What is the deadline for submitting taxes of the fourth quarter in Vietnam? What types of taxes are declared quarterly in Vietnam?
What are the months of the fourth quarter?
In fact, according to the rule of time, each year comprises 4 quarters, and each quarter lasts for 3 months. Since a year has a total of 12 months, this division forms the quarters as follows: To determine which months are in the fourth quarter, it is necessary to identify the time for each quarter as follows:
- The first quarter of the year will begin in January and last until the end of March.
- The second quarter of the year will begin in April and last until the end of June.
- The third quarter of the year will begin in July and last until the end of September.
- The fourth quarter of the year will begin in October and last until the end of December.
Thus, the fourth quarter will last for 3 months, starting from October to the end of December.
What is the deadline for submitting taxes of the fourth quarter in Vietnam?
Based on Clause 1 Article 44 of the Law on Tax Administration 2019 which stipulates the deadline for filing tax declarations as follows:
Deadline for filing tax declarations
- The deadline for filing tax declarations for taxes declared monthly, quarterly is specified as follows:
a) No later than the 20th day of the month following the month in which the tax obligation arises for the case of monthly declaration and payment;
b) No later than the last day of the first month of the following quarter for the case of quarterly declaration and payment.
The deadline for filing quarterly tax declarations is no later than the last day of the first month of the quarter following the quarter in which the tax obligation arises for organizations and individuals declaring and paying taxes quarterly.
Thus, the deadline for submitting fourth quarter 2024 taxes for the case of quarterly declaration and payment is January 31, 2025.
However, January 31, 2025, falls on the third day of the Lunar New Year holiday and is a public holiday according to Official Dispatch 8726/VPCP-KGVX of 2024.
Therefore, based on Article 86 of Circular 80/2021/TT-BTC which stipulates the deadline for filing tax declarations and paying taxes as follows:
Deadline for filing tax declarations and paying taxes
The deadline for filing tax declarations is performed according to the provisions in Clauses 1, 2, 3, 4, 5 of Article 44 of the Law on Tax Administration and Article 10 of Decree No. 126/2020/ND-CP. The deadline for tax payment is performed according to the provisions in Clauses 1, 2, 3 of Article 55 of the Law on Tax Administration and Article 18 of Decree No. 126/2020/ND-CP. If the deadline for filing tax declarations or paying taxes coincides with a public holiday according to regulations, the deadline is postponed to the next working day following the holiday as per the Civil Code.
Additionally, according to Clause 5 Article 148 of the Civil Code 2015 regarding the conclusion of the period as follows:
Conclusion of the Period
- When the period is counted in days, it concludes at the end of the last day of the period.
- When the period is counted in weeks, it concludes at the end of the corresponding day of the last week of the period.
- When the period is counted in months, it concludes at the end of the corresponding day of the last month of the period; if the concluding month does not have a corresponding day, the period concludes on the last day of that month.
- When the period is counted in years, it concludes at the end of the corresponding day and month of the last year of the period.
5. When the last day of the period is a weekend or public holiday, the period concludes at the end of the next working day following the holiday.
- The concluding time of the last day of the period is at twenty-four hours of that day.
If the deadline for filing tax declarations or paying taxes coincides with a holiday (weekend, public holidays, New Year), the deadline for submission and payment is postponed to the next working day.
Thus, according to the Tet holiday schedule, the final deadline for submitting fourth quarter 2024 taxes for quarterly declaration and payment is February 3, 2025.
What is the deadline for submitting taxes of the fourth quarter in Vietnam? (Image from Internet)
What types of taxes are declared quarterly in Vietnam?
According to Clause 2 Article 8 of Decree 126/2020/ND-CP, which stipulates the types of taxes and other revenues under the state budget that are declared quarterly, include:
(1) Corporate income tax for foreign airlines, foreign reinsurance.
(2) Value-added tax, corporate income tax, personal income tax for credit institutions or third parties authorized by a credit institution to exploit collateral assets while awaiting processing, declared on behalf of the taxpayer who has collateral assets.
(3) Personal income tax for organizations and individuals liable to withhold tax according to the provisions of the personal income tax law, where such organizations and individuals are subject to quarterly value-added tax declarations and opt for quarterly personal income tax declarations; individuals with income from salaries and wages directly declared to tax authorities and opt for quarterly personal income tax declarations.
(4) Other taxes and revenues under the state budget declared and paid by organizations and individuals on behalf of individuals, where such organizations and individuals are subject to quarterly value-added tax declarations and opt for quarterly declarations on behalf of individuals, except in cases prescribed at Point g Clause 4 Article 8 of Decree 126/2020/ND-CP.
(5) Supplemental charge when crude oil prices increase (except for the petroleum activities of the Vietnam-Russia Joint Venture Vietsovpetro at Block 09.1).
