Managing personal income tax (PIT) has become increasingly complex due to constantly changing regulations. To ensure accuracy and compliance with legal requirements, personal income tax consulting services have become an essential solution, saving individuals time and avoiding unnecessary risks. These services not only support taxpayers in efficient tax declaration but also advise on optimizing tax obligations. Let’s explore the benefits and procedures for PIT declaration under the latest 2024 regulations in this article.

What is Personal Income Tax (PIT)?

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What is Personal Income Tax ?

Personal Income Tax (PIT) is the tax that individuals with income must pay from salaries or other income sources to the state budget after applying deductions. This is both a financial obligation and a right, contributing to a stable revenue stream for the state budget, thereby driving socio-economic development. PIT is established based on the principles of fairness and individual tax-paying capacity.

Who is Required to Pay Personal Income Tax?

According to Article 2 of the Personal Income Tax Law (2007, amended in 2014), individuals liable to pay personal income tax (PIT) include resident individuals with taxable income arising within and outside the territory of Vietnam and non-resident individuals with taxable income arising within the territory of Vietnam. A resident individual is defined as someone who meets at least one of the following criteria:

  • Resident individuals with taxable income arising inside or outside Vietnam.
  • Non-resident individuals with taxable income arising within Vietnam.

The Role of Personal Income Tax Advisory Services

Personal income tax advisory services play a critical role in assisting individuals to manage and optimize their tax obligations. Detailed services provided by a tax advisory unit include:

  • Tax Declaration Assistance: Guidance on preparing and submitting tax declarations while ensuring compliance with tax regulations.
  • PIT Finalization Filing: Preparation and submission of PIT finalization documents as required by tax authorities, along with review to avoid errors.
  • Tax Refund Filing and Documentation Support: Assistance in preparing tax refund applications, providing supplementary documents, and representing individuals in tax-related procedures.
  • Advice on Tax Costs in Accounting: Analysis of tax cost impacts on individual accounting activities and offering solutions to optimize tax expenses and enhance financial management.
  • Risk Assessment: Evaluation of tax-related risks and analysis of pros and cons for various strategies.
  • Transfer Pricing Documentation Support: Preparation of transfer pricing documentation to comply with current legal regulations and ensure accurate reporting.
  • Policy Updates: Regular updates on tax policies to help individuals comply with regulations and meet tax obligations promptly.
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Personal income tax consulting services help individuals manage and optimize their tax obligations

KMC’s Personal Income Tax Advisory Services

KMC’s personal income tax advisory services are built on over 15 years of experience in tax consultancy. Our team comprises highly skilled lawyers and specialists, providing comprehensive legal solutions related to PIT and other taxes. Our services go beyond filing and accounting methods, offering detailed guidance on applying specific policies.

We are committed to assisting clients from tax code registration and dependent declarations to filing and finalizing taxes. With a professional and dedicated approach, KMC ensures maximum protection of client rights.

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KMC specializes in providing comprehensive legal solutions related to personal income tax.

Here are the reasons why clients trust and choose KMC:

  • Extensive Experience: Over 15 years in PIT and legal consulting, with a team of seasoned professionals well-versed in tax regulations and policies.
  • Comprehensive Services: Full-range advisory services covering all aspects of PIT.
  • Tax Burden Reduction: Assistance in applying efficient filing and accounting methods to minimize tax liabilities.
  • Timely and Accurate Consultation: Commitment to providing precise legal information to help clients avoid risks and errors in tax filing and payment processes.
  • Dedicated Customer Support: Representing clients in tax authority dealings, addressing inquiries, and resolving arising issues.
  • Time-Saving: Taking care of complex procedures, allowing clients to focus on their work and other priorities without worrying about tax matters.
  • Confidentiality: Ensuring 100% confidentiality of client information, fostering trust and peace of mind throughout the cooperation.
  • Optimal Solutions: Continuously updating and improving tax advisory solutions to meet diverse client needs.

For tailored consultation and solutions that suit your individual needs, contact us today through our website https://kmc.vn/ for professional and prompt PIT advisory services.