To cut down on administrative procedures fortaxpayersand reduce the pressure on tax authorities to process settlement records, according to the provisions of the Tax Administration Law No. 38/2019/QH13 and Decree No. 126/2020/ND-CP stipulating exemption of additional personal income tax payable for individuals with additional tax payable after settlement of each year from VND 50,000 or less.

Thus, these individuals will not have to pay additional taxes nor make personal income tax settlements. Individuals make personal income tax settlements by self-settlement or authorizing the settlement to the income-paying organization according to regulations.

Individuals can pay taxes through the bank.

Individuals authorize the income-paying organization to make final settlement in the following cases: having only income at one place according to the labor contract; having only income at one place according to the labor contract and at the same time having irregular income at other places with an average monthly income in the year of not more than 10 million VND and having had personal income tax deducted at a rate of 10%; individuals areworkersIf an individual is transferred from an old organization to a new organization due to a merger, consolidation, division, separation, or conversion of business type by the old organization or between the old organization and the new organization in the same system, the individual is authorized to settle taxes for the new organization.