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Business conditions to the quarterly tax declaration

Fri, 17 Feb 2017 18:06:46 PM GMT + 7    Print   Email   Share:

(Chinhphu.vn) - Quarterly tax declaration is applied to value-added tax (VAT) payers with total sales of goods and service of the preceding year from 50 billion or less ...

Binh Duong Tax Department guides the Vietnam SKM Ltd Co. (Tan Uyen Town, Binh Duong province) to declare the VAT and personal income tax (PIT) as follows:

About VAT declaration

In Article 15, Circular No. 151/2014 / TT-BTC dated 10/10/2014 on amending and supplementing Circular No. 156/2013 / TT-BTC of the Ministry of Finance prescribes:

"b) Quarterly VAT declaration

b.1) Subjects of quarterly VAT declaration

Quarterly tax declaration is applied to VAT payers with total sales of goods and service of the preceding year from VND 50 billion or less...

b.2) Quarterly tax period

- The implementation of quarterly or monthly tax declaration is stability in a full calendar year and be stable in 3-year cycle. Particularly in the first stable cycle, it is determined from the date 01/10/2014 to end on 31/12/2016.

- In the cycle of Monthly stable tax declaration, if taxpayers are self discovery, inspection or examination, tax authorities shall conclude the sales of the preceding year of this stable tax declaration cycle from 50 billion or less, taxpayers are eligible for the quarterly VAT declaration of that stable cycle, they shall be selected tax forms according to month or quarter from the following year of the adjacent year detected until the end of stability cycle.

- For companies that applied quarterly tax declaration before the effective date of this Circular, the implementation of the first stable cycle would be calculated until the end of the day 12/31/2016. "

Pursuant to the above provisions, the case if the company had a turnover of VND 50 billion in 2015 company would be subject to apply  the quarterly VAT declaration. Company would continue to declare quarterly stable VAT in 2016 until the end of 12.31.2016. From 2017, company shall redefine a new tax declaration cycle based on the revenue of 2016.

Regarding personal income tax (PIT) declaration

In Point a, Clause 1, Article 16 of Circular No. 156/2013 / TT-BTC dated 06/11/2013 of the Ministry of Finance regulates:

"A) Principles of tax declaration

a.1) Organizations and individuals who pay income arising PIT deduction, they shall implement declare monthly or quarterly tax declaration. In case of month or quarter, organizations and individuals who pay income not arising PIT deduction, they shall not have to implement the tax declaration.

a.2) The monthly or quarterly tax declaration is determined once since the first month arising tax deduction and be applied to the whole year. Concretely is as follows:

- Organizations and individuals who pay income arising amounts of monthly tax deduction of at least one type of PIT filing of return of at least 50 million shall apply monthly tax declaration, except the organizations and individuals who pay quarterly VAT declaration’s income.

- Organizations and individuals who pay income are not subject to the monthly tax declaration as the guidance above, they shall implement the quarterly tax declaration.

For Example 30: In 2014, Company A was determined to be quartely VAT declaration, it means Company A was subject to declare quarterly PIT in 2014 that not distinguishes Company A really arose PIT deduction over VND 50 million or less VND 50 million.

Pursuant to the above provisions, in case of 2016, the company was subject to Quarterly VAT declarations, Company would be subject to tax declaration of quarterly stable PIT until 12/31/2016.

However, in case the company implemented monthly PIT declaration, they would not be able to change to quarterly declaration.

  • By : Thanh Thuy (National competition)/Translator- Hai Yen /Bizic

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