Vietnam: Taxpayer may submit supplementary documents if the tax declaration dossier is found erroneous

Specifically, according to Clause 4 Article 7 of the Decree No. 126/2020/NĐ-CP of Vietnam’s Government, the taxpayer may submit supplementary documents if the tax declaration dossier is found erroneous as prescribed in Article 47 of the Law on Tax Administration of Vietnam using the set form provided by the Minister of Finance. To be specific:

1. If the supplementation does not lead to a change in tax obligations, only a written explanation and relevant declaration is required while a supplementary tax return is not required.

- If the annual tax finalization dossier has not been submitted, the taxpayer shall provide supplementary tax documents of the erroneous month or quarter and include the rectification in the annual tax finalization dossier.

- If the annual tax finalization dossier has been submitted, only supplementation to the annual tax finalization dossier is required. In case of supplementation of the income payer’s terminal personal income tax return, the erroneous monthly or quarterly tax return shall also be supplemented.

2. If the supplementation leads to an increase in the amount of tax payable or decrease in the amount of refundable tax, the arrears or excessively refunded tax plus late payment interest (if any) shall be paid to the state budget.

If the supplementation only increases or decreases the deductible VAT which will be carried forward, it must be included in the current tax period. The taxpayer may only increase the refundable VAT if the tax declaration dossier of the next period and the application for tax refund is not submitted.

View more details at the Decree No. 126/2020/NĐ-CP of Vietnam’s Government, effective from December 05, 2020.

Ty Na

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