Vietnam: Procedures for tax payment and collection at counters of non-coordinating banks

According to Circular No. 84/2016/TT-BTC of the Ministry of Finance of Vietnam, procedures for tax payment and collection at counters of non-coordinating banks are prescribed as follows:

- The taxpayer shall make a deposit slip provided by the bank with sufficient information about the taxpayer (name, TIN), the receiving State Treasury agency (names of the State Treasury agency, revenue, and collecting bank), the State budget revenue in detail.

- The bank shall check the balance of the account from which a sum of money is debited for the tax payment purpose or the sum of money paid directly in cash. If the sum of money is sufficient for the tax payment purpose, the bank shall debit the account or collect the sum of money in cash, complete the tax payment receipt and issue 01 (one) copy of deposit slip to the taxpayer. The deposit slip issued to the taxpayer must contain adequate taxpayer’s information indicated in the tax declaration; payment date; signatures and full names of the persons making and approving the tax payment receipt.

- If the sum of money in the account or in cash is smaller than the sum of money indicated in the tax declaration, the bank shall request the taxpayer to make another tax declaration with the sum of money equivalent to its/his/her existing sum of money in the account or in cash.

More details can be found in Circular No. 84/2016/TT-BTC of the Ministry of Finance of Vietnam, which takes effect from August 01, 2016.

-Thao Uyen-

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE