Vietnam: What documents are included in the tax declaration dossier at the end of the year?

Vietnam: What documents are included in the tax declaration dossier at the end of the year?

Based on Article 43 of the Law on Tax Administration 2019, the regulations are as follows:

Tax Declaration Dossier

1. The tax declaration dossier for taxes declared and submitted on a monthly basis is the monthly tax return.

2. The tax declaration dossier for taxes declared and submitted on a quarterly basis is the quarterly tax return.

3. The tax declaration dossier for taxes calculated annually includes:

a) The annual tax declaration dossier includes the annual tax return and other related documents related to determining the payable tax amount;

b) The tax declaration dossier at the end of the year includes the annual tax finalization return, annual financial statements, transfer pricing declarations; and other documents related to tax finalization.

4. The tax declaration dossier for taxes declared and paid each time a tax obligation arises includes:

a) Tax return;

b) Invoice, contract, and other documents related to tax obligations as per legal regulations.

5. For export and import goods, the customs dossier as stipulated in the Customs Law is used as the tax declaration dossier.

6. The tax declaration dossier for cases of ceasing operation, terminating contracts, converting enterprise types, or reorganizing enterprises includes:

a) Tax finalization return;

b) Financial statements up to the point of ceasing operation, terminating contracts, converting enterprise types, or reorganizing enterprises;

c) Other documents related to tax finalization.

7. Country-by-country profit reports in cases where the taxpayer is the ultimate parent company of a multinational group in Vietnam with cross-border related party transactions and global consolidated turnover exceeding the prescribed limit, or if the taxpayer’s ultimate parent company is located abroad and is obligated to prepare a country-by-country profit report as per the host country's regulations.

8. The Government of Vietnam details the tax declaration dossiers stipulated in this Article; stipulates the types of taxes declared monthly, quarterly, annually, each time a tax obligation arises, and stipulates the declaration and payment of fines and fees collected by the representative agencies of the Socialist Republic of Vietnam abroad; declaration, provision, exchange, and use of information regarding country-by-country profit reports; criteria to determine taxpayers for quarterly tax declarations.

Thus, according to the above regulations, the documents required in the tax declaration dossier at the end of the year include:

[1] Annual tax finalization return,

[2] Annual financial statements,

[3] Transfer pricing declaration.

[4] Other documents related to tax finalization.

Vietnam: What documents are included in the tax declaration dossier at the end of the year? (Image from the Internet)

What is the deadline for submitting the tax declaration dossier for taxes calculated annually in Vietnam?

Based on Article 44 of the Law on Tax Administration 2019, the regulations are as follows:

Deadline for Submitting Tax Declaration Dossier

1. The deadline for submitting the tax declaration dossier for taxes declared monthly or quarterly is as follows:

a) No later than the 20th day of the following month after the month in which the tax obligation arises for monthly declarations;

b) No later than the last day of the first month of the following quarter after the quarter in which the tax obligation arises for quarterly declarations.

2. The deadline for submitting the tax declaration dossier for taxes calculated annually is as follows:

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

b) No later than the last day of the fourth month after the end of the calendar year for the personal income tax declaration dossier of individuals directly finalizing their taxes;

c) No later than December 15 of the preceding year for the presumptive tax declaration dossier of business households or individuals paying taxes by the presumptive method; in the case of new business households or individuals, the deadline for submitting the presumptive tax declaration dossier is no later than 10 days from the start date of their business operation.

3. The deadline for submitting the tax declaration dossier for taxes declared and paid each time a tax obligation arises is no later than the 10th day from the date of the tax obligation arising.

4. The deadline for submitting the tax declaration dossier for cases of ceasing operations, terminating contracts, or reorganizing enterprises is no later than the 45th day from the date of the event.

5. The Government of Vietnam regulates the deadline for submitting tax declaration dossiers for agricultural land use tax; non-agricultural land use tax; land levy; land rent, water surface rent; fee for the granting of mining rights; fee for the granting of water resource exploitation rights; registration fee; licensing fee; revenues into the state budget in accordance with the law on the management and use of public assets; country-by-country profit reports.

6. The deadline for submitting the tax declaration dossier for exported and imported goods is executed according to regulations of the Customs Law.

7. In cases where taxpayers declare taxes electronically on the last day of the deadline for submitting tax declaration dossiers and the electronic portal of the tax authority encounters technical issues, taxpayers can submit the tax declaration dossiers and electronic tax payment documents on the next day after the electronic portal is back in operation.

Thus, the deadline for submitting the tax declaration dossier for taxes calculated annually is no later than the last day of the third month after the end of the calendar or fiscal year for the annual tax declaration dossier.

When must taxpayers compile supplemental data into the annual tax declaration dossier in Vietnam?

Based on Point a, Clause 4, Article 7 of Decree 126/2020/ND-CP concerning Tax Declaration Dossiers, as follows:

Tax Declaration Dossier

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4. Taxpayers are allowed to submit supplemental declaration dossiers for each tax declaration dossier with errors or omissions, as stipulated in Article 47 of the Tax Administration Law and according to the forms prescribed by the Minister of Finance. Taxpayers shall declare additional information as follows:

a) In cases where the supplemental declaration does not affect the tax obligation, only a Supplemental Declaration Explanation and related documents are required, without the need to submit a Supplemental Declaration Form.

If the annual tax declaration dossier has not been submitted, the taxpayer must supplement the monthly or quarterly tax declaration dossier with errors or omissions and simultaneously compile the supplemental data into the annual tax declaration dossier.

If the annual tax declaration dossier has already been submitted, only the annual tax declaration dossier should be amended; in cases of supplemental declarations of personal income tax finalization returns by organizations or individuals paying wages or salaries, corresponding monthly or quarterly returns with errors or omissions must also be supplemented.

b) Taxpayers declaring additions that result in an increase in payable tax or a decrease in refunded tax from the state budget must pay the increased tax amount or repay the over-refunded tax and late payment interest to the state budget (if any).

In cases where the supplemental declaration only increases or decreases the amount of VAT creditable to the next tax period, it must be accounted in the current tax period. Taxpayers are only allowed to declare an increase in the VAT proposed for refund if they have not submitted the tax declaration dossier of the next tax period and have not submitted a dossier requesting a tax refund.

Thus, it can be seen that taxpayers are allowed to submit supplemental tax declaration dossiers with errors or omissions as stipulated in Article 47 of the Law on Tax Administration 2019. In cases where the annual tax declaration dossier has not been submitted, the taxpayer must supplement the monthly or quarterly tax declaration with errors or omissions and compile the supplemental data into the annual tax declaration dossier.