Tax declaration service in Vietnam

During the operation of the business, one of the tasks that the business must perform in full and on time is tax declaration and tax payment (if any). In normal businesses, they must declare taxes and tax obligations quarterly, annually, and on a certain deadline. When a business is late in declaring taxes by even one day compared to regulations, the business is considered to be in violation of its tax declaration obligation and incurs a fine. The longer it is delayed, the higher the fine can be. closed tax code. In order to support the difficulties of businesses, Viet An Tax Agent provides comprehensive tax declaration services with reasonable service costs so that any business can use the Agent’s tax declaration services. Viet An tax with the most peace of mind and confidence to develop the most effective business activities.

Types of tax reports businesses must declare

• Value-added tax (VAT) declaration;
• Corporate income tax (CIT) finalization declaration;
• Personal income tax (PIT) declaration, specifically: Personal income tax deduction declaration (monthly or quarterly) and personal income tax finalization declaration (year);
• Report on invoice usage;
• License fee declaration;
• Annual financial reports;
• Specific types of tax declarations if the business has other related activities such as: special consumption tax, natural resources tax, import-export tax,…

Timelines for tax declaration and tax payment

Deadline for submitting declarations and paying value-added tax (if any), reporting on invoice usage)

Note: If an enterprise does not generate input or output invoices, the company still has to submit a VAT declaration and personal income tax declaration by the deadline if it generates income subject to personal income tax during the period:

• Quarter 1 declaration: Due no later than April 30;
• Quarter 2 declaration: Due no later than July 31;
• Quarter 3 declaration: Due no later than October 31;
• Quarter 4 declaration: Due no later than January 31 of the following year;

Report on invoice usage for the first quarter submitted no later than April 30; The second quarter must be paid no later than July 30, the third quarter must be paid no later than October 30, and the fourth quarter must be paid no later than January 30 of the following year.

Note for businesses that have submitted notices of invoice issuance, every quarter, organizations, households, and individuals selling goods and services (except those who are issued invoices by tax authorities) are responsible for submitting the Report Status of using invoices for direct tax authorities, including periods when invoices are not used.

Report on the use of invoices submitted monthly applies to subjects who are issued invoices by the tax authority or have high risks of invoices according to the tax authority’s decision.

According to Decree 52/2021/ND-CP extending the deadline for paying corporate income tax in 2021 for businesses with tax payable as follows:

• Extending the tax payment deadline for temporarily paid corporate income tax amounts of the first and second quarters of the 2021 corporate income tax period of the enterprise.
• The extension period is 03 months from the end of the corporate income tax payment deadline according to the provisions of the law on tax administration.

Enterprises self-balance the provisional corporate income tax rate and then at the end of the year synthesize revenue and expenses to finalize the total corporate income tax payable in the year (if any).

Deadline for submitting annual financial reports

Enterprises should note that even if the company does not conduct business activities, it still must prepare and submit financial reports for the year of operation. No later than the last day of the 3rd month from the end of the calendar year or fiscal year.

Deadline for submitting license tax and excise tax returns

License fee payers (except business households and individual businesses) are newly established (including small and medium-sized enterprises transferred from business households) or have established additional dependent units, business locations or When starting production and business activities, submit the license fee declaration no later than January 30 of the year following the year of establishment or commencement of production and business activities.

In case there is a change in capital during the year, the license fee payer shall submit the license fee declaration no later than January 30 of the year following the year in which the change information occurred.

Tax declaration service packages of Viet An Tax Agent

• Monthly tax declaration service package;
• Quarterly tax declaration service package;
• Tax declaration service package each time it arises;
• Declare year-end financial statements;
• Finalization of personal income tax;
• Contractor tax declaration;
• Full yearly tax declaration service package: Reasonable cost and comprehensive integration of all tax declaration activities of the business, completing books and documents, closing books and transferring them to the enterprise for storage;
• Tax declaration services according to business requirements.

Advantages when customers use Viet An’s tax declaration service

• Used in parallel with two services in one: legal consulting and tax declaration services, issues related to accounting activities;
• Have experts with good experience and professional qualifications take full charge of your business’s accounting and tax declaration activities;
• Be advised, informed, and anticipate arising problems and risks that may occur during the company’s accounting and tax declaration activities;
• Proactively remind businesses to prepare documents, balance tax estimates and report to businesses before the tax declaration period;
• There are no costs incurred after signing a tax declaration package contract with Viet An Tax Agent;
• Viet An tax agent is fully responsible for tax declaration and tax reporting of businesses when any risks arise for 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 declaration services is the optimal and effective solution, saving costs for tax accounting personnel. of business. Viet An tax agent believes that it is the best companion during business operations.

Some questions about tax declaration

What is the penalty for a company that is late in submitting tax declarations?

For acts of submitting tax declaration documents to the tax authority beyond the prescribed deadline, fines will be applied according to Article 13 of Decree 125/2020/ND-CP effective from December 5, 2020.

Does a newly established company with no invoices have to declare taxes?

During the period, even though the company does not generate output or input invoices, it still must declare taxes fully and on time.

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

Similar to the VAT declaration, reporting on the use of invoices (for companies that have issued VAT invoices), even if no revenue is generated, at the end of the fiscal year the company must still prepare a financial report and submit financial reports. The deadline for submission is the last day of the 3rd month from the end of the calendar year or fiscal year.

Without revenue, do I 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 fees) according to the company’s charter capital. The deadline for paying license tax is January 30 every year.

How is the license tax rate determined?

Company license tax must be paid based on the registered company charter capital as follows:

• Level 1, for organizations with charter capital or investment capital of over 10 billion VND: License fee is 3,000,000 VND/year;
• Level 2, for organizations with charter capital or investment capital of 10 billion VND or less: License fee is 2,000,000 VND/year;
• Level 3, for branches, representative offices, business locations, public service units, and other economic organizations: The license fee is 1,000,000 VND/year.

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