Is there a penalty for resubmitting personal income tax finalization?

Many accountants during the finalization period have questions about whether after the deadline for personal income tax finalization and submission of financial statements expire, can they resubmit personal income tax finalization? If I return it, will there be a penalty? To help accountants understand this issue, below is the answer.

After the tax declaration submission deadline expires, if the taxpayer discovers that the tax declaration submitted to the tax authority has errors, he or she may file an additional tax declaration.

If the enterprise has not yet submitted the annual tax finalization declaration, the taxpayer shall additionally declare the temporarily paid tax declaration for the month or quarter with errors, and at the same time synthesize the additional declaration data into the annual tax finalization dossier.

  • In case the annual tax finalization declaration has been submitted, only the annual tax finalization declaration should be supplemented.
  • In case the additional declaration of the annual tax finalization dossier reduces the tax payable, if it is necessary to re-determine the tax payable of the month or quarter, then declare an additional monthly and quarterly declaration and recalculate the late payment interest (if any).

1. Additional personal income tax declaration documents

Tax declaration documents include:

  • The tax declaration for the tax period with errors has been supplemented or adjusted;
  • Explanation for additional declaration or adjustment (according to form No. 01/KHBS issued together with Circular 156/2013/TT-BTC) (in case of additional declaration or adjustment, tax differences arise);
  • Attached documents explain the data in the explanation of additional declarations and adjustments.

Location for submitting documents: at the tax agency directly managing the enterprise.

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Filing deadline: businesses submit to the tax authority on any working day, regardless of the next tax declaration filing deadline, but must be before the tax authority or competent authority. Announcing tax audit and tax inspection decisions at enterprise headquarters.

For example: In 2016, the Company had 9 people subject to personal income tax, but the accountant declared personal income tax finalization for only 8 people in 2016 in the first quarter of 2017, to October 2017 When the accountant discovered it, the accountant made an additional declaration of the 2016 PIT finalization declaration in the month of discovery, October 2017, before the Tax Authority announced the inspection.

2. In case of declaring and paying additional Personal Income Tax

Enterprises must declare additional tax declaration dossiers in the following cases:

2.1. In case an enterprise declares additional tax declaration dossiers that do not change the tax payable, tax deductible, or tax requested for refund:

  • Enterprises prepare tax declarations for the tax period with errors that have been added or adjusted;
  • Send accompanying explanatory documents.

2.2 In case an enterprise declares additional tax declaration documents to increase the tax payable, then:

Enterprises prepare additional declaration documents and determine the late payment interest based on the increased tax amount, the number of days of late payment and the rate of late payment according to regulations.

In case the taxpayer does not determine or incorrectly determines the amount of late payment, the tax authority shall determine the amount of late payment and notify the taxpayer.

Summary of the latest corporate accounting circulars in 2024

3. In case an enterprise declares additional tax declaration documents to reduce the tax payable, then:

The enterprise prepares an additional declaration, the adjusted tax amount is calculated to reduce the tax liability. If it has been paid to the State Budget, it will be offset against the tax payable of the next period or receive a tax refund.

If the tax authority or competent authority has issued a conclusion or decision on tax handling after examination or inspection, the taxpayer may make additional declarations and adjustments as follows:

  • If the taxpayer discovers that the submitted tax declaration has errors but is not related to the period or scope of inspection, the taxpayer may make additional declarations and adjustments and must pay late payment interest according to regulations determined.
  • If the taxpayer discovers that the submitted tax declaration has errors related to the period that has been inspected or inspected but is not within the scope of the inspection or inspection, the taxpayer may make additional declarations and adjustments and must Pay late payment interest according to regulations.
  • The taxpayer discovers that the submitted tax declaration has errors related to the period and scope of inspection, leading to an increase in the amount of tax payable, a decrease in the amount of tax refunded, or a decrease in the amount of tax paid. Deduct or reduce the overpaid tax amount, the taxpayer may make additional declarations, adjustments and be handled according to regulations.

Smart Solutions For Business Company Limited (S4B Vietnam) is a well known firm in Vietnam with experience and capacity to provide consulting services related to personal income tax finalization. Please contact our team of experts in accounting and tax consulting in Vietnam.

Smart Solutions For Business Company Limited (S4B Vietnam)

  • Address: Unit 602A, Tower A, Handi Resco Office Building. 521 Kim Ma Street, Ba Dinh District, Hanoi
  • Tel: + 84 24 3974 4181
  • Email: service@s4b.com.vn

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