15:08 | 23/01/2025

When does Q1 2025 begin? What is the deadline for paying taxes in Vietnam for Q1 2025?

When does Q1 2025 begin? What is the deadline for paying taxes in Vietnam for Q1 2025?

When does Q1 2025 begin?

Each year consists of four quarters, and each quarter lasts 3 months. The division forms the quarters as follows:

- Quarter 1 of the year will start from January to the end of March.

- Quarter 2 of the year will start from April to the end of June.

- Quarter 3 of the year will start from July to the end of September.

- Quarter 4 of the year will start from October to the end of December.

Thus, Quarter 1 of 2025 will commence from January 1 to the end of March (i.e., March 31).

What types of taxes are declared quarterly in Vietnam?

Based on clause 2, Article 8 of Decree 126/2020/ND-CP, which regulates types of taxes and other collections managed by the state budget on a quarterly basis, including:

- Corporate income tax for foreign airlines and foreign reinsurance companies.

- Value-added tax, corporate income tax, and personal income tax for credit institutions or a third party authorized by credit institutions to manage secured assets pending resolution, declaring on behalf of taxpayers with secured assets.

- Personal income tax for organizations and individuals paying taxable income according to personal income tax law, where such organizations and individuals declare value-added tax quarterly and choose to declare personal income tax quarterly; individuals with income from salaries and wages directly declare taxes to tax authorities and choose to declare personal income tax quarterly.

- Taxes and other collections for the state budget declared and paid on behalf of individuals by organizations or individuals, where these organizations or individuals declare value-added tax quarterly and choose to declare taxes on behalf of individuals quarterly, except for the cases prescribed in point g, clause 4, Article 8 of Decree 126/2020/ND-CP.

- Surcharges when crude oil prices increase (excluding oil and gas operations by Vietsovpetro Joint Venture in Block 09.1).

When does Q1 2025 begin?

Vietnam: When does Q1 2025 begin? (Image from the Internet)

What is the deadline for paying taxes in Vietnam for Q1 2025?

Based on the provisions at point b, clause 1, Article 44 of the Law on Tax Administration 2019 regarding the deadline for filing tax returns as follows:

Deadline for filing tax returns

  1. The deadline for filing tax returns for taxes declared monthly, quarterly is regulated as follows:

a) No later than the 20th day of the month following the month in which the tax obligation arises for cases of monthly declaration and payment;

b) No later than the last day of the first month of the quarter following the quarter in which the tax obligation arises for cases of quarterly declaration and payment.

...

Thus, the deadline for paying taxes for Q1 2025 will be, at the latest, the last day of the first month of Q2 2025, which is April 30, 2025.

Moreover, based on Article 86 of Circular 80/2021/TT-BTC, the regulation is as follows:

Deadline for filing tax returns and payment

The deadline for filing tax returns is implemented in accordance with clauses 1, 2, 3, 4, 5 of Article 44 of the Tax Administration Law and Article 10 of Decree 126/2020/ND-CP. The deadline for tax payment is implemented in accordance with clauses 1, 2, 3 of Article 55 of the Tax Administration Law and Article 18 of Decree 126/2020/ND-CP. In case the deadline for filing tax returns or tax payment coincides with a holiday, it shall be moved to the next working day as prescribed by the Civil Code.

Since April 30, 2025, and May 1, 2025, are holidays according to Notice 6150/TB-BLDTBXH of 2024 (holiday calendar from April 30 to May 1, 2025, for officials and public employees from April 30, 2025, to May 4, 2025 (from Wednesday to Sunday), a total of 5 consecutive days)

Therefore, the deadline for paying taxes for Q1 2025 will be moved to the next working day, which is May 5, 2025.

Note: For electronic tax filing and payment, taxpayers can conduct electronic tax transactions 24 hours a day (from 00:00:00 to 23:59:59) and 7 days a week, including holidays, as per point a clause 1, Article 8 Circular 19/2021/TT-BTC

What are the penalties for late tax payment for Q1 2025?

Based on the regulation in Article 13 of Decree 125/2020/ND-CP, late tax payment for Q1 2025 will incur the following fines:

(1) A warning for filing tax returns 1 to 5 days late with mitigating circumstances.

(2) A fine ranging from VND 2,000,000 to VND 5,000,000 for filing tax returns 1 to 30 days late, excluding the case specified in clause 1, Article 13 of Decree 125/2020/ND-CP.

(3) A fine ranging from VND 5,000,000 to VND 8,000,000 for filing tax returns 31 to 60 days late.

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

- Filing tax returns 61 to 90 days late;

- Filing tax returns more than 90 days late but with no tax due;

- Not filing tax returns but with no tax due;

- Not submitting appendices according to tax management regulations for enterprises with related-party transactions attached to the corporate income tax finalization returns.

(5) A fine ranging from VND 15,000,000 to VND 25,000,000 for filing tax returns more than 90 days late since the due date, with tax due, and the taxpayer paid the tax, late payment fee before the tax authorities announce a tax audit or before the tax authorities record the act of late filing tax returns as regulated in clause 11, Article 143 of the Law on Tax Administration 2019.

Note: The penalty amounts above apply to organizations. The penalties for individuals are half of the amount for organizations. For taxpayers who are households or business households, the penalty is the same as for individuals.

Additionally, based on clause 6, Article 13 of Decree 125/2020/ND-CP, remedial measures for late tax filing are as follows:

- Mandatory payment of the late tax debt into the state budget for violations under clauses 1, 2, 3, 4, and 5 of Article 13 Decree 125/2020/ND-CP, in case taxpayers delay intentionally resulting in late tax payments;

- Mandatory submission of tax returns and accompanying appendices for actions specified in points c and d, clause 4 of Article 13 Decree 125/2020/ND-CP.

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When does Q1 2025 begin? What is the deadline for paying taxes in Vietnam for Q1 2025?
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