Preparing tax settlement documents is a crucial step in helping businesses accurately determine their financial obligations to the State. This is especially important in the context of increasingly stringent tax management regulations. Tax Administration Law No. 38/2019/QH14, Proactively reviewing documents is not only an obligation but also helps businesses protect their legitimate interests.
According to statistics, over 401 businesses were penalized during the inspection period due to incomplete documentation or discrepancies in accounting information. Properly preparing tax settlement documents helps accountants confidently explain the figures and assists business owners in clearly understanding the actual after-tax profit picture.
Common taxes that require tax settlement
Before delving into the details, businesses need to clearly identify the key types of taxes they face. Each tax has its own specific documentation requirements and deadlines according to current regulations.
Corporate Income Tax (CIT) Settlement
This is the most important tax, reflecting the business performance of the entity. Based on Circular 80/2021/TT-BTC, Businesses must aggregate all reasonable revenue and expenses to determine the amount. corporate income tax There is still more to be paid after the quarterly provisional payments have been made.
Personal Income Tax Settlement
The employer is responsible for settling accounts on behalf of employees who have authorized them to do so. This includes preparing the necessary documents. personal income tax settlement Absolute accuracy is required regarding tax identification numbers, personal deductions, and non-taxable allowances to ensure employee rights are protected.
Review the Value Added Tax (VAT)
Umbrella VAT While declarations are filed monthly or quarterly, at the end of the year, accountants need to conduct a comprehensive reconciliation between the general ledger (accounts 133, 3331) and the submitted declarations. This ensures consistency before finalizing the annual financial statements.
Detailed checklist for preparing expert-standard tax return documents.
To ensure a smooth audit process, tax settlement documents should be categorized into legal, accounting, and personnel groups.
| File group | Details of required documents | Important Note |
| Legal Documents | Business Registration Certificate, Company Charter, Financial Regulations | It must be the latest version if there are any changes. |
| Revenue Profile | Output invoices, economic contracts, acceptance reports | Match the figures on the VAT declaration form. |
| Expense File | Input invoices, Warehouse receipts, Payment vouchers | Please note that cashless payments exceeding 20 million VND are accepted. |
| Human Resources Profile | Employment contract, Payroll, Citizen Identification Card/Tax Identification Number | All employees' signatures are required. |
| Bank Profile | Bank statement, detailed statement | The 100% must match the balance in the ledger. |
Preparing tax return documents involves more than just gathering papers; it also includes checking the logical consistency between them. A purchase invoice must be accompanied by a contract, a warehouse receipt, and valid payment documents to be considered a deductible expense.
The 3-step process for preparing tax return documents.
Before filing tax returns, businesses need to prepare complete accounting records and documents to ensure accuracy and minimize risks during tax audits. A standardized process will help accountants review data, detect errors promptly, and complete the documentation in accordance with regulations. Below are three important steps to help businesses prepare tax returns effectively and professionally.
Step 1: Gather and organize original documents
Accountants should organize documents by time or by customer group. For electronic invoices, store XML and PDF files in separate folders for easy retrieval when tax authorities request an audit.
Step 2: Verify and correct errors
A thorough reconciliation between the detailed and summary ledgers is necessary. If any invoices are missing or incorrect, supplementary declarations should be filed before an official inspection decision is made to minimize unnecessary late payment penalties.
Step 3: Print and sign the books/records.
It is not advisable to wait until the inspection to print out accounting records. Having the general journal, ledger, and detailed ledgers ready and fully signed will demonstrate the transparency and professionalism of the business to the tax inspection team.
See more articles at: Year-end tax reporting services
Lessons learned when filing tax returns
Experience shows that well-prepared tax return documents reduce the risk of expense disallowance under the 70% scheme. Here are some tips from MAN experts:
- Contract management: All large expenditures require a legally binding contract with clear payment terms.
- Cashless payment: Invoices of 20 million VND or more must be transferred from the company's account to the seller's account.
- Overdue debts: A year-end reconciliation statement is required. Bad debts must have provisions for bad debts established in accordance with Circular 48/2019/TT-BTC.
- Salary record: Ensure that payroll records match final settlements. personal income tax and the social insurance declaration form to avoid having labor costs disallowed.
Conclude
Preparing tax return documents requires meticulous attention to detail, a thorough understanding of the law, and data processing skills. A perfect set of documents helps businesses pass audits smoothly, building strong trust with partners and banks.
In MAN – Master Accountant Network, We provide a professional service ecosystem to offer maximum support to businesses:
- Auditing In-depth financial reporting and tax audits.
- Tax accounting Complete service, dedicated support, and confidentiality.
- Tax Consulting and optimize the legal financial structure.
- Perform tax settlement and tax reporting precisely scheduled.
Contact MAN today for assistance in preparing your tax return documents professionally, allowing you to focus on sustainable business development.
Service contact information at MAN – Master Accountant Network
- Address: No. 19A, Street 43, Tan Thuan Ward, Ho Chi Minh City
- Mobile/Zalo: 0903 963 163 – 0903 428 622
- Email: man@man.net.vn
Content production by: Mr. Le Hoang Tuyen – Founder & CEO MAN – Master Accountant Network, Vietnamese CPA Auditor with over 30 years of experience in Accounting, Auditing and Financial Consulting.
Frequently Asked Questions about Preparing Tax Return Documents
You need to make a photocopy of the receipt from the seller, have it stamped and certified by them, and submit a letter of explanation to the tax authority directly responsible for your area.
The 15% limit is no longer in effect. However, when preparing tax return documents, you must provide proof of business-related expenses and have sufficient valid invoices. What should I do if I lose the original input invoice?
Is there a ceiling on entertainment expenses?
