The annual tax reporting is a regular activity of enterprises, often focusing on recording and synthesizing information about input VAT and output VAT invoices. This helps ensure accuracy and transparency in calculating taxes payable to tax administration agencies. In this article below, Viet An Law will present the regulation of the annual tax report in Vietnam.
Tax reporting is the process of declaring input VAT invoices, including costs arising from the purchase or use of services, as well as sales invoices that the enterprise itself issues for the purpose of output VAT.
Tax reporting is considered as an important bridge between enterprises and tax administration agencies, allowing this agency to grasp the financial performance of enterprises.
An annual tax reporting dossier includes 02 types:
| Dossier’s name | Documents | |
| Tax finalization dossier | Legal dossier of an enterprise | Enterprise registration, Investment Certificate (if any) |
| Citizen ID card, passport of legal representative | ||
| Company’s charter | ||
| Financial regulations and salary, bonus regulations of the company | ||
| Register the fixed asset depreciation method with the tax agency | ||
| Bank account registration results | ||
| Tax declaration dossier | VAT declaration | |
| Current tax and contractor tax declaration | ||
| List of invoices for goods and services purchased and sold | ||
| Notice of invoice issuance, invoice printing contract | ||
| Report on the invoice usage status | ||
| Financial report | ||
| Finalization of corporate income tax | ||
| Finalization of personal income tax | ||
| Dossier of salary, bonus, and leave | Employee’s dossier | |
| Labor contract | ||
| Appointment decisions and salary increase decisions | ||
| Timesheets | ||
| Table pay salaries | ||
| Register of family allowances | ||
| Commitment 02/CK-TNCN (if any) | ||
| Authorization letter for PIT finalization | ||
| Personal tax code registration for employees | ||
| Insurance notice table and insurance payment records | ||
| Dossier of the published debt | Economic input and output contracts | |
| Appendix of economic contracts | ||
| Records of debt reconciliation | ||
| Loan dossier | Loan contract | |
| Records of payment of loan principal and interest | ||
| Record of Accounting | Purchase and sale invoices | |
| Customs declaration, payment slip to the State Budget | ||
| Revenue and expenditure patterns | ||
| Import patterns | ||
| Export patterns | ||
| Other accounting patterns | ||
| List of purchasing goods without invoice 01/TNDN | ||
| Appendix book of the bank account | ||
| Dossier of accounting | Public diary book | |
| Cash fund book | ||
| Purchase diary book | ||
| Sales diary book | ||
| Ledger accounts: All arising accounts | ||
| Account detail book | ||
| Cash fund book | ||
| Bank deposit book (Details of each bank) | ||
| Fixed asset depreciation table | ||
| Allocation Table; prepaid expenses | ||
| Table of raw material standards | ||
| Project finalization estimate table | ||
| Detailed table of import and export goods | ||
| General and detailed accounts receivable book | ||
| General and detailed accounts payable book | ||
| Loan detail book | ||
| Financial report dossier | Tax finalization declarations | Corporate income tax finalization declaration |
| Personal income tax finalization declaration | ||
| Financial report | Balance sheet (Form B01-DN) | |
| Table of business results (Form B02-DN) | ||
| Cash flow table (based on form No. B03-DN) | ||
| Financial statement table (based on form B09-DN) | ||
According to the provisions of the Law on Tax Administration and related documents, the deadline for submitting tax reports is prescribed as follows:
Enterprises need to pay attention to ensure compliance with deadlines to avoid fines related to tax payments.
To prepare annual tax reports quickly and effectively, enterprises need to pay attention to the following issues:
| Behaviors | Remedial measures | Penalties | |
| Submit the tax declaration dossier later than 1 day – 5 days and there are extenuating circumstances. | Forced to pay the full amount of late tax payment to the State Budget in case the taxpayer is late in submitting tax declaration dossiers, leading to late tax payment. | Caution | |
| Submit the tax declaration dossier later than 1 day to 30 days | Fine from 2.000.000 VND to 5.000.000 VND | ||
| Submit the tax declaration dossier later than 31 to 60 days | Fine from 5.000.000 VND to 8.000.000 VND | ||
| Submit the tax declaration dossier later than 61 to 90 days | Fine from 8.000.000 VND to 15.000.000 VND | ||
| Submit the tax declaration dossier later than 91 days or more but not incurring any tax payable | |||
| Failure to submit the tax declaration dossier but no tax payable arises | Compulsory submission of tax declaration dossiers and appendixes attached to tax declaration dossiers | ||
| Failure to submit appendices according to regulations on the tax administration for enterprises with associated transactions along with CIT finalization dossiers | |||
| Submit the tax declaration dossier later than 90 days, arising in the tax amount must be submitted and the taxpayer has paid the full tax amount and late payment interest to the State Budget before the deadline that the tax agency announces the tax inspection decision or before the tax agency makes a record of the late submission of tax declaration dossiers. | Fine from 15.000.000 VND to 25.000.000 VND | ||
Note: Penalties will be doubled with enterprises.
When making tax reports, enterprises should pay attention to the following errors to avoid errors in the reporting process
Clients who need consulting on issues related to the regulation of the annual tax report in Vietnam, commercial and tax, please contact Viet An Tax Agent for the best support!
