TYPES of TAX REPORTS

The new Law on Tax Administration 38/2019 / QH 14, effective July 1, 2020, regulates the types of tax reports as well as the deadline for submitting tax reports. Businesses need to know clearly so that they do not have to be charged for late payment. Below, TASCO Tax Agent would like to provide information about the types of tax returns as well as the deadline for filing tax returns to assist your business.

TYPES OF TAX REPORTING TO PAY

1. VAT report:

VAT declaration form No. 01 / GTGT: DN applies tax deduction method

VAT declaration form No. 02 / GTGT: For investment projects

VAT declaration form No. 03 / GTGT: DN calculated by direct method on VAT

VAT declaration form No. 04 / GTGT: DN calculated by direct method on turnover.

2. PIT report:

Declaration form No. 05 / KK-TNCN: The enterprise pays income withholding tax for income from salary, money for tax declaration.
Declaration form No. 06 / TNCN: Enterprises pay income with a tax deduction for income from capital investment, from securities transfer, from copyright, from franchising, from winning prizes of individuals, ...
Form No. 01 / XSBHĐC: Lottery company, insurance company, multi-level marketing business withholding tax on commissions from being a lottery agent, insurance agent, multi-level marketing personal. (For the last monthly / quarterly tax return in the year, there must be an appendix made according to form No. 01-1 / BK-XSBHĐC).

Note: If the income paying organization or individual does not deduct personal income tax in a month or quarter, it is not required to declare PIT.

3. Report on the use of invoices:

- Make a report on the use of invoices according to the form BC26-AC submitted to the direct tax authority (including the period when invoices are not used).

4. Tax settlement:

👉BIT finalization declaration form No. 03 / TNDN (Enterprises temporarily calculate payable CIT amount if incurred and pay tax without submitting quarterly CIT return)

👉Form of PIT finalization declaration, made according to form No. 05 / KK-TNCN

👉Year financial statements.

Deadline for Filing the LATEST TYPES of TAX REPORT UNDER THE NEW TAX ADMINISTRATION LAW 38/2019 / QH14 Effective July 1, 2020.

1. Monthly tax return: By the 20th of the following month.

2. Quarterly tax return: No later than the last day of the first month of the following quarter (formerly the 30th).

3. Annual tax finalization declaration: No later than the last day of the third month from the end of the calendar year or fiscal year (previously 90 days from the end of the calendar year or fiscal year).

4. Annual tax declaration dossiers: No later than the last day of the first month of calendar year or fiscal year (formerly the 30th of the first month of calendar year).

5. Personal income tax (PIT) finalization dossiers for individuals directly settling: No later than the last day of the 4th month from the end of the calendar year (previously March 30).

If you need further advice, please contact TASCO Tax Agent Consulting Services Company Limited for a free consultation.

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