Legal calendar for enterprises in Vietnam in February 2025

Legal calendar for enterprises in Vietnam in February 2025​ (Image from the internet)

1. Legal calendar for enterprises in Vietnam in February 2025

Throughout the year, the accountants and HR personnel of enterprises will be required to submit various periodic reports and declarations such as:

- Notification of labor fluctuation on a monthly basis (if any);

- VAT and PIT tax declarations on a monthly/quarterly basis;

- Corporate income tax finalization, personal income tax finalization...

Below are the timelines in the 2024 legal calendar for businesses that HR and accounting personnel need to be aware of for February 2025:

Note: If the deadline for submitting reports coincides with an official holiday, the last day of the deadline is considered the next working day immediately after the holiday.

Penalties for violations of tax declaration deadlines in Vietnam in 2024

Article 13 of Decree 125/2020/ND-CP stipulates the penalties for violations of tax declaration deadlines in 2024 as follows:

(1) Warning for late submission of tax declarations from 01 to 05 days with mitigating circumstances.

(2) A fine from 2,000,000 VND to 5,000,000 VND for late submission of tax declarations from 01 to 30 days, except as provided in (1).

(2) A fine from 5,000,000 VND to 8,000,000 VND for late submission of tax declarations from 31 to 60 days.

(3) A fine from 8,000,000 VND to 15,000,000 VND for one of the following actions:

- Late submission of tax declarations from 61 to 90 days;

- Late submission of tax declarations for over 91 days without resulting in tax payable;

- Not submitting tax declarations but no tax payable arises;

- Not submitting the appendices required under tax management regulations for enterprises with related-party transactions along with the corporate income tax finalization dossier.

(5) A fine from 15,000,000 VND to 25,000,000 VND for submitting tax declarations over 90 days late from the deadline, resulting in tax payable, and the taxpayer has paid the full tax amount and late payment fee into the state budget before the tax authority announces the tax inspection decision or before the tax authority makes a record of the late declaration as per Clause 11 Article 143 Law on Tax Administration 2019.

In cases where the fine under this clause exceeds the tax payable amount on the tax declarations, the maximum fine is equivalent to the tax payable amount on the declarations but not less than the average of the fine range specified in (4).

(6) Remedial Measures:

- Required full payment of overdue tax liabilities into the state budget for acts prescribed in (1), (2), (3), (4), and (5) where taxpayers are late in submitting tax declarations leading to late tax payment;

- Obligation to submit tax declarations and appendices accompanying the tax declarations for acts specified at Points c, d Clause 4 Article 13 Decree 125/2020/ND-CP.

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