Recently, the Minister of Finance issued Circular 69/2020/TT-BTC on applications and procedures for debt settlement in Vietnam in accordance with Resolution 94/2019/QH14.
What are the cases of cancellation of tax debt charge-off and cancellation of late payment fine and interest write-off in Vietnam? (Internet image)
Article 18 of Circular 69/2020/TT-BTC stipulates cases of cancellation of tax debt charge-off and cancellation of late payment fine and interest write-off including:
- The tax authority finds that the procedures for charge-off or write-off of the debt which has been charged off or written off was carried out against the Resolution 94/2019/QH14.
- The taxpayer whose debt has been charged off or written off resumes the business, except for entities eligible for debt write-off prescribed in clauses 6 and 7 Article 4 of the Resolution 94/2019/QH14.
- The individual, self-employed individual, or representative of household, the head of household business, sole proprietor, the head of single-member limited liability company owned by individual of the taxpayer whose debt has been charged off or written off establishes a new enterprise or business entity, except for entities eligible for debt write-off prescribed in clauses 6 and 7 Article 4 of the Resolution 94/2019/QH14.
More details can be found in Circular 69/2020/TT-BTC, which comes into force from July 1, 2020.
Thuy Tram
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