According to the Law, time limits for submission of tax returns with respect to types of taxation to be calculated at year-based interval as follows:
- The yearly tax finalization documentation must be submitted not later than the ending date of the third month from the end date of calendar year or fiscal year;
- PIT finalization documentation must be submitted in person by individual taxpayers not later than the end date of the fourth month from the end date of calendar year.
Accordingly, individual taxpayers submitting PIT finalization documentation in person can be granted extension of the submission deadline (90th day at the latest from the end date of calendar year or fiscal year as provided in existing regulations).
In addition, this Law contains several new important contents such as:
- Supplementing rights exercised by taxpayers (Article 16);
- Setting out new regulations on management of taxation with respect to electronically commercial activities (Clause 4 of Article 42);
- Revising authority to write off tax debts and monetary fines (Article 87),…
The 2019 Law on Taxation Management enters into force from July 1, 2020; in particular, regulations on electronic invoices and evidencing documents enter into force from July 1, 2022.
>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE
2.023