When to submit the VAT declaration dossier in Vietnam in November 2024?

When to submit the VAT declaration dossier in Vietnam in November 2024?

According to Clause 1, Article 44 of the Tax Administration Law 2019, specific regulations regarding the time for submitting tax returns are as follows:

Deadline for Tax Return Submission

1. The deadline for submitting tax returns for taxes declared monthly or quarterly is specified as follows:

a) No later than the 20th day of the following month for monthly declarations and payments;

b) No later than the last day of the first month of the following quarter for quarterly declarations and payments.

2. The deadline for submitting tax returns for taxes calculated annually 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 settlement returns; no later than the last day of the first month of the calendar year or fiscal year for annual tax returns;

b) No later than the last day of the fourth month from the end of the calendar year for the personal income tax settlement returns of individuals directly settling tax;

c) No later than December 15 of the previous year for the tax declaration of business households and individuals paying fixed tax; in the case of new business individuals, the deadline for tax declaration is no later than 10 days from the start of business.

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Thus, according to the above regulation, the specific time to submit the VAT declaration dossier for November 2024 is December 20, 2024.

When to submit the VAT declaration dossier in Vietnam in November 2024? (Image from the Internet)

Which quarter does November belong to in 2024?

Quarter 1: January, February, March

Quarter 2: April, May, June

Quarter 3: July, August, September

Quarter 4: October, November, December

Thus, November belongs to the fourth quarter of 2024.

What are the procedures for VAT deferral in Vietnam?

According to Article 5 of Decree 64/2024/ND-CP, specific regulations on the procedures for VAT deferral are as follows:

- Taxpayers directly declaring and paying tax to the tax authority eligible for an extension should submit the Extension Request Form (hereinafter referred to as the Extension Request) either electronically; directly to the tax authority in paper form; or via postal service, according to the Form in the Appendix attached to this Decree, to the directly managing tax authority once for all taxes, land rent incurred during the extended tax periods at the time of submitting monthly or quarterly tax returns as regulated by the tax management law. In the case where the Extension Request is not submitted at the same time as tax return submission, the latest submission deadline is September 30, 2024. The tax authority will still extend the payment of taxes and land rent incurred before submitting the Extension Request.

- In cases where taxpayers have extensions covering multiple jurisdictions managed by different tax authorities, the tax authority directly managing the taxpayer is responsible for forwarding the Extension Request information to the relevant managing tax authorities.

- Taxpayers self-determine and are responsible for ensuring the extension request is for eligible subjects as per this Decree. If the taxpayer submits the Extension Request to the tax authority after September 30, 2024, they are not eligible for the extension of tax and land rent payment as prescribed in this Decree. If a taxpayer makes an additional declaration of the tax return for the extended tax period leading to an increased payable amount and submits it to the tax authority before the extended tax payment deadline expires, the extended tax amount includes any additional amount due to the supplementary declaration. If the taxpayer makes a supplementary declaration of the tax return for the extended tax period after the extension deadline, they are not eligible for extending the additional payable amount from the supplementary declaration.

- The tax authority does not need to notify the taxpayer of the acceptance of the tax and land rent payment extension. If, during the extension, the tax authority determines that the taxpayer is not eligible for the extension, they shall issue a notice to the taxpayer about the non-extension, and the taxpayer must fully pay the taxes, land rent, and late payment interest into the state budget for the period already extended. In case, after the extension period ends, a competent state authority's inspection or audit reveals that the taxpayer is not eligible for a tax and land rent payment extension under this Decree, the taxpayer must pay the outstanding tax amount, fines, and late payment into the state budget.

- No late payment interest is calculated for taxes and land rent extended during the extension period (including cases where the taxpayer submits the Extension Request to the tax authority after filing the tax return under Clause 1 of this Article and cases where the competent authority, through inspection, identifies that the taxpayer is eligible for an increased payable amount in the extended tax periods). If the tax authority has calculated late payment interest (if applicable) for the tax returns eligible for extension under this Decree, the tax authority should rectify and not calculate late payment interest.

- Investors of basic construction projects using state budget funds, payments from the state budget for basic construction projects of ODA-funded projects, subject to VAT during payment procedures with the State Treasury, must attach a notice from the tax authority confirming acceptance of the Extension Request or the Extension Request with acknowledgment of submission by the tax contractor implementing the project. The State Treasury, based on the file sent by the investor, shall refrain from deducting VAT during the extension. When the extension period ends, the contractor must pay the extended tax in full as prescribed.