When is the deadline for submitting tax declarations for businesses?

The deadline for submitting tax declaration documents is one of the important regulations that businesses need to master to ensure legal compliance and avoid unnecessary risks. Filing tax returns on time not only demonstrates a business’s responsibility with tax obligations but also helps businesses maintain stable business operations. The article below by Long Phan will provide detailed information about tax declaration submission deadlines for businesses, and cases of extension.

What types of taxes are businesses required to declare?

According to Vietnamese law, businesses are obliged to declare and pay many different types of taxes, depending on the form of business, scale and industry. Some common taxes that businesses often meet include:

• Value Added Tax (VAT): This is a tax calculated on the added value of goods and services during the production and circulation process. Enterprises that produce and sell goods and services must declare and pay VAT.
• Corporate income tax (CIT): Corporate income tax is calculated on the taxable income of the enterprise, including income from production and business activities and other sources of income.
• Personal income tax (PIT): Enterprises are responsible for deducting and paying personal income tax for employees working at the enterprise.
• License tax: This is a tax that businesses must pay annually when registering their business. The license tax rate depends on the charter capital of the business.
• Other taxes: Depending on the business line, businesses may have to pay other taxes such as special consumption tax, natural resources tax, environmental protection tax,…

Determining the exact taxes that businesses must pay is the first step to fulfilling tax obligations fully and properly.

Deadline for submitting tax declarations for businesses

The deadline for submitting tax declarations is specifically specified in Article 44 Law on Tax Administration 2019. Based on the frequency of tax declaration, the tax declaration submission deadline is divided into the following cases:

Declare taxes monthly

Subjects of application: Applicable to taxes such as VAT, personal income tax (in case of monthly salary payment).

Payment deadline: No later than the 20th day of the month following the month in which the tax liability arises. For example, the deadline for submitting the October 2024 VAT return is November 20, 2024.

Note: If the 20th day of the month is a holiday, Saturday or Sunday, the submission deadline will be postponed to the next working day.

Tax declaration quarterly

Subjects of application: Applicable to provisional corporate income tax and personal income tax (in case of quarterly salary payment).

Payment deadline: No later than the 30th day of the first month of the quarter following the quarter in which tax obligations arise. For example, the deadline for submitting the provisional CIT return for the fourth quarter of 2024 is January 30, 2025.

Tax declaration by year

Subjects of application: Applicable to corporate income tax (tax finalization), license tax.

Submission deadline:

• For corporate income tax: No later than the last day of the 3rd month from the end of the fiscal year. For example, if the enterprise’s fiscal year ends on December 31, 2024, the deadline for submitting the 2024 CIT finalization declaration is March 31, 2025.
• For license tax: No later than January 30 of the following year. For example, the deadline for paying license tax in 2025 is January 30, 2025.

>>> See more: Latest license tax payment rates for businesses.

In case an enterprise is granted an extension of the tax payment deadline

According to Article 46 of the Law on Tax Administration 2019, businesses can extend the deadline for submitting tax declarations as follows:

• Enterprises that are unable to submit tax declarations on time due to natural disasters, fires, or unexpected enemy attacks will be directly extended by the head of the tax administration agency to submit tax declarations.
• The extension period is not more than 30 days for submitting monthly tax declarations, quarterly tax declarations, annual tax declarations, and tax declarations each time tax obligations arise; 60 days for submitting tax finalization declaration documents from the expiry date of tax declaration submission deadline.

Procedures for tax payment extension:

• Enterprises send applications for tax payment extension to the directly managing tax agency before the prescribed tax payment deadline.
• The application for tax payment extension must clearly state the reason for the extension and the expected extension time.
• Within 03 working days from the date of receipt of the request for extension of tax declaration submission, the tax authority must respond in writing to the taxpayer regarding whether or not to accept the extension of tax declaration submission.

Will businesses that do not declare taxes be punished?

Not declaring taxes or not declaring taxes on time is a violation of the law on tax administration. Violating enterprises may be subject to administrative sanctions as prescribed in Article 15 of Decree 125/2020/ND-CP. Specifically, businesses can be fined from 2,000,000 VND to 25,000,000 VND for failure to submit tax returns within the prescribed time limit.

In addition, businesses must also pay the full amount of late payment tax and late payment interest according to regulations. Late payment interest is calculated at 0.03%/day of the late tax amount, calculated from the day following the tax payment deadline to the date of full payment of tax to the state budget.

Therefore, businesses need to strictly comply with regulations on tax declaration submission deadlines to avoid legal risks and economic losses.

Tax declaration consulting service for businesses in Long Phan

With a team of experienced experts in the tax field, Long Phan provides professional and reputable tax declaration consulting services for businesses nationwide. Our services include:

• Consulting on determining tax obligations: Long Phan supports businesses in accurately determining the types of taxes payable, tax declaration frequency and tax declaration submission deadline.
• Consulting on preparing complete and accurate tax declaration documents in accordance with the law.
• Consulting on tax-related issues such as tax payment extension, overcoming consequences of tax law violations, tax exemptions,…
• Business representatives work with tax authorities.

Specific tasks that Long Phan will perform:

• Review the business’s operations to determine tax obligations.
• Guide businesses to collect and store accounting documents and invoices for tax declaration.
• Prepare VAT, personal income, and corporate income tax declarations according to regulations.
• Prepare financial reports and corporate income tax finalization.
• On behalf of the business, submit tax declaration documents online or directly at the tax office.
• Answer questions and advise businesses on tax-related issues.
• Business representatives work with tax authorities when required.

Long Phan is committed to providing customers with high quality consulting services, helping customers complete their tax obligations effectively and safely.

Understanding the tax declaration submission deadline is a prerequisite for businesses to comply with the law and ensure stable business operations. If you need assistance with tax-related issues, please contact Long Phan via the hotline 0906735386 for detailed advice.