THE HANOI TAX DEPARTMENT PROVIDED GUIDANCE ON 2017 PIT FINALIZATION

09.03.2018

On February 05th, 2018, the Hanoi Tax Department issued Official Letter no. 5749/CT-TNCN providing guidance on 2017 PIT finalization and tax code for dependent. Specific guidance includes:

  • Subjects shall make PIT finalization and subjects shall not make PIT finalization
  • Individuals are authorized to make PIT finalization or not authorized to make PIT finalization
  • Determination of taxable incomes and taxed incomes
  • Guidance on the determination of the level of reduction based on family circumstances

Accordingly, enterprises need to note the following points:

  • An individual who earns income from wage or salary, sign a labor contract for at least 03 months with one organization and earns additional incomes from other places less than 10 million VND per month and have been deducted 10% of tax from his income by the income payer shall not finalize tax on the additional income if there’s no requirement.
  • The income payer shall be only received authorization to make tax finalization of the amount that the individuals received from this income payer on behalf of the individuals (Exceptions are individuals moved by enterprises in the segregation, merger, acquisition, conversion process)

Please see more information in the link Official Letter no. 5749/CT-TNCN dated February 05th, 2018

Ecovis in Vietnam
With slogan “Outperform for your success”, ECOVIS VSBC aim at both developing a team of dedicated, high caliber professionals and utilizing high technology in order to provide clients with the best services.

Founded in 2006 we have established a good relationship with three partners: the Association of Chartered Certified Accountants (ACCA), Certified Public Accountant (CPA) and Vietnam Association of Certified Public Accountants (VACPA). With the number of 50 staff members, our current businesses are: business consulting, accounting services and training.

Scope/Services:

UNDERSTANDING AND ANALYSIS OF FINANCIAL STATEMENTS SAT, SUN 11.03.2018 Hanoi
CONSOLIDATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH CIRCULAR 200/BTC SAT, SUN 17.03.2018 Hanoi
FINANCE ANALYSIS USING EXCEL SAT, SUN 08.04.2018 Hanoi
DEVELOPMENT OF INTERNAL CONTROL SYSTEM BASED ON COSO FRAMEWORK SAT, SUN 15.04.2018 HCMC
UNDERSTANDING AND ANALYSIS OF FINANCIAL STATEMENTS SAT, SUN 17.03.2018 HCMC
CONSOLIDATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH CIRCULAR 200/BTC SAT, SUN 17.03.2018 HCMC
SALARY AND PERSONNEL MANAGEMENT SAT, SUN 14.04.2018 HCMC
INTERNAL CONTROL AND RISK MANAGEMENT SAT, SUN 14.04.2018 HCMC
FINANCIAL ANALYSIS USING EXCEL SAT, SUN 21.04.2018 HCMC

This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. For further information, please contact Ecovis VSBC.