Headlines 26/12/2021 18:53 CH

Regulations on domestic tax accounting documents are ready to take effect

Ngọc Duy

According to the Circular No. 111/2021/TT-BTC regarding guidance on accounting for domestic taxes, that is issued on December 14, 2021, content, methods for preparation and signing of tax accounting documents must conform to regulations laid down in the Accounting Law to ensure that they contain all information required as per clause 2 of Article 12 in the Circular No. 111/2021/TT-BTC

Tax accounting documents reflecting the amounts to be collected, already collected, the residual amounts to be collected; the amounts to be refunded, already refunded, the residual amounts to be refunded; amounts of debt discharge, reduction, relief or write-off, are prepared in the following cases:

+ The tax authority needs to adjust the state budget collection data upon the request of the state treasury or the competent regulatory authority, and such adjustment only affects tax accounting data without prejudice to tax obligations of taxpayers in the subsystem for management of obligations of taxpayers.

+ There are any changes in policies that result in any adjustments in tax accounting data without prejudice to tax obligations of taxpayers.

The list, samples and methods of preparation of tax accounting documents are specified in Appendix II to the Circular No. 111/2021.

Circular No. 111/2021/TT-BTC is entering into force as from July 1, 2022, applied to the 2022 tax period and replaces the Decision No. 1544/QD-BTC dated July 7, 2014 and the Decision No. 630/QD-BTC dated April 9, 2015.

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