement documents in 2024 is approaching

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The tax authority noted that the deadline for submitting personal income tax finalization documents in 2024 is May 5, 2025, and required taxpayers to declare fully and accurately.

In 2024, the determination of personal income tax obligations (PIT) and the implementation of PIT declaration and settlement are implemented in accordance with the provisions of the PIT Law No. 04/2007/QH12, the Tax Administration Law No. 38/2019/QH14 and issued guiding documents. In order for taxpayers to grasp information on implementing personal income tax settlement in 2024 no later than May 5, 2025, the tax authority has provided some notes for taxpayers.

About the subjects of personal income tax settlement in 2024

Pursuant to Point d, Clause 6, Article 8 of Decree 126/2020/ND-CP dated October 19, 2020 of the Government, in the case of individuals who are residents with income from salaries and wages, they must directly declare personal income tax settlement in the following cases:

Anh: Cuc Thue
Individual group leaders self-com settle personal income tax. Photo: Tax Department

Regarding the deadline for submitting personal income tax settlement documents in 2024

According to the provisions of the Law on Tax Administration, the deadline for submission of PIT finalization declaration for organizations and individuals pays income by the last day of the 3rd month from the end of the calendar year; For individuals who directly settle the PIT, the last day of the 4th 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 dossier coincided with the holiday as prescribed, the last day of the deadline is calculated as a adjacent working day after that holiday. Therefore, the 2024 PIT finalization period is as follows:

First, for organizations and individuals who pay income, the deadline is no later than March 31, 2025.

Second, in case individuals directly settle personal income tax, the deadline is 05/5/2025.

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 time limit.

Regarding the dossier for opening personal income tax settlement in 2024

According to the provisions of Appendix I of Decree No. 126/2020/ND-CP of the Government, for individuals directly settling personal income tax with the Tax Authority, the personal income tax settlement dossier includes:

First, the personal income tax settlement declaration form No. 02/QTT-TNCN issued with Appendix II of Circular No. 80/2021/TT-BTC dated September 29, 2021 of the Ministry of Finance;

Second, the appendix of the family deduction list for dependents under form No. 02-1/BK-QTT-TNCN;

Third, a copy of documents proving the amount of tax deducted, temporarily paid in the year, the amount of tax paid abroad (if any), ...

Taxpayers need to pay attention

In addition to the content on the deadline, subjects and personal income tax settlement documents mentioned above, taxpayers need to pay attention to a number of additional contents as follows:

First, in case individuals meet the conditions for being authorized to settle personal income tax according to regulations, individuals are encouraged to authorize settlement for income payment organizations to save time and costs for individuals as well as reduce the number of settlement documents sent to tax authorities.

Second, the place of submitting personal income tax settlement documents must follow the specific instructions in Clause 8, Article 11 of Decree No. 126/2020/ND-CP dated October 19, 2020 of the Government.

Third, in addition, from the work of managing and handling records, the tax authority finds that one of the mistakes that individuals often make when dec declaring and settling personal income tax is that individuals cannot fully summarize their own income sources, or cannot accurately declare income received from income paying organizations, the amount of personal income tax that has been deducted in the year.

The tax authority recommends that if taxpayers encounter difficulties and problems when implementing personal income tax settlement in the 2024 settlement period and need additional support, taxpayers can contact the tax management agency directly or the nearest tax authority for best support.

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