What is the schedule for submitting tax, labor, and insurance reports in Vietnam in January 2025?

What is the schedule for submitting tax, labor, and insurance reports in Vietnam in January 2025?

Below is the summarized schedule for submitting tax, labor, and insurance reports for January 2025:

What is the schedule for submitting tax, labor, and insurance reports in Vietnam in January 2025? (Image from the Internet)

How much is the fine for late submission of the VAT declaration in Vietnam for the period of December 2024?

According to Article 13 Decree 125/2020/ND-CP, the penalties for late submission of the VAT declaration are stipulated as follows:

- Warning for submitting tax declaration documents 1 to 5 days late with mitigating circumstances.

- Fines ranging from 2,000,000 VND to 5,000,000 VND for submitting tax declaration documents 1 to 30 days late, except for cases specified in Clause 1 of this Article.

- Fines ranging from 5,000,000 VND to 8,000,000 VND for submitting tax declaration documents 31 to 60 days late.

- Fines ranging from 8,000,000 VND to 15,000,000 VND for the following acts:

+ Submitting tax declaration documents 61 to 90 days late;

+ Submitting tax declaration documents over 91 days late without any tax payable arising;

+ Failing to submit tax declaration documents but no tax payable arising;

+ Failing to submit appendices as required by tax administration related to corporate affiliate transactions along with the corporate income tax finalization documents.

- Fines ranging from 15,000,000 VND to 25,000,000 VND for submitting tax declaration documents over 90 days late from the deadline, with tax payable arising and the taxpayer has paid the full amount of tax and late payment interest into the state budget before the tax authority announces the decision to conduct tax inspections or audits, or before the tax authority issues a record of the late submission as specified in Clause 11 Article 143 Law on Tax Administration 2019.

In cases where the penalty calculated according to this clause is greater than the amount of tax payable arising on the tax declaration, the maximum penalty amount shall equal the tax payable arising on the declaration but shall not be less than the average penalty level specified in Clause 4 of this Article.

Note: The fines mentioned above apply to organizations. The fines for individuals committing similar violations are 1/2 of the fines for organizations as per Clause 5 Article 5 Decree 125/2020/ND-CP.

Is it possible to amend tax declaration documents in Vietnam?

Based on Clause 1, Clause 2 Article 47 Law on Tax Administration 2019, the regulations on amending tax declaration documents are as follows:

Amending Tax Declaration Documents

1. If taxpayers discover errors in their tax declaration documents already submitted to the tax authority, they are allowed to amend these documents within 10 years from the deadline of the tax declaration period that contains errors, and before the tax authority or competent authority announces inspection or audit decisions.

2. When the tax authority or competent authority has announced decisions on tax inspections or audits at the taxpayer's premise, the taxpayer is still allowed to amend the tax declaration documents; the tax authority will impose administrative penalties for tax management violations under Articles 142 and 143 of this Law.

3. After the tax authority or competent authority has issued conclusions and handling decisions regarding tax after audits or inspections at the taxpayer's premise, the amendment of tax declaration documents is regulated as follows:

a) Taxpayers are allowed to amend tax declaration documents if it increases payable tax, decreases deductible tax, or decreases exempt, reduced, refunded tax amounts, and will be subject to administrative penalties for tax management violations under Articles 142 and 143 of this Law;

...

Therefore, if taxpayers discover errors, they are allowed to amend the tax declaration documents already submitted to the tax authority within 10 years from the deadline of the tax declaration period that contains errors, and before the tax authority or competent authority announces inspection, audit decisions.

Note: When the tax authority or competent authority has announced decisions on tax inspections or audits at the taxpayer's premise, taxpayers are still allowed to amend tax declaration documents but will be subject to penalties if any acts specified in Articles 142 and 143 of the Law on Tax Administration 2019 are committed.