Companies Allowed to Offset 2009 PIT Overpayments
May 4 – The Ministry of Finance clarified in an official letter released last month that employers or withholding organizations will be allowed to balance PIT overpayments against underpayments among its employees.
According to Official Letter 4238/BTC-TCT, in cases where the employees have made an overpayment, the employer will need to refund the overpayment back then apply for a refund from local tax authorities.
Companies will not need to submit PIT refund dossiers to the authorities. Moreover, overpayments will be refunded within five working days after submission of a request.
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