Corporate Income Tax Finalization Procedure

Corporate income tax finalization under the revenue-expense method serves as a mandatory administrative requirement for economic organizations at the fiscal year-end or upon dissolution. Proper legal documentation ensures compliance and mitigates risk. Long Phan Consulting Company analyzes the detailed steps and requirements below.

Competent Authority

The procedure for corporate income tax finalization under the revenue-expense method follows Subsection 29, Part II, Decision No. 3078/QD-BTC (2025). Jurisdiction depends on business scale and type.

The Provincial Tax Department manages large enterprises, foreign-invested enterprises (FDI), and provincial-level dependent accounting units. This authority receives dossiers, verifies completeness, and processes data on the centralized tax management system. Local Tax Departments (District level) typically manage small and medium-sized enterprises (SMEs), cooperatives, and other economic organizations.

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Dossier Preparation Requirements

Taxpayers must collect and perfect all documentation before submission to prevent rejection. The dossier components strictly follow legal standards.

Required Documents:

• Corporate Income Tax Finalization Declaration (Form No. 03/TNDN, Circular No. 80/2021/TT-BTC).

• Annual Financial Statements or statements up to the dissolution/termination date (per accounting and independent audit laws).

• Appendices regarding business results, loss transfer, or tax incentives (Form No. 03-1A/TNDN through 03-9/TNDN).

• Overseas Investment Documents: Taxpayers with foreign projects must submit the overseas income tax declaration and tax payment receipts (certified by the taxpayer or foreign tax authority).

• Related Party Transaction Documents: Taxpayers subject to Decree No. 132/2020/ND-CP must submit Appendices I, II, III, and IV regarding transfer pricing and global profit reporting.

Global Profit Reporting (Country-by-Country Report): Ultimate Parent Companies in Vietnam with global consolidated revenue of VND 18,000 billion or more must submit the report within 12 months of the fiscal year-end. Vietnamese subsidiaries of foreign Ultimate Parent Companies have specific submission or notification obligations based on international tax agreements and automatic information exchange mechanisms.

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Implementation Steps

Decision No. 3078/QD-BTC (2025) standardizes the corporate income tax finalization process. This ensures transparency and digital convenience.

Step 1: Calculation and Declaration Taxpayers calculate tax liability using the revenue-expense method. Submission deadlines fall on the last day of the third month following the fiscal year-end. For dissolution or termination, the deadline is the 45th day from the decision date.

• Enterprises submit filings electronically via the Provincial Tax Portal, National Public Service Portal, or T-VAN service providers.

• Electronic signatures verify the validity of the digital dossier.

• Quarterly provisional payments must be made by the 30th of the first month of the following quarter.

Step 2: Receipt and Processing

• Physical Submission: Tax authorities receive dossiers directly or via post.

• Electronic Submission: The system sends a receipt notification within 15 minutes. An acceptance or rejection notice follows within 01 working day.

Cost Analysis

Current regulations regarding corporate income tax finalization prioritize transparency.

Administrative Fees: Per Decision No. 3078/QD-BTC, taxpayers pay no administrative fees for this procedure. This applies to in-person, postal, and electronic submissions.

Operational Costs: Enterprises must budget for operational expenses. These include digital signature (Token) maintenance and T-VAN service fees. Large enterprises or FDI entities should allocate funds for financial statement audits and transfer pricing consulting to minimize tax imposition risks.

Common Inquiries

Submission Deadlines

The standard deadline is the last day of the third month following the end of the calendar or fiscal year. Dissolution cases require submission within 45 days of the decision.

FDI Enterprise Jurisdiction

Provincial or Central-affiliated City Tax Departments manage enterprises with foreign investment. These bodies handle centralized data processing.

Dossier Components

A complete file includes Form 03/TNDN, Annual Financial Statements, and relevant appendices (business results, loss transfer, related party transactions).

Fee Regulations

No state administrative fees apply to this procedure.

Electronic Notification Timeline

Tax authorities issue acceptance or rejection notices within 01 working day of the electronic receipt date.

Conclusion

Complying with the regulations on corporate income tax finalization under the revenue–expense method provides a solid foundation for sustainable and transparent business development. Long Phan Consulting is always ready to accompany clients in resolving difficulties and optimizing tax compliance procedures. For dedicated and timely professional support, please contact us via our Hotline at 1900636389.