What is the deadline for tax payment for the tax period of August 2024 in Vietnam?

What is the deadline for tax payment for the tax period of August 2024 in Vietnam?

Under Clause 1, Article 55 of the Law on Tax Administration 2019:

Tax payment deadlines

1. In case tax is calculated by the taxpayer, the tax payment deadline is the deadline for submission of the tax declaration dossier. In case of submission of supplementary tax documents, the tax payment deadline is the deadline for submission of the erroneous tax declaration dossier.

The deadline for paying corporate income tax, which is paid quarterly, is the 30th of the first month of the next quarter.

The deadline for paying resource royalty and corporate income tax on crude oil is 35 days from the date of selling domestically or the date of customs clearance in case of export.

Resource royalty and corporate income tax on natural gas shall be paid monthly.

Under the regulations in Clause 1, Article 44 of the Law on Tax Administration 2019 regarding deadline for submission of monthly tax declaration dossiers:

Deadlines for submission of tax declaration dossiers

1. Deadlines for submission of tax declaration dossiers of taxes declared monthly and quarterly:

a) For taxes declared monthly: the 20th of the month succeeding the month in which tax is incurred;

b) For taxes declared quarterly: the last day of the first month of the succeeding quarter.

2. For taxes declared annually:

a) For annual tax statement dossiers: the last day of the 3rd month from the end of the calendar year or fiscal year. For annual tax declaration dossiers: the last day of the first month from the end of the calendar year or fiscal year

b) For annual personal income tax statements prepared by income earners: the last day of the 4th month from the end of the calendar year;

c) For presumptive tax declarations prepared by household businesses and individual businesses: the 15th of December of the preceding year. For new household businesses and individual businesses: within 10 days from the date of commencement of the business.

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The deadline for submission of monthly tax declaration dossiers is the 20th of the month succeeding the month in which tax is incurred.

Therefore, the deadline for tax payment for the tax period of August 2024 in Vietnam is no later than September 20, 2024, which falls on a Friday.

What is the deadline for tax payment for the tax period of August 2024 in Vietnam? (Image from the Internet)

What are the cases of tax deferral and extension of the deadlines for submission of tax declaration dossiers in Vietnam?

According to the provisions of Article 46 of the Law on Tax Administration 2019 on deadline extension:

Deadline extension

1. In case a taxpayer is unable to submit the tax declaration dossier by the deadline due to a natural disaster, epidemic, fire or accident, the head of the supervisory tax authority will consider extending the deadline for submission.

2. The deadline shall be extended for up to 30 more days for monthly, quarterly, annual declarations and declaration upon tax incurrence; 60 more days for terminal tax declaration.

3. The taxpayer shall send a written request for deadline extension to the tax authority before the deadline, provide explanation and confirmation by the People’s Committee or police authority of the commune in which the event mentioned in Clause 1 of this Article occurred.

4. Within 03 working days from the day on which the taxpayer’s request is received, the tax authority shall inform the taxpayer in writing of whether such request is granted.

In case a taxpayer is unable to submit the tax declaration dossier by the deadline due to a natural disaster, epidemic, fire or accident, the head of the supervisory tax authority will consider extending the deadline for submission.

Note: The extension period shall not exceed 30 days for monthly, quarterly, annual tax return filings, or tax returns per each taxable event; 60 days for annual tax settlement filings from the end of the original deadline for filing the tax return.

What does the application for tax deferral in Vietnam include?

According to Article 64 of the Law on Tax Administration 2019 regarding documents required for tax deferral:

Application for tax deferral

1. A taxpayer eligible for tax deferral as prescribed in this Law shall prepare and send an application for tax deferral to the supervisory tax authority.

2. An application for tax deferral consists of:

a) An application form specifying the reasons for deferral, the amount of tax and the deferral period;

b) Documents supporting the reasons for deferral.

3. The Minister of Finance shall specify the composition of the application for tax deferral.

Thus, the application for tax deferral includes:

- An application form specifying the reasons for deferral, the amount of tax and the deferral period;

- Documents supporting the reasons for deferral.

* The Minister of Finance shall specify the composition of the application for tax deferral.