Legal Counselling

Vietnam: Provisional payment of corporate income tax shall be made in the quarter within 30 days of quarter succeeding the quarter in which tax is incurred

17:30, 05/10/2014

The Government of Vietnam issued Decree No. 91/2014/NĐ-CP on amendments to certain articles of Decree No. 83/2013/NĐ-CP dated July 22, 2013 of Vietnam’s Government on guidance on the Law on Tax administration and the Law on the amendments to the Law on Tax Administration.

According to the business result, the taxpayer shall make the provisional payment of corporate income tax in the quarter within 30 days of the quarter succeeding the quarter in which tax is incurred. Specifically, according to Clause 6 Article 4 of Decree No. 91/2014/NĐ-CP of Vietnam’s Government:

thoi diem nop thue thu nhap doanh nghiep, Nghi dinh 91/2014/NĐ-CP

- Every business that makes financial statements quarterly shall determine the provisional amount of corporate income tax in each quarter according to quarterly financial statements and regulations of law on taxation.

- Every business that is not required to make financial statements quarterly shall determine the provisional amount of corporate income tax in each quarter according to the amount of corporate income tax of the previous year and estimated business result in that year.

If the total of four provisional tax payments is smaller than the amount payable according to the financial statement by 20% or more, the taxpayer shall incur an interest on the amount that exceeds the 20% difference.

Besides, taxpayers shall pay tax, late payment interest, and fines to the state budget via credit institutions, according to the Law on Credit institutions, and other service providers; at State Treasuries; at tax authorities.

View more details at Decree No. 91/2014/NĐ-CP of Vietnam’s Government, effective from November 15, 2014.

Thu Ba

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