What is the deadline for submitting the VAT return in Vietnam for September 2024?

What is the deadline for submitting the VAT return in Vietnam for September 2024?

Based on Article 44 of the 2019 Law on Tax Administration, which stipulates the deadlines for submitting tax declarations as follows:

- The deadline for submitting tax declarations for taxes declared monthly or quarterly is prescribed as follows:

+ No later than the 20th day of the following month in which the tax obligation arises for monthly declarations and submissions;

+ No later than the last day of the first month of the quarter following the quarter in which the tax obligation arises for quarterly declarations and submissions.

- The deadline for submitting tax declarations for taxes with an annual tax calculation period is stipulated as follows:

+ No later than the last day of the third month after the end of the calendar year or fiscal year for annual tax finalization declarations; no later than the last day of the first month of the calendar year or fiscal year for annual tax declarations;

+ No later than the last day of the fourth month after the end of the calendar year for annual personal income tax finalization declarations of individuals directly conducting finalization;

+ No later than December 15 of the preceding year for presumptive tax declarations of business households, business individuals paying tax according to the presumptive method; for newly-operating business households or individuals, the deadline for submitting presumptive tax declarations is no later than 10 days from the start of business activities.

- The deadline for submitting tax declarations for tax declarations and payments per each tax obligation occurrence is no later than the 10th day from the occurrence of the tax obligation.

- The deadline for submitting tax declarations in case of termination of operations, termination of contracts, or reorganization of enterprises is no later than the 45th day from the occurrence of the event.

- In cases where taxpayers submit tax declarations electronically on the last day of the declaration submission deadline and the tax agency's electronic portal experiences technical issues, taxpayers should submit their tax declarations and electronic payment documents the day after the electronic portal is operational again.

Thus, it can be seen that the deadline for submitting the value-added tax declaration for the tax period of September 2024 is October 20, 2024. However, October 20, 2024, falls on a Sunday (a weekly holiday), so the deadline for submitting the VAT return for September 2024 is October 21, 2024 (Monday).

What is the deadline for submitting the VAT return in Vietnam for September 2024? (Image from the Internet)

How much is the fine for submitting the VAT return late by 7 days in Vietnam?

Based on the regulations in Article 13 of Decree 125/2020/ND-CP, late submission of tax declarations will be fined as follows:

[1] A warning for the act of submitting tax declarations late from 01 day to 05 days and having mitigating circumstances.

[2] A fine ranging from VND 2,000,000 to VND 5,000,000 for the act of submitting tax declarations late from 01 day to 30 days, excluding the case provided for in clause 1 of Article 13 Decree 125/2020/ND-CP.

[3] A fine ranging from VND 5,000,000 to VND 8,000,000 for the act of submitting tax declarations late from 31 days to 60 days.

[4] A fine ranging from VND 8,000,000 to VND 15,000,000 for any of the following acts:

- Submitting tax declarations late from 61 days to 90 days;

- Submitting tax declarations late for 91 days or more without incurring a tax payable;

- Failing to submit tax declarations but no tax payable arises;

- Failing to submit annexes as required by tax management regulations for enterprises with related-party transactions along with corporate income tax finalization declarations.

[5] A fine ranging from VND 15,000,000 to VND 25,000,000 for the act of submitting tax declarations late by over 90 days from the deadline, when there is a tax payable, and the taxpayer has fully paid the tax amount, late payment fee into the state budget before the tax authority issues a tax inspection or audit decision or before the tax authority prepares a record of the act of late submission according to clause 11, Article 143 of the 2019 Law on Tax Administration.

Note: The above fine amounts apply to organizations. The fines for individuals are half that of organizations. For taxpayers who are households or household businesses, the fines apply as for individuals.

In addition, based on the regulation in Clause 6, Article 13 of Decree 125/2020/ND-CP, the measures to rectify the consequences when late submitting tax declarations are as follows:

- Compelling the payment of the full amount of late tax payments into the state budget for violations specified in clauses 1, 2, 3, 4, and 5 of Article 13 Decree 125/2020/ND-CP in case taxpayers delay submitting tax declarations resulting in late tax payments;

- Compelling the submission of tax declarations, annexes attached to the tax declarations for violations specified in points c and d of clause 4 of Article 13 Decree 125/2020/ND-CP.

Thus, submitting the VAT return late by 7 days will result in a fine ranging from VND 2,000,000 to VND 5,000,000.

*Note: The above fine amounts apply to organizations. The fines for individuals are half that of organizations. For taxpayers who are households or household businesses, the fines apply as for individuals.

Where is the submission place for VAT returns in Vietnam?

According to Article 11 of Decree 126/2020/ND-CP, it is regulated as follows:

For businesses:

Businesses submit their VAT returns at the directly managing tax agency of the business, except for:

[1] In case a business has multiple business activities in multiple provincial-level areas different from the province or city of its headquarters, they shall:

- Declare VAT for investment projects eligible for VAT refunds at the location of the investment project.

- Declare VAT for real estate transfer activities of investment projects in infrastructure or residential housing (including cases of collecting advance payments from clients according to the progress) at the location of the real estate transfer.

- Declare VAT at the location of the power plant.

[2] In cases where activities occur in multiple provincial-level areas different from where the joint-stock company has its headquarters, and centralized accounting is conducted at the headquarters (except for the cases [1]), they must perform declarations at the tax agency managing the headquarters.

Simultaneously, the joint-stock company must submit a Table of Allocation of Tax Liabilities (if any) to each provincial-level area entitled to state budget revenues (including dependent units, business locations) to the tax agency managing the headquarters, except for some cases where no Allocation Table is required:

- VAT from transportation business activities of the joint-stock company where the transport routes pass through provinces other than where the company is headquartered.

- VAT from insurance and reinsurance business activities.

- VAT from construction business activities (including road construction, electrical transmission lines, water pipelines, oil pipelines, and gas pipelines) in provinces other than where the headquarters is located but does not establish dependent units or business locations in that provincial area, and the value of the construction project, including VAT, is less than VND 1 billion.

- VAT from dependent units or business locations of the joint-stock company, which are micro-enterprises as defined by the law on support for small and medium enterprises.