How to change from declaring tax monthly to declaring tax quarterly in Vietnam in 2024?
How to change from declaring tax monthly to declaring tax quarterly in Vietnam in 2024? What is the deadline for submission of tax declaration dossiers of taxes declared quarterly in Vietnam in 2024? - Ms. Tuyen (HCMC)
How to change from declaring tax monthly to declaring tax quarterly in Vietnam in 2024?
Pursuant to Clause 2 Article 9 of the Decree 126/2020/ND-CP stipulating instructions on change from declaring tax monthly to declaring tax quarterly:
Conditions for quarterly declaration of VAT and personal income tax
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2. Taxpayers shall determine their eligibility to declare tax quarterly themselves.
a) Taxpayers that fulfill all requirements for quarterly declaration may choose between monthly or quarterly declaration throughout the calendar year.
b) In case a taxpayer who is declaring tax monthly fulfills the requirements for quarterly declaration and wishes to declare tax quarterly, the taxpayer shall submit a written request (Appendix I hereof) to the supervisory tax authority by January 31 of the year in which quarterly declaration is applied. If such a written request is not submitted by this deadline, the taxpayer shall keep declaring tax monthly throughout the calendar year.
c) In case a taxpayer finds that the requirements for quarterly declaration are not fulfilled, the taxpayer shall declare tax monthly from the first month of the next quarter. In this case, the taxpayer is not required to submit tax declaration dossiers of the previous quarters. However, the taxpayer shall submit a document specifying the difference between monthly declared tax and quarterly declared tax (Appendix I hereof) and pay the late payment interest as per regulations.
d) In case the tax authority finds that a taxpayer is not eligible to declare tax quarterly, the tax authority shall determine the difference between monthly declared tax and quarterly declared tax and charge late payment interest (if any) as per regulations and the taxpayer shall declare tax monthly from the receipt of the tax authority’s notice.
As regulations above, in case a taxpayer who is declaring tax monthly fulfills the requirements for quarterly declaration and wishes to declare tax quarterly, the taxpayer shall:
- Submit a written request (Appendix I hereof) to the supervisory tax authority;
- Submit the written request by January 31 of the year in which quarterly declaration is applied.
If such a written request is not submitted by this deadline, the taxpayer shall keep declaring tax monthly throughout the calendar year.
How to change from declaring tax monthly to declaring tax quarterly in Vietnam in 2024? - image from internet
What is the deadline for submission of tax declaration dossiers of taxes declared quarterly in Vietnam in 2024?
Pursuant to Clause 1 Article 44 of the Law on Tax Administration in 2019 stipulating the deadline for submission of tax declaration dossiers of taxes declared quarterly in Vietnam:
Deadlines for submission of tax declaration dossiers
1. Deadlines for submission of tax declaration dossiers of taxes declared monthly and quarterly:
a) For taxes declared monthly: the 20th of the month succeeding the month in which tax is incurred;
b) For taxes declared quarterly: the last day of the first month of the succeeding quarter.
2. For taxes declared annually:
a) For annual tax statement dossiers: the last day of the 3rd month from the end of the calendar year or fiscal year. For annual tax declaration dossiers: the last day of the first month from the end of the calendar year or fiscal year
b) For annual personal income tax statements prepared by income earners: the last day of the 4th month from the end of the calendar year;
c) For presumptive tax declarations prepared by household businesses and individual businesses: the 15th of December of the preceding year. For new household businesses and individual businesses: within 10 days from the date of commencement of the business.
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As regulations above, the deadline for submission of tax declaration dossiers in 2024 is as follows:
- The deadline for submission of tax declaration dossiers in first quarter in 2024: by the end of 02/5/2024.
According to the regulations, the deadline for submission of tax declaration dossiers in first quarter in 2024 will be April 30, 2024. However, April 30, 2024, and May 1, 2024, are national holidays according to the Labor Code in 2019. Therefore, the deadline for submitting the tax declaration dossiers in the first quarter in 2024 will be May 2, 2024.
- The deadline for submission of tax declaration dossiers in second quarter in 2024: by the end of 31/7/2024.
- The deadline for submission of tax declaration dossiers in third quarter in 2024: by the end of 31/10/2024.
- The deadline for submission of tax declaration dossiers in fourth quarter in 2024: by the end of 31/01/2025.
What documents are included in the tax declaration dossier in Vietnam?
Pursuant to Article 43 of the Law on Tax Administration in 2019 stipulating tax declaration dossier in Vietnam:
Tax declaration
1. The tax declaration dossier of taxes that are declared and paid monthly is the monthly tax return.
2. The tax declaration dossier of taxes that are declared and paid quarterly is the quarterly tax return.
3. The tax declaration dossier of taxes that are declared and paid annually is:
a) The annual tax declaration dossier, which consists of the annual tax return and other documents relevant to the tax payable; or
b) The terminal tax declaration dossier, which consists of the annual tax statement, the annual financial statement, the declaration of related-party transactions and other documents relevant to tax statement.
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As regulations above, the tax declaration dossier of taxes that are declared and paid quarterly is the quarterly tax return.
Best regards!
