What information must be included in the tax accounting book in Vietnam?

What information must be included in the tax accounting book in Vietnam?

As stipulated in Article 25 of Circular 111/2021/TT-BTC:

tax accounting book

1. The tax accounting book is a type of data established in the Tax Accounting Subsystem.

2. The tax accounting book is used to record, reflect, and store comprehensively and systematically the amounts of tax receivable, collected, outstanding, refundable, refunded, remaining to be refunded, exempted, reduced, frozen debt, written-off debt during the process of tax management activities performed by tax authorities at all levels.

3. The information in the tax accounting book must ensure a full, accurate, promptly, honest, continuous, and systematic reflection of all tax management activities carried out by the tax authority. The tax accounting department of the tax authority must not omit in the tax accounting book any amounts that are to be collected, have been collected, are outstanding, refundable, have been refunded, are remaining to be refunded, exempted, reduced, frozen debt, or written-off.

4. The tax accounting book in the form of data within the Tax Accounting Subsystem reflects tax accounting information created and stored electronically in the tax accounting database, set up according to the standard procedure of the Tax Management Application System, storing all tax management activities that arise according to each professional content and chronological sequence related to tax accounting. The electronic data form can be printed into a paper version for use as required in tax accounting activities.

5. The tax accounting database must be recorded and stored in compliance with the requirements of the Accounting Law, Electronic Transactions Law, Decree No. 174/2016/ND-CP dated December 30, 2016, of the Government of Vietnam detailing some provisions of the Accounting Law, guiding documents implementing the Accounting Law, and consistent with the provisions of this Circular.

Thus, by regulation, information in the tax accounting book must ensure a full, accurate, promptly, honest, continuous, and systematic reflection of all tax management activities carried out by the tax authority.

The tax accounting department of the tax authority must not omit in the tax accounting book any amounts that the tax authority is to collect, has collected, is outstanding, refundable, has refunded, is remaining to be refunded, exempted, reduced, frozen debt, or written-off.

What information must be included in the tax accounting book in Vietnam? (Image from the Internet)

What are the subjects of tax accounting in Vietnam?

According to the provisions in Clause 2, Article 3 of Circular 111/2021/TT-BTC, tax accounting is the activity whereby tax authorities at all levels collect, record, and reflect all transactions regarding tax amounts the tax authorities must collect, have collected, are outstanding, refundable, have refunded, need to be refunded, are exempted, reduced, frozen, written-off during the execution of tax management operations.

Simultaneously, under the provisions of Article 4 of Circular 111/2021/TT-BTC, the subjects of tax accounting include:

- Amounts to be collected, collected, remaining to be collected concerning taxes: Reflecting the tax amounts to be collected, collected, and outstanding from taxpayers or organizations authorized by the tax authority to collect.

- Amounts to be refunded, refunded, remaining to be refunded: Reflecting the tax amounts the tax authority must refund, have refunded, and need to refund to taxpayers or organizations authorized by the tax authority to collect.

- Exempted, reduced, frozen, written-off tax amounts: Reflecting the tax amounts exempted, reduced, frozen, written off by the tax authority.

What is the task of recording in the tax accounting book in Vietnam?

The recording in the tax accounting book is specified in Clause 2, Article 6 of Circular 111/2021/TT-BTC as follows:

Content of Tax Accounting Work

Tax accounting work is one of the tax management functions of tax authorities at all levels, conducted continuously and systematically according to the tax management process in the Tax Management Application System, which includes the Tax Accounting Subsystem. Tax accounting includes the following tasks:

...

2. Recording in the tax accounting book is a task of tax accounting performed automatically by the Tax Accounting Subsystem to record the input information of tax accounting and tax accounting documents in Clause 1 of this Article for tax accounting purposes, reflecting tax management activities arising during the tax accounting period, including opening, recording, closing, and correcting the tax accounting book according to the regulations in Section 3, Chapter II of this Circular.

...

Thus, by regulation, recording in the tax accounting book is a task of tax accounting performed automatically by the Tax Accounting Subsystem to record the input information and documents of tax accounting, to account for tax, reflecting tax management activities occurring during the tax accounting period, including opening, recording, closing, and correcting the tax accounting book.