The years 2021 and 2022 are the years when many new regulations must be applied, including Decree 126/2020/ND-CP detailing a number of articles of the Law on Tax Administration that took effect on December 5, 2020. 2020 (Decree 126/2020/ND-CP), according to this Decree, the way to determine the declaration period of each type of specific tax return declaration is as follows:
- How to determine PIT declaration period:
- Those who must make a PIT return:
- Previously: According to the provisions of Point a.1 Clause 1 Article 16 of Circular No. 126/2020/TT – BTC, organizations and individuals paying incomes that do not incur monthly/quarterly withholding personal income tax do not must file a tax return.
- Currently: According to Circular No. 126/2020/TT – BTC, income paying organizations and individuals tax finalization declaration and finalization on behalf of individuals authorized by the organization organizations and individuals paying income, regardless of whether there is a tax deduction or not.
PIT is a tax declared on a monthly basis. In case the conditions and criteria for quarterly declaration are met, they may choose to declare quarterly.
- Personal income tax declaration periods:
Applies to organizations and individuals paying income from salaries and wages.
- Declaring quarterly personal income tax for businesses that fully meet the following conditions:
- Enterprise with total revenue of the preceding year of VND 50 billion or less;
- Newly established business.
Quarterly tax declaration is determined once from the first quarter of which the tax obligation arises and is applied stably throughout the calendar year.
- Monthly PIT declaration for Enterprises: Enterprises that are not eligible for PIT declaration quarterly above.
- How to determine VAT declaration period:
- Objects required to declare VAT:
- Enterprises with activities and businesses that are subject to VAT (including newly established enterprises or enterprises that have not or have not had buying and selling activities).
- Enterprises are not required to submit VAT returns if:
- Only activities and businesses are not subject to tax;
- Export processing enterprises only export activities.
- VAT declaration
- Objects of quarterly VAT declaration:
- Enterprises whose total revenue from selling goods and providing services in the preceding year is VND 50 billion or less may declare VAT quarterly.
- Newly established business.
- Objects of monthly VAT declaration: For businesses with total revenue of the preceding year over 50 billion.
- How to determine CIT declaration period:
- CIT has no monthly period, only quarterly calculation and annual settlement.
- Starting from the fourth quarter of 2014 Enterprises no longer have to make quarterly CIT declarations, but only need to calculate the tax amount and pay it.
- Taxpayers subject to quarterly financial statements according to the provisions of the law on accounting shall base themselves on quarterly financial statements and tax regulations to determine the amount of temporarily paid corporate income tax. precious.
- Taxpayers who are not required to prepare quarterly financial statements according to the provisions of the law on accounting shall base themselves on quarterly production and business results and the provisions of the tax law to determine the amount of tax collected. Entering a business to temporarily pay quarterly.
- Taxes – License fees
- New business established in the year:
Newly established enterprises (including small and medium-sized enterprises moving from household businesses) or having established additional dependent units, business locations or starting production and business activities, shall submit a declaration dossier. The license fee is no later than January 30 of the year following the year of establishment or commencement of production and business activities. (According to Point a, Clause 1, Article 10 of Decree 126/2020/ND-CP).
- For businesses that have been operating since previous years:
No license tax return required. Just pay the license fee (the deadline is January 30 every year)
- For Enterprises with changes in capital:
In case there is a change in capital during the year, the enterprise shall submit the license fee declaration dossier no later than January 30 of the year following the year in which the changed information arises.
(According to Point a, Clause 1, Article 10 of Decree 126/2020/ND-CP)
Note: According to Official Letter No. 7090/CTHN-TTHT dated March 10, 2021 of the Tax Department of Ho Chi Minh City. Hanoi about declaring license fees when changing capital, when changing charter capital (even though it does not change license tax levels), enterprises still have to submit a dossier of re-declaring license fees.
You can refer to the following table for easy tracking and lookup, specifically:
| TT | Tax type | Tax Administration Law 2006 | Management Law
Tax 2019 |
Notes |
| 1 | The deadline for submitting tax returns for taxes declared monthly and quarterly is regulated as follows: | |||
| 1.1 | Tax declared and paid monthly | No later than the 20th day of the month following the month in which the tax liability arises. | ||
| 1.2 | Quarterly declaration and payment | No later than the 30th day of the quarter following the quarter in which the tax liability arises. | No later than the last day of the first month of the quarter following the quarter in which the tax liability arises. | New rules can be extended by 1 day. |
| 2 | The time limit for submitting a tax return for a tax with an annual tax period is specified as follows: | |||
| 2.1 | year tax finalization file | No later than the 90th day from the end of the calendar year or fiscal year. | No later than the last day of the 3rd month from the end of the calendar year or fiscal year. | New rule extended by 1 day. |
| 2.2 | Yearly tax return | No later than the 30th day of the first month of the calendar year. | No later than the last day of the first month of the calendar year or fiscal year. | New rule extended by 1 day. |
| 2.3 | Personal income tax finalization records of individuals who directly finalize taxes< /strong> | – | No later than the last day of the 4th month from the end of the calendar year | The old law did not specify the time limit for individuals to directly settle the settlement (delayed by 01 month). |
| 2.4 | The flat tax return of business households and individuals paying tax by the flat method.< /em> | – | No later than December 15 of the preceding year | – |
| In the case of a new business household or individual, the time limit for submitting a flat tax return is 10 days from the date of commencement of business. | ||||
| 3 | Time limit for filing tax returns for taxes declared and paid each time they are incurred. | No later than the 10th day from the date the tax liability arises. | – | |
| 4 | Time limit for filing tax returns in case of termination of operation, contract termination or business reorganization.< /td> | No later than the 45th day from the date of decision. | No later than the 45th day from the date of the event. | – |
| 5 | Time limit for submitting tax declaration dossiers for imported and exported goods. | According to the provisions of the Customs Law. | – | |
| Note : In case a taxpayer declares tax through electronic transactions on the last day of the tax return filing deadline, but the electronic portal of the tax authority encounters a problem, the taxpayer shall submit a tax return. tax declaration dossiers, electronic tax payment documents in the next day after the tax authority’s electronic portal continues to operate. | ||||
The above is a new regulation on the deadline for submitting tax returns, according to the Tax Administration Law 2019 effective from July 1, 2020 the deadline for submitting tax returns there are some changes in the direction of prolonging the deadline for submission of documents. .
In particular, the time limit for individuals to directly finalize personal income tax is extended by one month, which helps taxpayers and tax authorities have more time, avoiding processing both tax finalization and income at the same time. Personal income tax made by the enterprise and finalization of corporate income tax.
If you have difficulty in matters related to accounting and tax procedures, please contact us: TRUST Law Firm & BACKER is a Professional Law Firm established in Vietnam and reputable market, especially in Ho Chi Minh City. We are confident to give our customers the best accounting services, the principle of bringing the highest value of benefits to customers, the most professional service and the place where customers give their full trust.
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