What are the fines for late filing of tax returns for the fourth quarter of 2023 in Vietnam?
What are the fines for late filing of tax returns for the fourth quarter of 2023 in Vietnam? Thank you!
Shall the tax return for the fourth quarter of 2023 in Vietnam be submitted before or after Lunar New Year holiday?
Pursuant to Clause 1 Article 44 of the Law on Tax Administration in 2019 stipulating deadlines for submission of tax return dossiers as follows:
Deadlines for submission of tax return dossiers
1. Deadlines for submission of tax return 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.
...
As regulations above, for the case of submitting tax returns quarterly, the deadline for submission will be no later than the last day of the month following the quarter in which the tax obligation arises.
The fourth quarter of 2023 is the last quarter of 2023 and ends on December 31, 2023. Therefore, the deadline for submission of the tax return for the fourth quarter of 2023 will be the last day of January 2024 (January 31, 2024).
However, according to Official Dispatch 8662/VPCP-KGVX in 2023, cadres, civil servants, public employees, and workers will have a 7-day Lunar New Year holiday from Thursday, February 8, 2024 to Wednesday, February 14, 2024.
At the same time, it is encouraged that businesses also implement the Lunar New Year holiday schedule similar to that of civil servants and public employees.
Therefore, the submission of the fourth quarter tax return for 2023 must be completed before the 2024 Lunar New Year holiday.
What are the fines for late filing of tax returns for the fourth quarter of 2023 in Vietnam? - Source: Internet
What are the fines for late filing of tax returns for the fourth quarter of 2023 in Vietnam?
Pursuant to Article 13 of the Decree 125/2020/NĐ-CP stipulating penalties for violations against regulations on time limits for submission of tax returns as follows:
The penalties for late submission of tax returns will be based on the number of days late, as follows:
[1] From 01 to 05 days after expiration of the prescribed time limits under mitigating circumstances: Cautions
[2] From 01 to 30 days after expiration of the prescribed time limits without mitigating circumstances: Fines ranging from VND 2,000,000 to VND 5,000,000
[3] From 31 to 60 days after expiration of the prescribed time limits: Fines ranging from VND 5,000,000 to VND 8,000,000
[4] Fines ranging from VND 8,000,000 to VND 15,000,000 shall be imposed for one of the following violations:
- Filing tax returns from 61 to 90 days after expiration of the prescribed time limits;
- Filing tax returns at least 91 days after expiration of the prescribed time limits if none of additional taxes is incurred;
- Failing to submit tax returns if none of additional taxes is incurred;
[5] More than 90 days after the prescribed deadline if such act results in additional taxes to be paid, and the taxpayer has fully paid taxes, deferred amounts into the state budget before the time of the tax authority’s announcement of the decision on tax inspection and examination, or before the time of the tax authority’s issuance of the report on the deferred submission of tax returns: Fines ranging from VND 15,000,000 to VND 25,000,000
What are cases of deadline extension in Vietnam?
Pursuant to Article 46 of the Law on Tax Administration in 2019 stipulating deadline extension as follows:
Deadline extension
1. In case a taxpayer is unable to submit the tax declaration dossier by the deadline due to a natural disaster, epidemic, fire or accident, the head of the supervisory tax authority will consider extending the deadline for submission.
2. The deadline shall be extended for up to 30 more days for monthly, quarterly, annual declarations and declaration upon tax incurrence; 60 more days for terminal tax declaration.
3. The taxpayer shall send a written request for deadline extension to the tax authority before the deadline, provide explanation and confirmation by the People’s Committee or police authority of the commune in which the event mentioned in Clause 1 of this Article occurred.
4. Within 03 working days from the day on which the taxpayer’s request is received, the tax authority shall inform the taxpayer in writing of whether such request is granted.
As regulations above, cases of deadline extension in Vietnam are as follows:
The taxpayer is unable to submit the tax declaration dossier by the deadline due to a natural disaster, epidemic, fire or accident.
The deadline shall be extended for up to 30 more days for quarterly declaration upon tax incurrence.
Best regards!
