When is the deadline for submitting the VAT tax declaration in Vietnam for the third quarter of 2024?

When is the deadline for submitting the VAT tax declaration in Vietnam for the third quarter of 2024?

According to Clause 1, Article 44 of the Law on Tax Administration 2019 stipulating the deadline for quarterly tax declaration submission, the third quarter has the following deadline for tax declaration submission:

Deadline for Tax Declaration Submission

...

1. The deadline for submitting tax declaration dossiers for monthly, quarterly taxes is specified as follows:

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

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

...

Thus, according to the above provisions, the last day of the first month of the third quarter of 2024 is October 31, 2024.

Deadline for VAT tax declaration in Vietnam (Image from the Internet)

What are the penalties for late submission of the VAT tax declaration in Vietnam for the third quarter?

According to Article 13 of Decree 125/2020/ND-CP governing the penalties for violations of the tax declaration submission deadline:

- Warning for late submission of tax declaration dossiers from 1 to 5 days with mitigating circumstances.

- Fine from 2,000,000 VND to 5,000,000 VND for late submission of tax declaration dossiers from 1 to 30 days, except as provided in clause 1 of this Article.

- Fine from 5,000,000 VND to 8,000,000 VND for late submission of tax declaration dossiers from 31 to 60 days.

- Fine from 8,000,000 VND to 15,000,000 VND for one of the following acts:

+ Late submission of tax declaration dossiers from 61 to 90 days;

+ Late submission of tax declaration dossiers over 91 days without accruing tax payable;

+ Failing to submit tax declaration dossiers without accruing tax payable;

+ Failing to submit annexes as per tax management regulations for enterprises with associated transactions along with corporate income tax settlement dossiers.

- Fine from 15,000,000 VND to 25,000,000 VND for submission of tax declaration dossiers over 90 days from the deadline and incurring tax payable, where the taxpayer has fully paid the tax and late payment interest to the state budget before the tax authorities issue a decision on tax inspection or audit or before the tax authority makes a record of the late submission of tax declaration dossiers as prescribed in Clause 11, Article 143 of the Tax Administration Law.

Note: The above penalties apply to organizations. The penalty for individuals will be half of the penalty for organizations.

What are procedures for extension for VAT payment deadlines in Vietnam for November and December 2024?

According to Clause 1, Article 4 of Decree 64/2024/ND-CP, specific provisions are as follows:

- For Value Added Tax (excluding VAT at the importation stage)

+ An extension for the payment deadline for VAT payable (including taxes allocated to other provincial localities where the taxpayer's headquarters are located, and taxes paid per occurrence) for the tax period from May to September 2024 (for monthly VAT declarations) and the tax period of Q2 2024, Q3 2024 (for quarterly VAT declarations) of the enterprises and organizations mentioned in Article 3 of this Decree. The extension is 5 months for VAT of May 2024, June 2024, and Q2 2024; 4 months for VAT of July 2024; 3 months for VAT of August 2024; 2 months for VAT of September 2024 and Q3 2024. The extension begins from the end of the statutory VAT payment deadline as per tax management law.

- Enterprises and organizations eligible for an extension comply with the current laws on monthly, quarterly VAT declarations and submissions, but they are not required to pay the VAT payable arising from such declared VAT returns. The new deadlines for VAT payments are:

+ The deadline for VAT payments for the tax period of May 2024 is no later than November 20, 2024.

+ The deadline for VAT payments for the tax period of June 2024 is no later than December 20, 2024.

+ The deadline for VAT payments for the tax period of July 2024 is no later than December 20, 2024.

+ The deadline for VAT payments for the tax period of August 2024 is no later than December 20, 2024.

+ The deadline for VAT payments for the tax period of September 2024 is no later than December 20, 2024.

+ The deadline for VAT payments for the tax period of Q2 2024 is no later than December 31, 2024.

+ The deadline for VAT payments for the tax period of Q3 2024 is no later than December 31, 2024.

- If enterprises and organizations mentioned in Article 3 of Decree 64/2024/ND-CP have branches or affiliated units that declare VAT separately with the direct tax authority of the branch or unit, these branches or units are also eligible for the VAT payment extension.

- If branches or affiliated units of the enterprises or organizations mentioned in clauses 1, 2, and 3 of Article 3 of Decree 64/2024/ND-CP do not engage in production and business activities in the industry or field eligible for the extension, then such branches or units are not eligible for the VAT payment extension.