What is the deadline for submitting tax returns for December 2024 in Vietnam?
What is the deadline for submitting tax returns for December 2024 in Vietnam?
Pursuant to Clause 1, Article 44 of the Law on Tax Administration 2019, the specific regulation regarding the time for submitting tax declarations is as follows:
Deadline for Submitting Tax Dossiers
- The deadline for submitting tax dossiers for taxes declared on a monthly or quarterly basis is stipulated as follows:
a) No later than the 20th day of the month following the month in which the tax liability arises for cases of monthly declaration and payment;
b) No later than the last day of the first month of the subsequent quarter in which the tax liability arises for cases of quarterly declaration and payment.
- The deadline for submitting tax dossiers for taxes with an annual tax period 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 finalization dossiers; and 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 for individuals conducting direct tax finalization;
c) No later than December 15 of the preceding year for tax declaration dossiers for household businesses and individual businesses paying presumptive tax; in cases of new businesses, the deadline for submitting tax declaration dossiers is no later than 10 days from the commencement of business.
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Thus, according to the above regulation, the exact deadline for submitting the VAT return for December 2024 is January 20, 2025.
What quarter is December 2024?
A year is divided into 4 quarters as follows:
- Quarter 1: January, February, March
- Quarter 2: April, May, June
- Quarter 3: July, August, September
- Quarter 4: October, November, December
Therefore, December 2024 falls in the fourth quarter of 2024.
What is the deadline for submitting tax returns for December 2024 in Vietnam? (Image from Internet)
What are regulations on VAT deferral in Vietnam?
According to Clause 1, Article 4 of Decree 64/2024/ND-CP, the specific regulation is as follows:
- For value-added tax (excluding value-added tax on imports)
+ The deadline for the payment of payable value-added tax (including tax allocated to different provincial localities where the taxpayer's headquarters are located, and tax paid on each occasion of occurrence) for tax periods from May to September 2024 (for cases declaring value-added tax monthly) and the tax periods of the second quarter of 2024, third quarter of 2024 (for cases declaring value-added tax quarterly) of businesses and organizations specified in Article 3 of this Decree. The extension period is 05 months for the value-added tax of May 2024, June 2024, and the second quarter of 2024; the extension period is 04 months for the value-added tax of July 2024; the extension period is 03 months for the value-added tax of August 2024; and the extension period is 02 months for the value-added tax of September 2024 and the third quarter of 2024. This extension period is calculated from the deadline for submitting value-added tax as prescribed by the law on tax administration.
- Businesses and organizations eligible for the extension shall still declare and submit monthly and quarterly VAT returns as per current regulations, but are not yet required to pay the value-added tax payable as declared on their VAT returns. The extended deadline for VAT is as follows:
+ The deadline for submitting value-added tax for the tax period of May 2024 is no later than November 20, 2024.
+ The deadline for submitting value-added tax for the tax period of June 2024 is no later than December 20, 2024.
+ The deadline for submitting value-added tax for the tax period of July 2024 is no later than December 20, 2024.
+ The deadline for submitting value-added tax for the tax period of August 2024 is no later than December 20, 2024.
+ The deadline for submitting value-added tax for the tax period of September 2024 is no later than December 20, 2024.
+ The deadline for submitting value-added tax for the second quarter of 2024 is no later than December 31, 2024.
+ The deadline for submitting value-added tax for the third quarter of 2024 is no later than December 31, 2024.
- In cases where businesses and organizations specified in Article 3 of Decree 64/2024/ND-CP have branches or dependent units that separately declare VAT with the tax authority directly managing the branches or dependent units, then these branches or dependent units are also eligible for the VAT extension.
- In cases where the branches or dependent units of businesses or organizations specified in Clauses 1, 2, and 3 of Article 3 of Decree 64/2024/ND-CP do not engage in business activities within the economic sectors or fields granted an extension, they shall not be eligible for the VAT extension.
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