When is the deadline for finalizing corporate income tax in Vietnam in 2025?

Form 03/TNDN: What is the latest 2024 corporate income tax finalization in Vietnam?

Form 03/TNDN for finalizing corporate income tax (applicable for the revenue-cost method) is issued according to Circular 80/2021/TT-BTC as follows:

Form 03/TNDN: DOWNLOAD

When is the deadline for finalizing corporate income tax in Vietnam in 2025? (Image from the Internet)

When is the deadline for finalizing corporate income tax in Vietnam in 2025?

According to Clause 2, Article 44 of the 2019 Tax Administration Law, the deadlines for submitting tax declaration dossiers for annual tax types are as follows:

- No later than the last day of the third month from the end of the calendar year or financial year for annual tax finalization dossiers; no later than the last day of the first month of the calendar year or financial year for annual tax declaration dossiers;

- No later than the last day of the fourth month from the end of the calendar year for individual income tax finalization dossiers of individuals directly finalizing their taxes;

- No later than December 15 of the preceding year for the tax declaration dossiers of businesses applying the presumptive taxation method; in case of new businesses, the deadline for submitting the tax declaration dossier is no later than 10 days from the start of business.

Thus, according to the above regulations, the deadline for finalizing corporate income tax in 2025 for the income of 2024 is March 31, 2025.

What expenses are deductible when determining taxable corporate income in Vietnam?

According to Article 6 of Circular 78/2014/TT-BTC as amended by Article 4 of Circular 96/2015/TT-BTC regulations on deductible and non-deductible expenses when determining taxable corporate income are as follows:

Deductible and Non-deductible Expenses for Determining Taxable Income

1. Except for non-deductible expenses specified in Clause 2 of this Article, enterprises can deduct all expenses if they meet the following conditions:

a) The expense actually arises in relation to the production or business activities of the enterprise.

b) The expense has sufficient legal invoices and documents as prescribed by law.

c) For expenses with invoices for the purchase of goods and services each transaction of 20 million VND or more (VAT included) must have non-cash payment documents.

Non-cash payment documents are to be implemented according to the provisions of legal documents on value-added tax.

In case of purchasing goods and services each of 20 million VND or more stated on the invoice, which, by the time of cost recognition, has not been paid, the enterprise is allowed to deduct the expense when determining taxable income. If at the time of payment, the enterprise does not have non-cash payment documents, it must declare and adjust to reduce the expense for the part of the value of the goods and services without non-cash payment documents from the tax period in which the payment by cash arises (including the case where the tax authority and other competent agencies have already issued inspection and examination decisions on the tax period in which such expenses arise).

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2. Non-deductible expenses when determining taxable income include:

2.1. Expenses that do not meet the conditions specified in Clause 1 of this Article.

In case enterprises incur expenses related to the value of losses due to natural disasters, epidemics, fires, and other force majeure events that are not compensated, such expenses will be considered as deductible costs when determining taxable income. Specifically:

Enterprises must self-determine the total value of losses due to natural disasters, epidemics, fires, and other force majeure events according to legal regulations.

Thus, the deductible expenses when determining taxable corporate income include:

Enterprises can deduct all expenses if they meet the following conditions:

- The expense actually arises in relation to the production or business activities of the enterprise;

- The expense has sufficient legal invoices and documents as prescribed by law;

- For expenses with invoices for the purchase of goods and services each transaction of 20 million VND or more (VAT included) must have non-cash payment documents.

Non-cash payment documents are to be implemented according to the provisions of legal documents on value-added tax.