Vietnam Extends Deadline for 2009 Personal Income Tax

Authorities have extended the deadline for 2009 personal income tax (PIT) finalization from May 31 to July 31, 2010.

Official Letter 7209/BTC-TCT is the second deadline extension announced for the year. Personal income tax in Vietnam is computed on the average monthly taxable income (divided by 6) and monthly tax rates.

Qualifying companies were allowed to issue customized PIT payment receipts to employees in April granted that the templates are submitted to tax authorities for pre-approval.

Companies are not obliged to issue a PIT payment receipt to each employee unless they are required to do direct finalization with the tax authorities or apply for PIT refund/offset against the next period

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