What are procedures for processing an application for exemption of late payment interest in Vietnam?

What are procedures for processing an application for exemption of late payment interest in Vietnam?

Pursuant to Clause 1, Article 23 of the Circular 80/2021/TT-BTC stipulating procedures for processing an application for exemption of late payment interest in Vietnam as follows: 

1. Procedures for processing an application for exemption of late payment interest in the cases specified in Clause 8 Article 59 of the Law on Tax Administration:

a) The taxpayer shall prepare the application for exemption of late payment interest and send it to the state budget revenue-managing tax authority.

b) In case the application for exemption of late payment interest is not satisfactory, within 03 working days from the receipt of the application, the tax authority shall send a notification to the taxpayer according to Form No. 01/TB-BSTT-NNT enclosed with Decree No. 126/2020/ND-CP and request the taxpayer to provide explanation or supplement the application.

In case the application for exemption of late payment interest is satisfactory, within 10 working days from the receipt of the application, the tax authority shall decide whether to send a notification of exempted late payment interest (Form No. 03/MTCN in Appendix I hereof) if the taxpayer is eligible, or send a notification of rejected application (Form No. 02/MTCN in Appendix I hereof) if the taxpayer is not eligible.

How to determine exempted late payment interest in Vietnam? 

Pursuant to Clause 3, Article 23 of the Circular 80/2021/TT-BTC stipulating determination of exempted late payment interest in Vietnam as follows: 

3. Determination of exempted late payment interest

a) In case of a natural disaster, epidemic, conflagration or accident mentioned in Point a Clause 27 Article 3 of the Law on Tax Administration, the exempted late payment interest shall be the unpaid late payment interest upon the occurrence of such event and must not exceed the physical damage minus compensation and insurance payout (if any).

b) In case of other force majeure events mentioned in Clause 1 Article 3 of Decree No. 126/2020/ND-CP, the exempted late payment interest shall be the unpaid late payment interest upon the occurrence of such event and must not exceed the physical damage minus compensation and insurance payout (if any).

Best regards!