Vietnam: What does the monthly or quarterly tax declaration dossier prepared by organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents include?
- What does the monthly or quarterly tax declaration dossier prepared by organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam include?
- Where will organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam submit tax declaration dossiers?
- What is the time limit of submitting tax declaration dossiers for organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam?
What does the monthly or quarterly tax declaration dossier prepared by organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam include?
Pursuant to Clause 1, Article 15 of Circular 40/2021/TT-BTC stipulating as follows:
Tax administration of individuals who directly sign contracts to work as lottery agents, insurance agents, MLM agents, other business activities
1. Tax declaration dossiers
a) Monthly and quarterly tax declaration dossiers prepared by deducting organizations
The tax declaration dossier shall contain the documents specified in Point 9.1 of Appendix I of the Decree No. 126/2020/ND-CP. To be specific:
- The tax form No. 01/XSBHDC enclosed herewith (for lottery enterprises, insurers, MLM enterprises paying commissions to individuals who sign contracts to work as commission agents; insurers paying life insurance payouts and other non-compulsory insurance payouts);
- The statement of income paid to the individuals (Form No. 01-1/BK-XSBHDC enclosed herewith), which must include all individuals that are paid in the tax year, whether tax is deducted or not.
Accordingly, the monthly and quarterly tax declaration dossier prepared by organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam includes:
- The tax declaration form
- The statement of income paid to the individuals, which must include all individuals that are paid in the tax year, whether tax is deducted or not.
Where will organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam submit tax declaration dossiers?
Pursuant to Clause 2, Article 15 of Circular 40/2021/TT-BTC stipulating as follows:
Tax administration of individuals who directly sign contracts to work as lottery agents, insurance agents, MLM agents, other business activities
...
2. Receiving authorities
Receiving authorities are specified in Clause 1 Article 45 of the Law on Tax Administration. To be specific:
a) Organizations that deduct tax from income of individuals who directly sign contracts to work as lottery agents, insurance agents, MLM agents shall submit tax declaration dossiers at their supervisory tax authority.
b) Individuals who as lottery agents, insurance agents, MLM agents, other business activities and declare tax annually shall submit tax declaration dossier to the supervisory sub-department of taxation of the area where their permanent or temporary residence is located.
Accordingly, organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam shall submit tax declaration dossiers at their supervisory tax authority.
What is the time limit of submitting tax declaration dossiers for organizations deducting tax from income of individuals who directly sign contracts to work as insurance agents in Vietnam?
Pursuant to Clause 3, Article 15 of Circular 40/2021/TT-BTC stipulating as follows:
Tax administration of individuals who directly sign contracts to work as lottery agents, insurance agents, MLM agents, other business activities
...
3. Deadlines for submission of tax declaration dossiers
a) Lottery enterprises, insurers, MLM enterprises shall submit tax declaration dossiers by the deadlines specified in Clause 1 Article 44 of the Law on Tax Administration. To be specific:
a.1) Lottery enterprises, insurers, MLM enterprises shall submit monthly tax declaration dossiers by the 20th of the month succeeding the month in which tax is incurred.
a.2) Lottery enterprises, insurers, MLM enterprises shall submit quarterly tax declaration dossiers by the last day of the first month of the quarter succeeding the quarter in which tax is incurred.
b) Individuals who directly sign contracts to work as lottery agents, insurance agents, MLM agents, other business activities prescribed in Point a Clause 2 Article 44 of the Law on Tax Administration shall submit annual tax declaration dossier by the last day of the first month of the succeeding calendar year.
Accordingly, insurers shall submit monthly tax declaration dossiers by the 20th of the month succeeding the month in which tax is incurred.
Insurers shall submit quarterly tax declaration dossiers by the last day of the first month of the quarter succeeding the quarter in which tax is incurred.
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