To assist our Valued Clients and Members in conveniently tracking and completing work on schedule to avoid penalties, Thu Ky Luat respectfully sends Valued Clients and Members a summary of tasks that Personnel and Accountants need to complete in April 2020 as follows:
Article table of contents
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1. Report on Labour Fluctuations in March 2020
According to Clause 2 Article 16 of Circular 28/2015/TT-BLDTBXH, before the 3rd of each month, enterprises must notify the Employment Service Center where the office is located about the labour fluctuations at the unit, if any (calculated according to the solar calendar of the previous month from the reporting time).
Thus, before April 3, 2020, enterprises must complete the report on labour fluctuations of March 2020.
2. Report on Usage of Invoices in March 2020
According to the guidance in Article 27 of Circular 39/2014/TT-BTC and Clause 4 Article 5 of Circular 119/2014/TT-BTC and Section 10 of Official Dispatch 1839/TCT-CS, no later than April 20, 2020, enterprises must complete the report on the usage of invoices for March 2020 with the directly managing tax authority (even if invoices were not used during that period).
This monthly invoice usage report applies to the following entities:
- Enterprises using self-printed invoices, printed invoices having violations, are not allowed to use self-printed or printed invoices.- Enterprises assessed as having high tax risks and required to purchase invoices from tax authorities.
3. Report on the Usage of Self-Printed Deduction Vouchers
According to current regulations, quarterly, entities paying income using self-printed deduction vouchers on computers must report the usage of deduction vouchers to the tax authority where they registered to use the self-printed deduction vouchers no later than the 30th of the first month after the quarter.
Thus, no later than April 30, 2020, enterprises must complete the report on the usage of self-printed deduction vouchers on computers for the first quarter of 2020.
Legal Basis: Article 5 of Circular 37/2010/TT-BTC.
4. Provisional Payment of Corporate Income Tax for the First Quarter of 2020
According to current law, based on production and business results, enterprises must tentatively pay the corporate income tax for the quarter no later than the 30th day of the quarter following the quarter in which tax obligations arise.
For the first quarter of 2020, enterprises must tentatively pay the corporate income tax of this quarter no later than April 30, 2020. However, since the deadline coincides with holidays and weekends, it will be extended to May 4, 2020.
Note:
- For enterprises required to prepare quarterly financial statements according to the law (such as state-owned enterprises, listed companies on the stock exchange, and other cases as prescribed), the enterprise will determine the provisional corporate income tax based on the quarterly financial statements and tax regulations.- For enterprises not required to prepare quarterly financial statements, the enterprise will determine the provisional corporate income tax based on the previous year's tax and the projected production and business results for the year.
Legal Basis: Article 17 of Circular 151/2014/TT-BTC supplementing Article 12a after Article 12 of Circular 156/2013/TT-BTC.
5. Submission of Individual Income Tax Declaration for March 2020
According to Clause 3 Article 10 of Circular 156/2013/TT-BTC, if in the month the enterprise withholds personal income tax, it must submit the Individual Income Tax (IIT) return to the directly managing tax authority no later than the 20th of the following month. Thus, no later than April 20, 2020, enterprises must complete the submission of the IIT return for March 2020.
This regulation applies to enterprises that declare taxes on a monthly basis. If in the month the enterprise does not withhold IIT, there is no need to submit the monthly return for that month.
6. Submission of VAT Declaration for March 2020
According to Article 15 of Circular 151/2014/TT-BTC and Clause 3 Article 10 of Circular 156/2013/TT-BTC, enterprises with total sales revenue and service provision of the previous year exceeding VND 50 billion will declare Value Added Tax (VAT) on a monthly basis. The deadline for submitting the monthly tax declaration dossier is no later than the 20th of the following month in which the tax obligation arises. Thus, no later than April 20, 2020, these enterprises must complete the submission of the VAT return for March 2020.
7. Payment of Social Insurance, Health Insurance, Unemployment Insurance for April 2020
According to Clause 1 Article 7, Article 16, and Clause 1 Article 19 of Decision 595/QD-BHXH, monthly, no later than the last day of the month, enterprises must extract and pay compulsory Social Insurance, Health Insurance, Unemployment Insurance from the monthly salary fund of employees participating in compulsory social insurance, health insurance, unemployment insurance; simultaneously deduct from the monthly salary to pay compulsory social insurance, health insurance, unemployment insurance of each employee according to the prescribed rate, and transfer it to the specialized collection account of the social insurance agency at the bank or State Treasury.
Thus, no later than April 30, 2020, enterprises must complete the payment of Social Insurance, Health Insurance, Unemployment Insurance for April 2020 for the employees; however, April 30, 2020, is a holiday, so the deadline is extended to May 2, 2020.
8. Payment of Trade Union Fees
According to Clause 2 Article 6 of Decree 191/2013/ND-CP, enterprises must pay trade union fees monthly at the same time as paying compulsory social insurance for employees, the payment rate is 2% of the salary fund used as the basis for paying Social Insurance for employees. Thus, May 2, 2020, is also the deadline to pay this fee at the Accounting Department of the District, Commune Labor Federation where the enterprise is registered to conduct business.
Note, for enterprises currently facing difficulties due to Covid-19, the deadlines for the tasks mentioned above may change according to state policies. For details, see HERE.
Nguyen Trinh
