Tax reporting
Periodic tax reporting
Report by tax type
Support declaration
Annual tax settlement
Deadline for submitting annual tax settlement
As prescribed in Tax Administration Law 2019 and Circular 80/2021/TT-BTCEnterprises must make annual tax settlement for corporate income tax (CIT) and personal income tax (PIT) no later than 90 days from the end of the calendar year or fiscal year.
In case the fiscal year coincides with the calendar year, the deadline for submitting the final settlement dossier will be March 31 of the following year. If the fiscal year is different from the calendar year, the submission deadline is 90 days from the end of that fiscal year.
For resident individuals with income from salaries and wages subject to self-settlement, the deadline is also 90 days from the end of the calendar year.
Late submission of tax settlement documents will be subject to penalties according to regulations at Decree 125/2020/ND-CP, including penalties for false declaration, late filing and late payment of taxes.
Types of annual tax settlement
1. Corporate income tax (CIT) settlement
All businesses are operating in production and business. taxable income must be done Annual corporate income tax settlement.
The declaration of use is Form 03/TNDN issued according to Circular 80/2021/TT-BTC.
Businesses must determine total revenue, deductible expenses, taxable income and tax payable or refunded.
Deadline for submission is 90 days from the end of the fiscal year.
2. Personal income tax settlement
Businesses that pay income from wages, salaries for workers must do Personal income tax settlement on behalf of employees, except in cases where individuals make their own settlements.
The declaration of use is Form 05/QTT-TNCN and appendix.
The deadline is also 90 days. from the end of the calendar year.
3. Foreign contractor tax settlement
In case the business signs long-term contracts with foreign organizations and individuals lasting over many periods, the contractor tax settlement can be done on end of contract or according to fiscal year if there is a specific agreement.
The settlement will be redetermination of all VAT and CIT obligations incurred for each payment during the period.
4. Settlement of special taxes
Some taxes such as resource tax, environmental protection tax, excise tax… usually reported monthly but can be Check and review in annual tax settlement if required by tax authorities.
Businesses must full record keeping demonstrate the validity of Tax liability declared during the year.
Monthly tax declaration and submission process
Step 1: Review accounting data and tax obligations
Enterprises need to review all accounting data in the fiscal year, including revenue, legitimate and reasonable expenses, taxable income and income exempted, reduced or preferential tax if any. Reviewing data carefully helps to limit errors and avoid being charged additional tax when the tax authority inspects.
Step 2: Collect and compare documents
Input and output invoices, payroll, personal income tax deductions, foreign contractor contracts and related documents need to be fully summarized. Enterprises should compare data on accounting software with reports declared during the year to ensure consistency.
Step 3: Prepare the final settlement declaration and attached appendix
Enterprises prepare corporate income tax finalization declarations according to form 03/TNDN, personal income tax according to form 05/QTT-TNCN, and attached appendices (if any). In case of contractor tax finalization or special tax, enterprises need to attach documents according to separate instructions.
Step 4: Declare and submit settlement documents via the electronic system
Enterprises log into the eTax system (thuedientu.gdt.gov.vn), select the tax settlement function and submit the declaration with appendixes in XML format. The dossier must be digitally signed and submitted no later than 90 days from the end of the fiscal year.
Step 5: Pay the remaining tax (if any)
After completing the settlement, if there is additional tax payable, the enterprise must immediately transfer the money to the tax authority to avoid late payment penalties. If there is excess tax paid, it can be refunded or offset in the next period.
Step 6: Keep records and be ready to explain
All settlement records, spreadsheets, appendices and tax payment documents must be stored for at least 10 years as prescribed. Enterprises also need to prepare documents to explain if the tax authority inspects after settlement.