What is the deadline for tax return submission in Vietnam in October 2024? What is the fine for 40-day late submission of tax returns?

What is the deadline for tax return submission in Vietnam in October 2024?

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

- The deadline for submitting tax returns for monthly and quarterly declared taxes is stipulated as follows:

+ No later than the 20th day of the following month after the month in which the tax obligation arises, in cases of monthly declaration and submission;

+ No later than the last day of the first month of the following quarter after the quarter in which the tax obligation arises, in cases of quarterly declaration and submission.

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

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

+ No later than the last day of the fourth month from the end of the calendar year for the personal income tax finalization dossier of individuals who directly finalize their taxes;

+ No later than December 15 of the preceding year for the tax return of households and individual businesses that pay tax by lump sum method; in the case of new startups, the deadline for submitting the tax return is no later than 10 days from the start of business.

- The deadline for submitting tax returns for each instance of tax obligation arising is no later than the 10th day from the date of tax obligation arising.

- The deadline for submitting tax returns in cases of termination of activities, termination of contracts, or reorganization of the enterprise is no later than the 45th day from the date of the event.

- In cases where the taxpayer submits their tax return through electronic transactions on the last day of the submission deadline and the tax authority's electronic portal encounters a problem, the taxpayer must submit the electronic tax return and payment documents on the following day after the tax authority's portal resumes operation.

Thus, the schedule for tax return submission in October 2024 is as follows:

- VAT Declaration for September 2024: No later than October 21, 2024;

- Personal Income tax return for September 2024: No later than October 21, 2024.

What is the deadline for tax return submission in Vietnam in October 2024? What is the fine for 40-day late submission of tax returns? (Image from the Internet)

What are the regulations on extending the deadline for tax return submission in Vietnam?

Specifically, Article 46 of the 2019 Tax Administration Law provides regulations on extending the deadline for tax return submission as follows:

- Taxpayers who are unable to submit their tax returns on time due to natural disasters, disasters, epidemics, fires, or unexpected accidents may be granted an extension on the submission of tax returns by the head of the directly managing tax authority.

- The extension period is not more than 30 days for submitting monthly tax returns, quarterly tax returns, annual tax returns, or declarations for each instance of tax obligation arising; 60 days for submitting annual tax finalization dossiers from the deadline for submitting tax returns.

- Taxpayers must send a written request for an extension to the tax authority before the tax return submission deadline, clearly stating the reason for requesting an extension with confirmation from the commune People's Committee or the police at the location where the circumstances eligible for an extension occur.

- Within 3 working days from receiving the written request for an extension on submitting the tax return, the tax authority must respond in writing to the taxpayer about acceptance or refusal of the extension request.

What is the fine for 40-day late submission of tax returns in Vietnam?

According to the provisions of Article 13 in Decree 125/2020/ND-CP, the regulations are as follows:

(1) Warning for the act of submitting the tax return late from 01 to 05 days and having mitigating circumstances.

(2) A fine ranging from 2,000,000 VND to 5,000,000 VND for the act of submitting the tax return late from 01 to 30 days, except in case of (1).

(3) A fine ranging from 5,000,000 VND to 8,000,000 VND for the act of submitting the tax return late from 31 to 60 days.

(4) A fine ranging from 8,000,000 VND to 15,000,000 VND for one of the following acts:

- Submitting the tax return late from 61 days to 90 days;

- Submitting the tax return late from 91 days or more but no tax payment obligation arises;

- Not submitting the tax return but no tax payment obligation arises;

- Not submitting the appendices according to the tax management regulations for enterprises with related transactions together with the corporate income tax finalization dossier.

(5) A fine ranging from 15,000,000 VND to 25,000,000 VND for the act of submitting the tax return late over 90 days from the tax return submission deadline, when a tax payment obligation arises and the taxpayer has fully paid the tax amount, late payment amount to the state budget before the tax authority announces the tax audit or inspection decision or before the tax authority makes a minute on the late submission of the tax return according to Clause 11, Article 143 of the 2019 Tax Administration Law.

In cases where the penalty amount exceeds the tax amount arising on the tax return if applied under this paragraph, the maximum penalty amount for this case is equal to the arising tax amount payable on the tax return but not lower than the average level of the fine frame prescribed in (4).

Additionally, the following remedial measures apply:

- Compulsory payment of the late payment amount into the state budget for the violation mentioned above in case the taxpayer delays the tax return submission leading to delayed tax payment;

- Compulsory submission of the tax return and the attached appendices for the violation prescribed at Points c, d, Clause 4, Article 13 of Decree 125/2020/ND-CP.

*Note: This is the penalty for individuals. For the same administrative tax violation, the penalty for organizations is double the penalty for individuals.

Thus, it can be seen that a 40-day late submission of tax returns incurs a fine ranging from 5,000,000 VND to 8,000,000 VND.