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SCHEDULE FOR SUBMITTING TAX REPORTS TO THE TAX AUTHORITY
Submitting tax reports is one of the crucial responsibilities of every business. Completing this task on time and in accordance with regulations helps businesses avoid legal risks. For each type of business entity, there will be different deadlines for submitting tax reports depending on each stage. Below, Siglaw provides the tax reporting schedule with the tax authorities so that businesses can clearly understand the deadline for submitting their tax reports.
Deadline for submitting tax reports to authorities
Household business
Currently, the law does not clearly stipulate the concept of business households, but in Clause 1, Article 79 of Decree 01/2021/ND-CP, it is stipulated: “A business household is registered by an individual or household members.” Sign up and be responsible with all your assets for the household’s business activities.
For business households, the business household owner must submit a tax report once a year, no later than December 15 of the year preceding the tax year according to the business household’s presumptive tax declaration, form No. 01/CNKD issued. together with Circular 92/2015/TT-BTC. Business households do not need to declare license tax, the tax amount paid by business households will be determined by the Tax Authority from the records and revenue of the business household.
Enterprise
For taxable entities that are businesses, there will be more types of tax reports that need to be submitted than business households such as value added tax, corporate income tax, personal income tax, etc. at each time of the year.
- Schedule for submitting monthly tax reports
According to regulations, businesses need to submit monthly tax reports before the 20th of the following month. This report includes information on sales, value added tax (VAT), corporate income tax, and personal income tax for businesses generating personal income tax of more than 50 million VND/year. monthly and other taxes depending on the business line. Submitting monthly tax reports requires accuracy and careful calculation to avoid being fined by tax authorities.
- Quarterly tax reports submission schedule
In addition to submitting monthly reports, businesses also need to submit quarterly tax reports before the 30th day of the following month after each business quarter. Quarterly tax reports will include personal income tax for businesses generating personal income tax of less than 50 million/month. This report also requires more detailed financial and accounting information and requires more careful preparation than monthly reports. Submitting tax reports on time and according to regulations helps businesses maintain good relationships and impressions with tax authorities and create provisions for legal risks.
- Annual tax reports submission schedule
At the end of each fiscal year, businesses need to submit annual tax reports before March 31 of the following year. This report will synthesize financial information, corporate income tax, personal income tax and other information related to the business situation in the past year. Careful preparation and timely submission of tax reports help businesses maintain reputation in the marketplace and with state agencies
Some note when submitting tax reports
- Enterprises that are entitled to tax deductions in the case of income from investment, commercial transfer, copyright of works, intellectual property, and prize winnings will submit a declaration according to form 03/KK-TNCN quarterly.
- If during the fiscal quarter, the business does not deduct personal income tax, it does not have to declare tax.
- Pursuant to Article 86 of Circular 80/2021/TT-BTC, if the deadline for submitting tax reports and paying taxes coincides with prescribed holidays, the deadline for submitting tax reports and taxes is calculated on the working day. next job after that day off.
In addition, businesses also need to pay attention to notices from tax authorities to adjust reporting schedules when there are changes in regulations or deadlines. At the same time, using professional accounting software will help businesses automate the tax reporting process, reduce errors and save time.
By complying with the tax reporting schedule with tax authorities, businesses not only ensure compliance with the law but also build reputation with tax authorities and business partners. This also helps businesses avoid unnecessary risks and focus on their own business operations more effectively.
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