|A tax officer consult and answer about tax policies at northern Hai Phong Province's Taxation Department. — VNA/VNS Photo Hoang Hung
HA NOI (VNS) — About 49,000 people did their personal income tax finalisation themselves last year, just half the number in 2013, the finance ministry reported.
The fall in number was due to the ministry's efforts to reform tax administrative procedures and measures to help taxpayers, Cao Anh Tuan, deputy head of General Department of Taxation, said.
He said taxpayers, especially employees, were encouraged to let their employers finalise their personal income tax declarations.
The move was a convenient one because 97.5 per cent of the enterprises submitted their e-tax declarations.
About one million persons pay personal income tax.
Law number 26/2012/QH13, that took effect from July 2013, and its legal guiding instruments issued in 2013 -- such as Decree No 65/2013/ND-CP and Circular 111/2013/TT-BTC (Circular 111) -- amend and supplement a number of new policies on personal income tax in Viet Nam.
Since July 2013, the new personal income tax threshold has been raised to VND9 million (US$410) per month from VND4 million ($185). In addition, the deduction for each dependent has been raised to VND3.6 million ($166) from VND1.6 million ($74). Consequently, a taxpayer with one dependent must give personal income tax if he has a monthly income of more than VND12.6 million ($583). — VNS