There is a Circular guiding domestic tax professional accounting

There is a Circular guiding domestic tax professional accounting
Bảo Ngọc

On December 14, 2021, the Ministry of Finance issued Circular 111/2021/TT-BTC guiding domestic tax professional accounting.

Accordingly, regulations on accounting principles for tax accounting by period are as follows:

- Tax accounting date is determined to be the date of recording in tax accounting books into the tax accounting module.

- The date of collection of input information of the tax accountant must comply with the principle that the tax administration operation occurs on the day of the tax administration operation or at the latest the next day following the day on which the tax administration operation arises.

Except for statutory holidays, the date of information collection is the next working day of that holiday.

- If during the preparation of the tax accounting report, adjustments to tax administration operations that have been accounted for in the previous year's tax accounting period, if made before the closing time of the tax accounting period, are accounted for. adjusted to the tax accounting period of the previous year and determined by the accounting year information specified in Clause 1, Article 8 of Circular 111/2021 .

- After the closing time of the tax accounting period, the adjustment of data of the previous year's tax accounting period may only be made at the request of a competent state agency and in accordance with other regulations.

Circular 111/2021/TT-BTC takes effect from July 1, 2022, applies from the tax accounting period of 2022 and replaces Decision 1544/QD-BTC ; Decision 630/QD-BTC.

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