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Information from Binh Duong Provincial Tax Department on Individual Income Tax Finalization for the year 2023

2024/02/22

Binh Duong Tax Department has issued Official Letter No. 1017/CTBDU-TTHT dated January 12, 2024, sending out the following information on personal income tax finalization for the year 2023.
If there is no salary payment in 2023, or if the business is suspended over the year 2023, the enterprise is exempted from filing personal income tax return. If salaries were paid, a personal income tax finalization must be filed (even if no withholding occurs).

Enterprises dissolved, bankrupt, suspended, or restructured in 2023 are required to file an individual income tax return up to the time of dissolution, bankruptcy, suspension, or restructuring. However, an enterprise that has changed its corporate form by assuming all tax obligations of the former enterprise must file a tax return as usual.
Those subject to direct filing of income tax returns are exempt from filing individual income tax returns for the year 2023 if any of the following cases apply

① The amount of additional tax due after the final tax return is less than VND50,000.
② The taxpayer has overpaid tax but does not need a tax refund or offset.
③ Temporary income less than VND10,000,000 per month and withholding tax at the rate of 10%.

As for the form of tax return, for corporations, a complete set of personal income tax return can be submitted online on the electronic tax service system (using HTKK tax return support software), and no written submission is required. Individuals may submit tax return form 02/QTT-TNCN on the electronic tax service system (http://thuedientu.gdt.gov.vn), but if they have not been granted an electronic transaction account, a signed written form must be sent to the tax authorities.
The deadline for submitting the complete personal income tax return for the year 2023 is the end of the third month after the end of the calendar year for legal entities and the end of the fourth month after the end of the calendar year for individuals.
For tax returns filed in the name of a corporation, the due date is Sunday, March 31, 2024, so the due date is the next business day, Monday, April 1, 2024. For individual tax returns, the due date is the following business day, Thursday, May 2, 2024, since Tuesday, April 30, 2024, is the Southern Liberation Day and Wednesday, May 1, 2024, is the International Labor Day.
However, since system trouble may occur, it is advisable to file and pay the tax return in April 2024.

 

Reference: Official Letter No. 1017/CTBDU-TTHT dated January 12, 2024 from Binh Duong Tax Department.