When is the latest submission deadline for the VAT and PIT declarations in Vietnam for December 2024?

When is the latest submission deadline for the VAT and PIT declarations in Vietnam for December 2024?

According to Clause 1, Article 44 of the Law on Tax Administration 2019 which stipulates the submission deadline for tax declaration dossiers as follows:

Deadline for submission of tax declaration dossiers

1. The deadline for submission of tax declaration dossiers for taxes declared monthly or quarterly is specified as follows:

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

2. The deadline for submission of tax declaration dossiers for taxes calculated on an annual basis is specified as follows:

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

b) No later than the last day of the fourth month from the end of the calendar year for personal income tax finalization dossiers for individuals directly finalizing tax;

c) No later than December 15 of the previous year for tax declaration dossiers of business households, individual business declaring tax under the presumption basis; in cases of new business households, individual business, the submission deadline for tax declaration dossiers is no later than 10 days from the start of business operations.

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According to the above regulations, the deadline for submission of VAT and PIT declaration dossiers for the tax period of December 2024 is no later than January 20, 2025.

When is the latest submission deadline for the VAT and PIT declarations in Vietnam for December 2024? (Image from the Internet)

What is the penalty for late submission of VAT and PIT declarations in Vietnam for December 2024?

According to Article 13 of Decree 125/2020/ND-CP which stipulates administrative penalties for late submission of tax declaration dossiers as follows:

(1) A warning is issued for the act of submitting tax declaration dossiers late from 1 to 5 days if there are mitigating circumstances.

(2) A fine ranging from VND 2,000,000 to VND 5,000,000 for the act of submitting tax declaration dossiers late from 1 to 30 days.

(3) A fine ranging from VND 5,000,000 to VND 8,000,000 for the act of submitting tax declaration dossiers late from 31 to 60 days.

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

- Submitting tax declaration dossiers late from 61 to 90 days;

- Submitting tax declaration dossiers late from 91 days or more without arising tax payable.

(5) A fine ranging from VND 15,000,000 to VND 25,000,000 for the act of submitting tax declaration dossiers late over 90 days from the submission deadline, with arising tax payable, and the taxpayer has fully paid the tax amount, late payment interest into the state budget before the tax authority announces a decision on tax examination, tax inspection or before the tax authority issues a record of late submission of tax declaration dossiers as prescribed in Clause 11, Article 143 of the Law on Tax Administration 2019.

If the fine calculated under clause (5) exceeds the arising tax amount on the tax declaration dossier, the maximum fine for this case is equal to the arising tax amount payable on the tax declaration dossier but not lower than the average level of the fine range from VND 8,000,000 to VND 15,000,000.

In addition, the taxpayer is required to pay the full amount of late payment interest into the state budget in cases where the late submission of the tax declaration dossier leads to late payment of tax.

Moreover, Point a, Clause 4, Article 7 of Decree 125/2020/ND-CP provides:

Principle for applying fines

a) The fines specified in Articles 10, 11, 12, 13, 14, 15, Clauses 1 and 2, Article 19, and Chapter III of this Decree are applicable to organizations.

For taxpayers who are households, business households apply the fine rate as for individuals.

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Based on Clause 5, Article 5 of Decree 125/2020/ND-CP which stipulates the principle for imposing administrative penalties for taxes as follows:

Principles for imposing administrative penalties for taxes and invoices

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5. For the same administrative violation in terms of taxes, invoices, the fine for organizations is 2 times the fine for individuals, except for the fines specified for the violations under Articles 16, 17, and 18 of this Decree.

From the above provisions, it can be seen that the fine under Article 13 of Decree 125/2020/ND-CP is applicable to organizations. Therefore, enterprises that submit tax declaration dossiers late will be fined a maximum of VND 25,000,000. Business households, individual businesses submitting tax declaration dossiers late will be fined a maximum of VND 12,500,000 (1/2 times compared to enterprises).

Where is the submission location for VAT and PIT declaration dossiers in Vietnam for December 2024?

According to Article 45 of the Law on Tax Administration 2019, the submission location for tax declaration dossiers is as follows:

- Taxpayers submit their tax declaration dossiers at the directly managing tax authority.

- In cases of submission through the one-stop-shop mechanism, the location for submitting tax declarations follows the regulations of that mechanism.

- The location for submission of tax declaration dossiers for exported and imported goods is in accordance with the provisions of the Customs Law.

- the Government of Vietnam stipulates the locations for submitting tax declaration dossiers for the following cases:

+ Taxpayers with multiple production and business activities;

+ Taxpayers conducting production and business activities in multiple locations; taxpayers with tax obligations for taxes declared and paid on each occasion;

+ Taxpayers with tax obligations for land revenues; issuance of mineral water and mineral exploitation rights;

+ Taxpayers with personal income tax finalization obligations;

+ Taxpayers declaring taxes through electronic transactions and other necessary cases.