Deadline for submitting PIT refund documents in 2022
This article TASCO will inform customers necessary information about the PIT return. If you have any questions that need to be answered, please contact TASCO Tax Agent for a completely free answer and consultation via hotline: 0975480868.
WHAT IS PIT REFUND?
⛳ Personal income tax (PIT) refund is the fact that PIT taxpayers will receive a partial refund from the tax amount paid in the year of finalization from the tax authority, if it meets the conditions prescribed by law.
THE OBJECTS OF PIT REFUND
According to article 70 of the Law on Tax Administration 38/2019/QH14:
"1. Tax administration authority shall refund tax to organizations and individuals eligible for tax refund according to the provisions of tax law.
2. The tax authority shall refund the overpaid amount if the taxpayer has a larger amount of money already paid to the state budget than the amount payable to the state budget as prescribed in Clause 1, Article 60 of this Law.”
According to Clause 2, Article 8 of the Law on Personal Income Tax 2007:
Individuals are entitled to tax refund in the following cases:
a) The paid tax amount is larger than the payable tax amount;
b) The individual has paid tax but has a taxable income that is not up to the taxable level;
c) Other cases as decided by competent state agencies."
In addition, the individual must meet the following conditions
▪️ Individuals who have authorized tax finalization for a third party to collect and perform the tax finalization, the tax refund will have to go through the authorized organization or individual. In case of overpayment, it can be offset in the next tax payment period or returned to individuals if required.
▪️ In addition, individuals who declare directly to the tax office can choose to offset against the payable tax amount of the next period or request a tax refund.
TAX REFUND DOCUMENTS INCLUDES:
▪️ Tax refund request document
▪️ Documents related to tax refund request
HOW TO SUBMIT TAX REFUND
Taxpayers submit tax refund dossiers through the following forms:
▪️ File directly at the tax authority;
▪️ Send documents by post;
▪️ Send electronic documents through the electronic transaction portal of the tax authority.
Deadline for submission of PIT REFUND DOCUMENTS
Deadline for submission personal income tax refund: usually together with the personal income tax finalization deadline (90 days from the end of the fiscal year).
Pursuant to the provisions at Points a, b, Clause 2, Article 44 of the Law on Tax Administration No. 38/2019/QH14 of the National Assembly, the deadline for declaring and submitting PIT finalization documents is as follows:
⭐ For income-paying organizations: the deadline for submitting is the last day of the 3rd month from the end of the calendar year or fiscal year for the annual tax finalization dossier.
⭐ For individuals who directly finalize tax: the deadline for submitting is the last day of the 4th month from the end of the calendar year.
⭐ In case the application is submitted on the same day as the prescribed holiday, the deadline for submitting the application is the next working day. In case there is a PIT refund but late submission of tax finalization declarations as prescribed, no penalty will be applied for administrative violations of tax finalization declaration over time.
⭐ If individuals earning incomes from salaries and wages authorize finalization to organizations or individuals paying incomes, the deadline for tax finalization is March 31, 2022.
⭐ If an individual earns income from salary or wages, he/she directly finalizes personal income tax with the tax agency, the deadline for finalization is April 30, 2022.
TIME TAX AGENCY SETTLEMENT OF TAX REFUND PROPOSES
According to Article 74 of the Law on Tax Administration 2019, the following provisions are made:
For documents eligible for tax refund first, check the following:
▪️ Up to 06 working days from the date on which the tax authority issues notice of the acceptance of the documents, the deadline for processing tax refund documents
▪️ In case the information declared on the tax refund documents is different from the information provided by the tax authority, the tax authority shall notify in writing the taxpayer for explanation and additional information. Time to explain and supplement information is not included in the deadline for processing tax refund documents.
For documents subject to pre-inspection, the following tax refunds will be refunded:
▪️ Up to 40 working days from the date the tax authority gives a written notice of the acceptance of the documents and the deadline for processing the tax refund documents.
▪️ Tax administration agencies must decide to refund tax to the taxpayer or not to refund the taxpayer if the documents is not eligible for tax refund.
In case the deadline is exceeded:
▪️ If the delay in issuing the tax refund decision is due to the fault of the tax authority, in addition to the tax amount to be refunded, the tax administration agency must also pay interest at the rate of 0.03%/day calculated on the amount to be repaid and the number of days of late repayment.
▪️ Interest payment is paid from the central budget in accordance with the law on state budget.
If you have questions about the regulations on PIT, PIT refund or have a need to use PIT finalization service, please contact TASCO Tax Agent immediately, we will assist you in doing fulfill obligations to state agencies fully and quickly with super economical and reasonable service fees.
Contact us now for a completely free consultation!!!
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