If the tax period is incorrect, what is the tax payment deadline in Vietnam?

If the tax period is incorrect, what is the tax payment deadline in Vietnam?

Based on Clause 1, Article 55 of the Law on Tax Administration 2019, the tax payment deadlines is stipulated as follows:

Tax payment deadlines

1. In cases where taxpayers calculate the tax, the latest tax payment deadlines is the last day of the tax declaration submission period. In cases of supplementing the tax declaration dossier, the tax payment deadlines is the deadline for submitting the tax declaration dossier of the incorrect or erroneous tax period.

For corporate income tax, provisional payments are made quarterly, with the latest tax payment deadlines being the 30th day of the first month of the following quarter.

For crude oil, the deadline for payment of natural resource tax and corporate income tax per each crude oil sale is 35 days from the date of sale for domestically sold crude oil or from the date of customs clearance for exported crude oil as per customs laws.

For natural gas, the deadline for payment of natural resource tax and corporate income tax is monthly.

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Thus, according to the above regulation, if the tax period is incorrect, the tax payment deadlines is the deadline for submitting the tax declaration dossier of the incorrect or erroneous tax period.

If the tax period is incorrect, what is the tax payment deadline in Vietnam? (Image from the Internet)

What are the 2 types of tax declaration dossiers of taxes with annual tax periods in Vietnam?

Based on Clause 3, Article 43 of the Law on Tax Administration 2019, the tax declaration dossier is stipulated as follows:

Tax Declaration

1. The tax declaration dossier of taxes that are declared and paid monthly is the monthly tax declaration form.

2. The tax declaration dossier of taxes that are declared and paid quarterly is the quarterly tax declaration form.

3. The tax declaration dossier for taxes with annual tax periods includes:

a) The annual tax declaration dossier includes the annual tax declaration form and other relevant documents related to the determination of the payable tax amount;

b) The annual tax finalization dossier includes the annual tax finalization declaration form, the annual financial statement, the transfer pricing declaration form; and other relevant documents related to tax finalization.

4. The tax declaration dossier of taxes that are declared and paid separately of tax obligations includes:

a) The tax declaration form;

b) Invoices, contracts, and other documents related to the tax obligation as per the law.

5. For exported and imported goods, the customs dossier as per the Customs Law is used as the tax declaration dossier.

6. The tax declaration dossier for cases of cessation of operations, termination of contracts, conversion of business types, or reorganization of enterprises includes:

a) The tax finalization declaration form;

b) The financial statement up to the point of cessation of operations, contract termination, business type conversion, or enterprise reorganization;

c) Other related documents for tax finalization.

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Thus, according to the regulation, there will be 2 types of tax declaration documents for taxes with annual tax periods, including:

[1] The annual tax declaration dossier includes the annual tax declaration form and other relevant documents related to the determination of the payable tax amount;

[2] The annual tax finalization dossier includes the annual tax finalization declaration form, the annual financial statement, the transfer pricing declaration form; and other relevant documents related to tax finalization.

What is the deadline for submitting tax declaration dossiers of taxes with annual tax periods?

Based on Clause 2, Article 44 of the Law on Tax Administration 2019, the deadline for submitting tax declaration dossiers is stipulated as follows:

Deadline for Submitting Tax Declaration Dossiers

1. The deadline for submitting tax declaration dossiers for monthly and quarterly declared taxes is as follows:

a) No later than the 20th day of the month following the month in which the tax obligation arises for cases of monthly declaration and payment;

b) No later than the last day of the first month of the quarter following the quarter in which the tax obligation arises for cases of quarterly declaration and payment.

2. The deadline for submitting tax declaration dossiers for taxes with annual tax periods is as follows:

a) No later than the last day of the third month from the end of the calendar year or fiscal year for annual tax finalization dossiers; no later than the last day of the first month of the calendar year or fiscal year for annual tax declaration dossiers;

b) No later than the last day of the fourth month from the end of the calendar year for personal income tax finalization dossiers of individuals who directly finalize taxes;

c) No later than December 15 of the preceding year for tax declaration dossiers of business households, individuals paying taxes by the presumptive method; for new business households, individuals, the deadline for tax declaration submission is no later than 10 days from the start of the business.

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Thus, according to the above regulation, the deadline for submitting tax declaration dossiers for taxes with annual tax periods is divided into 3 cases as follows:

Case 1: No later than the last day of the third month from the end of the calendar year or fiscal year for annual tax finalization dossiers;

Additionally, no later than the last day of the first month of the calendar year or fiscal year for annual tax declaration dossiers;

Case 2: No later than the last day of the fourth month from the end of the calendar year for personal income tax finalization dossiers of individuals who directly finalize taxes;

Case 3: No later than December 15 of the preceding year for tax declaration dossiers of business households, individuals paying taxes by the presumptive method;

For new business households, individuals, the deadline for tax declaration submission is no later than 10 days from the start of the business.