Personal income tax due in March

Laws - Personal income tax declarations for 2009 are due by March 31. Nguyen Dinh Tan, director general of the HCM City Tax Office, explains who will be affected to Tuoi Tre (Youth) newspaper.

How will personal income tax be calculated?

Income tax for individuals, including civil servants, employees of public companies or workers receiving their salary or wage from one employer over the course of the year, will be withheld from their salaries and paid by their employers.

In cases where an individual has more than one source of income and they are not a member of an insurance scheme, they will be required to send documents declaring their income to the sub-tax office of their resident district.

If a person receives income from different employers but pays insurance in one of the companies they work for, the income tax settlement will then be settled by that company.

What about business people?

Individuals with capital gains from one business must lodge their income tax declaration at the tax office where their business is registered.

If a person receives capital gains from several businesses, they should complete the income tax procedures at the tax office where they receive notional reductions of income.

How about people who receive their income in the form of a salary and capital gains?

In such cases that person should apply for tax settlement in the tax office where they receive notional reductions of income.

When is the deadline for submitting tax declarations?

In accordance with the Law on Personal Income Tax, documents must be submitted within 90 days of the new calendar year. As 2009 was the first year the law came into force, the new tax forms will be available on February 1, 2010. That gives individuals less than 60 days to file their tax declarations.