Shall enterprises be entitled for VAT deferral in Vietnam for October 2024 according to Decree 64?

Shall enterprises be entitled for VAT deferral in Vietnam for October 2024 according to Decree 64?

According to Clause 1, Article 4 of Decree 64/2024/ND-CP, specific regulations regarding the tax deferral are as follows:

Extension of the deadline for tax and land rent payment

1. For value-added tax (excluding value-added tax on imports)

a) Extension of the deadline for paying value-added tax due (including taxes allocated to other provincial-level localities where the taxpayer's headquarters are located, and taxes paid on a per-occurrence basis) for the tax periods from May to September 2024 (for cases declaring value-added tax monthly) and for the second quarter of 2024, the third quarter of 2024 (for cases declaring value-added tax quarterly) of the enterprises and organizations as specified in Article 3 of this Decree. The extension period is 05 months for value-added tax of May 2024, June 2024, and the second quarter of 2024; the extension period is 04 months for value-added tax of July 2024; the extension period is 03 months for value-added tax of August 2024; and the extension period is 02 months for value-added tax of September 2024 and the third quarter of 2024. The extension period mentioned herein is calculated from the deadline for paying value-added tax as stipulated by the tax management law.

Enterprises and organizations eligible for the extension must declare and submit monthly and quarterly VAT declaration dossiers as per current law, but are not yet required to pay the value-added tax due as declared in the VAT declaration dossier. The extended deadlines for VAT payment are as follows:

VAT payment deadline for the tax period of May 2024 is no later than November 20, 2024.

VAT payment deadline for the tax period of June 2024 is no later than December 20, 2024.

VAT payment deadline for the tax period of July 2024 is no later than December 20, 2024.

VAT payment deadline for the tax period of August 2024 is no later than December 20, 2024.

VAT payment deadline for the tax period of September 2024 is no later than December 20, 2024.

VAT payment deadline for the tax period of the second quarter of 2024 is no later than December 31, 2024.

VAT payment deadline for the tax period of the third quarter of 2024 is no later than December 31, 2024.

b) In cases where the enterprises, organizations specified in Article 3 of this Decree have branches or affiliated units that report VAT independently to the direct tax authority of the branches or affiliated units, these branches or units are also subject to the VAT payment extension. If the branches or affiliated units of the enterprises or organizations specified in Clauses 1, 2, and 3 of Article 3 of this Decree do not engage in business activities in sectors eligible for the extension, then these branches or units are not subject to the VAT payment extension.

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Therefore, under the above provision, the VAT payment deadline for October 2024 is not extended.

Shall enterprises be entitled for VAT deferral in Vietnam for October 2024 according to Decree 64? (Image from the Internet)

What is the deadline for VAT declaration dossier submission in Vietnam for October 2024?

Based on Clause 1, Article 44 of the 2020 Law on Tax Administration, specific regulations for tax return submission deadlines are as follows:

Deadline for Tax Return Submission

1. The deadline for submitting tax returns for taxes declared monthly or quarterly is stipulated as follows:

a) No later than the 20th of the following month for monthly declarations and payments;

b) No later than the last day of the first month of the following quarter for quarterly declarations and payments.

2. The deadline for submitting tax returns for taxes with annual computation periods is stipulated 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 settlement 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 settlement dossiers by individuals directly settling taxes;

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

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Therefore, according to the above regulation, the precise deadline for submitting the VAT declaration dossier for October 2024 is November 20, 2024.

Vietnam: What is the VAT declaration form for October 2024?

Based on the provision in Appendix 2 issued with Circular 80/2021/TT-BTC, the VAT declaration form is regulated as follows:

VAT declaration form for October 2024 ....download

Note: VAT declaration form No. 01/GTGT according to Circular 80/2021/TT-BTC is the Value-Added Tax Return (applicable to taxpayers calculating tax by the deduction method with production and business activities).