Legal Tasks Enterprises Must Undertake Immediately After the Ky Hoi Tet Festival 2019

1. Financial Report of Enterprises for the Year 2018

According to the guidelines in Article 109 of Circular 200/2014/TT-BTC, enterprises must submit their annual financial report no later than 90 days from the end of the fiscal year. Therefore, enterprises should be aware that they must complete this obligation by March 30, 2019.

To be specific:

- For state-owned enterprises: The accounting unit must submit the annual financial report no later than 30 days from the end of the fiscal period; for parent companies and state-owned general corporations, the deadline is 90 days.

- For other types of enterprises: The accounting unit of private enterprises and partnerships must submit the annual financial report no later than 30 days from the end of the fiscal period; for other accounting units, the deadline is 90 days.

2. Report on Labor Fluctuations in February 2019

According to labor law regulations, by the 3rd of each month, enterprises must report to the Employment Service Center where their workplace is located about any labor fluctuations at the unit if any (calculated by the previous Gregorian calendar month before the reporting date).

Thus, after the Tet holiday, specifically by March 3, 2019, enterprises must complete the report on labor fluctuations for February 2019.

This content is regulated according to Clause 2, Article 16 of Circular 28/2015/TT-BLDTBXH which took effect on September 15, 2015.

3. Report on the Usage of Invoices in January 2019

According to the guidelines in Article 27 of Circular 39/2014/TT-BTC and Clause 4, Article 5 of Circular 119/2014/TT-BTC and Section 10 Official Dispatch 1839/TCT-CS, monthly, enterprises are required to submit a report on the usage of invoices to the direct tax management agency (even if no invoices were used during the period) no later than the 20th of the following month. Therefore, no later than February 20, 2019, enterprises must complete the report on the usage of invoices for January 2019.

This reporting on the usage of invoices on a monthly basis applies to the following subjects:

- Enterprises using self-printed invoices, ordered invoices with violations not permitted to use self-printed, ordered invoices.- Enterprises classified as high tax risk entities purchasing invoices from tax authorities.

Note: The submission of the report on the usage of invoices on a monthly basis is implemented for 12 months from the date of establishment or from the date of being classified as purchasing invoices from the tax authorities. After this period, the tax authorities will review the reporting of invoice usage and tax declaration and payment status to notify the enterprise to switch to quarterly reporting on the usage of invoices. In the absence of notification from the tax authorities, the enterprise continues the monthly reporting on the usage of invoices.

4. Provisional Payment of Corporate Income Tax for Q1 2019

According to the provisions in Article 17 of Circular 151/2014/TT-BTC supplementing Article 12a after Article 12 of Circular 156/2013/TT-BTC, based on the production, business results, the enterprise must make a provisional payment of corporate income tax for the quarter no later than the 30th of the next quarter following the quarter in which the tax obligation arises.

For Q1 2019, enterprises must make a provisional payment of corporate income tax for this quarter no later than April 30, 2019. If before Tet, the enterprise has not made the provisional payment of corporate income tax, they must carry out this task after the Tet holiday. As the latest deadline coincides with the holiday, it will be extended to May 2, 2019.

In detail:

- For enterprises required to prepare quarterly financial reports according to the law (such as state-owned enterprises, listed companies on the stock exchange, and other cases as regulated), the enterprise bases its provisional corporate income tax payment on the quarterly financial reports and the tax regulations.- For enterprises not required to prepare quarterly financial reports, the enterprise bases its provisional corporate income tax payment on the previous year's corporate income tax and the projected business results for the year.

5. Submission of Personal Income Tax Declaration for January 2019

According to Clause 3, Article 10 of Circular 156/2013/TT-BTC, if an enterprise deducts personal income tax within a month, it must submit a Personal Income Tax declaration dossier to the direct tax management agency no later than the 20th of the following month. Therefore, no later than February 20, 2019, enterprises must complete the submission of the Personal Income Tax declaration dossier for January 2019.

This regulation applies to enterprises applying the monthly tax declaration. If the enterprise does not incur personal income tax withholding within the month, the monthly tax declaration is not required.

6. Submission of VAT Declaration for January 2019

According to Article 15 of Circular 151/2014/TT-BTC and Clause 3, Article 10 of Circular 156/2013/TT-BTC, enterprises with total revenue from selling goods and providing services of the preceding year exceeding 50 billion VND must declare VAT monthly. The deadline for submitting the monthly tax declaration dossier is no later than the 20th of the following month in which the tax obligation arises. Therefore, no later than February 20, 2019, these enterprises must complete the submission of the VAT declaration for January 2019.

7. Payment of Social Insurance, Health Insurance, Unemployment Insurance for February 2019

According to Clause 1, Article 7, Article 16, and Clause 1, Article 19 of Decision 595/QD-BHXH, monthly, no later than the last day of the month, enterprises must deduct compulsory Social Insurance, Health Insurance, Unemployment Insurance based on the monthly salary fund for participating employees; simultaneously deduct from the monthly salary of each employee to pay the compulsory Social Insurance, Health Insurance, Unemployment Insurance according to the stipulated rate and transfer the amount to the specialized account of the social insurance agency at a bank or State Treasury.

Thus, after the Tet holiday, no later than February 28, 2019, enterprises must complete the payment of Social Insurance, Health Insurance, Unemployment Insurance for February 2019 for employees.

8. Payment of Trade Union Fees

According to Clause 2, Article 6 of Decree 191/2013/ND-CP, enterprises must pay the Trade Union fee monthly at the same time as paying compulsory Social Insurance; the rate is 2% of the salary fund used as the basis for Social Insurance contributions for employees. Therefore, the deadline of February 28, 2019, is also the last day for paying this fee at the Accounting Department of the District, City Trade Union Federation where the enterprise is registered.

- Nguyen Trinh -

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