Tax reporting services in Vietnam

After being granted an Enterprise Registration Certificate, even though businesses have not yet conducted business activities, they still have to fulfill their tax reporting obligations. In case, businesses do not submit tax reports (even if they are blank reports, meaning they do not have operational data), they will still be fined for late payment, or failure to submit tax reports, and may even have their tax code closed. Accordingly, to avoid having to recruit personnel for corporate tax reporting and tax accounting, businesses can choose a comprehensive tax reporting service at a reasonable cost, ensuring expertise, quality, and meeting their needs. operational needs of the business. Viet An tax agent is proud to be a provider of comprehensive tax reporting services for businesses with the best service quality, most reasonable prices, and most dedicated and enthusiastic working style.

Types of tax reports that businesses must submit

Periodic tax reports

• Value-added tax (VAT) reporting: done on a regular quarterly basis;
• Report on invoice usage (Quarterly);
• Personal income tax (PIT) report, specifically: Personal income tax deduction declaration (monthly or quarterly);
• Extend corporate income tax (if any).

Year-end tax report

• Annual financial reports;
• Personal income tax finalization declaration (year);
• Corporate income tax (CIT) finalization declaration.

Special tax reports

• Special consumption tax;
• Natural resources tax;
• Import-export tax.

Tax finalization

Normally, after 03-05 years of operation with revenue, the tax authority will require the enterprise to carry out tax finalization procedures for the previous years of operation.

Deadline for submitting tax reports

Deadline for submitting quarterly tax reports

• Quarter 1 tax report: The deadline is April 30;
• Quarter 2 tax report: The deadline is July 30th;
• Quarter 3 tax report: The deadline is October 30;
• Quarter 4 tax report: The deadline is January 30 of the following year;

Deadline for submitting annual tax reports

• Annual financial statements: Enterprises note that even if the company does not conduct business activities, it still has to prepare and submit financial statements for the year of operation. The latest deadline for submitting the previous year’s financial statements is March 30 of the following year.
• License tax declaration: If there is a change in the company’s charter capital during the year, the enterprise shall declare the license tax before January 30 of the year following the year in which the capital change occurs.

Deadline for paying annual taxes

Deadline for payment of value-added tax and provisional corporate income tax (if any)

• Quarter 1: Deadline is April 30;
• Quarter 2: Deadline is July 30;
• Quarter 3: Deadline is October 30;
• Quarter 4: Deadline is January 30 of the following year;

Deadline for paying license tax

If the business has no capital changes, it only has to pay license tax every year before January 30 without needing to submit a license tax declaration.

Extension of tax payment deadline for 2023

Extend the deadline for paying value-added tax (VAT) except value-added tax at the import stage

Decree 12/2023/ND-CP on extending the deadline for payment of value-added tax, corporate income tax, personal income tax, and land rent in 2023, effective from April 14, 2023, until December 31, 2023. Accordingly, extending the deadline for paying value-added tax in 2023 for businesses with payable tax amounts as follows:

Monthly and quarterly value-added tax payment deadlines are extended as follows:

• The deadline for paying value-added tax for the March 2023 tax period is October 20, 2023.
• The deadline for paying value-added tax for the April 2023 tax period is November 20, 2023.
• The deadline for paying value-added tax for the tax period in May 2023 is December 20, 2023.
• The deadline for paying value-added tax for the June 2023 tax period is December 20, 2023.
• The deadline for paying value-added tax for the tax period of July 2023 is December 20, 2023, at the latest.
• The deadline for paying value-added tax for the tax period of August 2023 is December 20, 2023.
• The deadline for paying value-added tax for the tax period of the first quarter of 2023 is October 31, 2023.
• The deadline for paying value-added tax for the tax period of the second quarter of 2023 is December 31, 2023.

In case an enterprise or organization has branches or affiliated units that declare value-added tax separately from the tax authority directly managing the branch or affiliated unit, the branches and affiliated units will are also eligible for extension of value-added tax payment.

Extending the deadline for paying corporate income tax in 2023

Decree 12/2023/ND-CP on extending the deadline for paying value-added tax, corporate income tax, personal income tax, and land rent in 2023 for businesses with tax liabilities submitted as follows:

• Extending the tax payment deadline for the enterprise’s temporarily paid corporate income tax amount of the 1st and 2nd quarters of the corporate income tax period of 2023.
• The extension is 03 months from the end of the time limit for paying corporate income tax in accordance with the law on tax administration.

Enterprises themselves balance the temporarily calculated corporate income tax rate and then at the end of the year sum up revenue and expenses to finalize the total amount of corporate income tax payable in the year (if any).

Benefits for customers using tax reporting services of Viet An Tax Agent

• Free use of two services in one: legal consulting and tax reporting services, issues related to accounting activities;
• Be advised, informed, and anticipate arising problems and risks that may occur during the company’s accounting and tax reporting activities;
• Proactively remind businesses to prepare documents, balance tax estimates, and report to businesses before the tax reporting period ;
• There are no costs incurred after signing the tax reporting package contract with Viet An Tax Agent;
• Be professionally and experienced experts in charge of comprehensive accounting and tax declaration activities of your business;
• Viet An tax agent is fully responsible for the tax declaration and tax reporting of the business when there is any risk to the business from tax declaration activities. Therefore, for businesses where the business owner is not knowledgeable about taxes and accounting, the solution of using tax reporting services is the optimal and effective solution, saving costs for tax accounting personnel of the business. Tax agent Viet An believes that to be the best companion in the process of business operation.
• Tax reporting service in Vietnam

Packages of tax reporting services in Vietnam of Viet An Tax Agent

• Monthly tax reporting service package;
• Quarterly tax reporting service package;
• Service package for tax reporting according to the time of arising;
• Declare reports annual tax;
• Finalization of personal income tax;
• Contractor tax declaration;
• Reporting service package by year: Reasonable cost and integrated package of all tax declaration activities of the business, completing books and documents, closing the business transfer book;
• Reporting services as required by businesses.

Some questions about tax reporting and declaration activities

How is the corporate income tax rate determined?

Except for special cases, from January 1, 2016, all businesses apply the 20% tax rate.

A newly established company does not generate revenue, do invoices have to be reported for tax?

Even though the company does not generate revenue and expenses, it does not have to pay taxes (except for license tax in the years after the first year of establishment), but the company still has to submit quarterly tax reports.

Does a company with no revenue at the end of the year have to submit a tax report?

Similar to the VAT declaration, the report on the use of invoices (for companies that have issued VAT invoices), even if no revenue is generated, the company must still make a tax report at the end of the fiscal year. and submit financial reports. The deadline for submission of previous annual tax reports is March 30 of the following year.

No revenue, does my company have to pay license tax?

After the first year of establishment, whether or not there is revenue, the company still has to pay license tax (business fee) according to the charter capital of the company. The deadline for paying license tax is January 30 of each year.

If you have any questions related to tax reporting services in Vietnam, please contact Tax Agent – Viet An Law Firm for the fastest and best support!