Uni 21-07-2015 - Circular 92/2015/TT-BTC in guidance of tax for business individuals and some contents of adding, revising PIT

On 15 June 2015, MOF issued Circular 92/2015/TT-BTC guiding:

• VAT, PIT for resident individuals having business activities.
• Performing some contents of revising, adding PIT

Some contents of PIT guided in Circular 92/2015/TT-BTC as follows:

• Adding electricity, water  charge and accompanying services (if any) for housing to taxable income. Guiding the actual amount instead of individuals not more 15% of total taxable income other than house rental incurred in the company irrespective of where paying income.
• Excluding taxable income from wedding, funeral for themselves and their family as regulations of organizations, individuals paying income and suitable to CIT.
• Convert taxable income into VND:

• In case, revenue, taxable income received by foreign currency must converted into VND in accordance with actual buying exchange rate of banks the individuals open accounts at the time of income incurred.
• In case, taxpayers do not open transaction accounts in Vietnam, they must convert foreign currency into VND in accordance with the actual buying exchange rate of Vietcombank at the time of income incurred.
• For foreign currency without exchange rate with VND, it must be converted through a kind of foreign currency having exchange rate with VND.

• Some contents of adding, revising of PIT managements:

• Organizations, individuals paying income withholding tax for the income from salary, wage declared tax monthly, quarterly with Form 05/KK-TNCN issued together with Circular 92/2015/TT-BTC.
• For quarterly, monthly declaration of a year-ending, it must be attached to Appendix 01-1/BK-XSBHĐC issued together with Circular 92/2015/TT-BTC.
• Resident individuals having income from salary, wage declared monthly, quarterly to tax authority in compliance with Form 02/KK-TNCN issued together with Circular 92/2015/TT-BTC.
• Individuals having income from salary, wage declared finally to tax authority with Form 02/QTT-TNCN issued together with Circular 92/2015/TT-BTC.
• Individuals authorizes organizations, individuals paying income and finalizing  on behalf of Form 02/UQ-QTT-TNCN issued together with 92/2015/TT-BTC.