When is the cut-off date for data compilation of domestic revenue reports by the tax authorities in Vietnam?

What are 03 types of domestic revenue reports of the tax authorities in Vietnam?

Pursuant to the provisions in Clauses 1, 2, and 3, Article 5 of the Domestic Revenue Reporting Regime issued by the Director General of the General Department of Taxation, attached with Decision 269/QD-TCT of 2024 regarding the 03 types of domestic revenue reports by the Tax Authorities, specifically:

[1] Quick Report: The report data is aggregated daily, including the revenue for the State Budget on the reporting day, for the reporting month, and the cumulative for the year.

[2] Monthly Domestic Revenue Report: The data is calculated from the 01st to the last day of the month. Monthly reports include State Budget revenue for the month and cumulative up to the reporting month.

[3] Annual Report: Aggregates the State Budget revenue during the reporting year, including the revenue from January 1 to December 31 of the reporting year, after closing the fiscal year's accounts.

When is the cut-off date for data compilation of domestic revenue reports by the tax authorities in Vietnam?

Based on the provisions in Clause 4, Article 5 of the Domestic Revenue Reporting Regime issued by the Director General of the General Department of Taxation, attached with Decision 269/QD-TCT of 2024 regarding the cut-off date for data compilation to establish domestic revenue reports:

[1] The cut-off date for monthly domestic revenue reports is the 10th of the following month.

Tax authorities at all levels shall prepare and archive reports in accordance with the provisions in Article 8 of the Domestic Revenue Reporting Regime issued by the Director General of the General Department of Taxation, attached with Decision 269/QD-TCT of 2024.

[2] The cut-off date for annual domestic revenue reports: Divided into 2 stages:

- The cut-off at the time of closing the fiscal year accounts: March 31 of the following year.

- The final cut-off: before the deadline for the local budget settlement as stipulated by the current State Budget Law. If there are adjustments to the previous year's settlement data after the final cut-off as decided by the competent authorities, an explanation must be provided.

When is the cut-off date for data compilation of domestic revenue reports by the tax authorities in Vietnam? (Image from the Internet)

What are regulations on the preparation of domestic revenue reports by the tax authorities in Vietnam?

Based on the provisions in Article 8 of the Domestic Revenue Reporting Regime issued by the Director General of the General Department of Taxation, attached with Decision 269/QD-TCT of 2024 regarding the preparation of domestic revenue reports:

[1] Before preparing domestic revenue reports, the Tax Authorities shall check and review all payment documents for the State Budget arising in the period, fully account for them in the application system, and cooperate with the relevant State Treasury to check, review, and adjust the revenue and payment data to ensure it is accurate with the State Treasury.

For the Tax Departments in localities where both the local Tax Department and the large enterprise Tax Department collect revenue, the local Tax Department shall take the lead, and the large enterprise Tax Department shall cooperate, based on the domestic revenue reports by locality, State Budget revenue reports by the State Treasury, and payment documents to reconcile all payments of the taxpayers managed by the large enterprise Tax Department arising in the locality, ensuring the domestic revenue by locality is accurate with the data of the State Treasury.

[2] The Tax Department, Tax Branch, Regional Tax Branch, and large enterprise Tax Department are responsible for preparing, compiling, and approving reports in the Tax industry's application system in accordance with the deadlines prescribed in Article 4 of the Domestic Revenue Reporting Regime issued by the Director General of the General Department of Taxation, attached with Decision 269/QD-TCT of 2024.

[3] Higher-level Tax Authorities shall compile approved reports from lower-level Tax Authorities: The Tax Department compiles domestic revenue reports from the Tax Branches, Regional Tax Branches within the provincial jurisdiction. The General Department of Taxation compiles domestic revenue reports from Tax Departments nationwide.

[4] The time for preparation, approval, and the form of submitting domestic revenue reports:

- Quick Report: The Tax Authority prepares, compiles, and uses according to the management needs of the unit.

- Monthly Domestic Revenue Report: The Tax Authority prepares, compiles, and approves monthly reports no later than the 10th of the following month. The Tax Department compiles the province-wide report no later than the 12th of the following month. Reports are stored in electronic data format at the unit.

- Annual Domestic Revenue Report: The Tax Authority prepares, compiles, and approves annual reports no later than the 20th after the fiscal year's accounts closing. The Tax Department compiles the province-wide report no later than the 25th after the fiscal year's accounts closing. Reports are stored in both electronic data and paper format at the unit.

[5] The Tax Authority provides domestic revenue reports upon request by competent authorities in accordance with regulations.