Details on Tax Filing Deadlines and Tax Reporting Schedule
1. Summary of Submission Deadlines
Below is a summary of the deadlines for submitting various types of tax returns, regardless of the specific year:
Tax/Report Type | Submission Deadline | Note |
License fee | Existing businesses: January 30 every year; New: January 1 every year after exemption. | Applicable for capital change, new branch. |
Value Added Tax (VAT) | Monthly: 20th of the following month; Quarterly: End of the first month of the following quarter. | Based on last year's revenue >50 billion VND. |
Personal Income Tax (PIT) – Enterprises | Monthly: 20th of the following month; Quarterly: End of the first month of the following quarter. | Similar to VAT, including deductions from employees. |
Personal Income Tax Settlement – Enterprise | No later than March 31 of next year. | |
Personal Income Tax Settlement – Individual | No later than March 30 of next year. | Applicable if there are multiple sources of income, inheritance, gifts. |
Corporate Income Tax (CIT) – Provisional payment | 30th of the first month of the following quarter, if any tax is payable. | No declaration required, e.g. April 30 for Q4. |
Corporate Income Tax – Finalization | No later than March 31 of next year. | For the fiscal year ending 31/12. |
Financial report | Usually within 90 days of the fiscal year, depending on the type of business. | According to Circular 200/2014/TT-BTC, 133/2016/TT-BTC. |
2. Tax Types and Deadlines
2.1. Business License Fee
- Regulations: As a rule, existing businesses must pay the business license fee no later than January 30th each year. Newly established businesses are exempted in the first year and must submit a declaration no later than January 1th of the following year, especially if there is a change in capital or opening a new branch.
- Legal Basis: Based on the Tax Administration Law 2019 and detailed instructions in Decree 126/2020/ND-CP
2.2. Value Added Tax (VAT)
- How to Determine the Reporting Period:
- Enterprises with previous year's revenue of over 50 billion VND or self-selected: ｄｅｃｌａｒｅ monthly, as prescribed in Decree 126/2020/ND-CP.
- Enterprises with previous year's revenue of 50 billion VND or less or newly established: ｄｅｃｌａｒｅ quarterly, as prescribed in Decree 126/2020/ND-CP.
- Submission Deadline:
- Monthly: By the 20th of the following month at the latest. For example, March tax is due by April 3.
- Quarterly: No later than the last day of the first month of the following quarter, for example, for the third quarter (July – September), submit before October 3.
- Note: A declaration must be submitted even if there is no revenue, as prescribed in Article 10 of Decree 126/2020/ND-CP.
2.3. Personal Income Tax (PIT)
- Enterprises Deducting Personal Income Tax:
- Similar to VAT, businesses with revenue of over 50 billion VND in the previous year ｄｅｃｌａｒｅ monthly, businesses with revenue of less than XNUMX billion VND or newly established businesses ｄｅｃｌａｒｅ quarterly.
- Submission deadline: 20th of the following month (monthly) or last day of the first month of the following quarter (quarterly), for example, August must be submitted before September 8, and Q20 must be submitted before October 9.
- Annual Personal Income Tax Finalization:
- Business: No later than March 31 of the following year, for example 3 settlement before March 2024, 31.
- Individual Self-Filing: No later than April 30 of the following year, applicable to cases with multiple sources of income, receiving inheritance, real estate gifts, or needing to ｄｅｃｌａｒｅ family deductions, according to the provisions of Article 4 of Decree 7/126/ND-CP.
- Tax Payment Deadline: The deadline for paying taxes usually coincides with the deadline for submitting tax returns. If there is tax payable, it must be paid in full.
2.4. Corporate Income Tax (CIT)
- Quarterly Provisional Payment: No need to submit a declaration, but if there is tax to be paid, it must be paid no later than the 30th of the first month of the following quarter, for example, for the first quarter (January-March), it must be paid before April 1. If April 1 is a holiday, it must be postponed to the next working day, such as May 3, 30.
- Annual Corporate Income Tax Finalization: No later than March 31 of the following year, for example 3 settlement before March 2024, 31.
2.5. Financial Reports
- The deadline for filing financial statements is usually within 90 days after the end of the fiscal year, depending on the type of business, according to Circular 200/2014/TT-BTC , and Circular 133/2016/TT-BTC.
3. Additional Notes and Instructions
- If the due date falls on a holiday (such as April 30 or May 4), it will be moved to the next working day, for example May 1, 5 if April 5 is a holiday.
- The deadline for paying taxes usually coincides with the deadline for submitting tax returns. If there is tax payable, it must be paid in full.
- To ensure accuracy, especially with legal changes, it is advisable to check further at General Department of Taxation or consult a tax professional, as there may be recent updates not fully listed in the article.
- One notable point is that individuals who self-settle personal income tax may need to pay additional tax if there is a tax payable after settlement, with the deadline for payment being the same as April 30.
4. Conclusion
It is very important to clearly understand the schedule for submitting tax declarations and deadlines for paying personal income tax and finalizing personal income tax to avoid late fees. administrative fines, with the penalty from 2 million to 25 million VND depending on the level of delay, according to Decree 125/2020/ND-CP. Hopefully this article provides sufficient information to help readers fulfill their tax obligations on time and effectively.
