Bring Tax Administration Law into practice
The Tax Administration Law No.38/2019/QH14 will take effect from July 1. Photo: T.L |
Many contents are supplemented
Luu Duc Huy, Director of the Policy Department (under the General Department of Taxation), said that to put the law into practice, the Ministry of Finance will develop five decrees and eight circulars. The General Department of Taxation and General Department of Vietnam Customs wereassigned by the Ministry of Finance to develop these contents, of which the General Department of Taxation will develop four decrees and the General Department of Vietnam Customs will develop one decree.
“Currently, the General Department of Taxation has perfected the draft guiding decrees that are submitted by the Ministry of Finance to the Government for consideration and promulgation, including the draft decree stipulating a number of articles of the Tax Administration Law and the decree on invoice and document. In addition, the remaining decrees and circulars have been implemented steps according to the provisions of the Law on Promulgation of Legal Documents,” Huy said.
Some outstanding contents in the Tax Administration Law No.38 have beensupplemented compared to the current law such as the extending deadlines for submitting tax finalisation dossiers, expanding rights of taxpayers, specifying and further managing associated transactions.
Specifically, taxpayers shall have a variety of benefits such as being supported and guided the tax payment, provided information and documents to fulfill tax obligations and benefits; received documents related to tax obligations of agencies when conducting inspections and audits.
Taxpayers have the right to request tax authorities explain the tax calculation and tax assessment; request agencies and organisations to assess the quantity, quality and categories of import and export goods.
In addition, taxpayers have the right to keep confidential information, except for information that must be submitted to the State agencies or tax information must be publicisedper provisions of the law.
The law also supplements prohibited acts in tax administration compared to the current law like concluding, engaging, covering between taxpayers and tax officials, tax administration authorities to transfer prices, evade tax; selling goods and providing services without invoices, using illegal invoice and illegally using invoices; obstructing tax officials from performing their duties; deliberately failing to declare or declaring tax inadequately, promptly and accurately forpayable tax amounts.
The use of e-invoicing is mandatory from July 1, 2022
Regarding e-invoices, Huy said that as per provisions of the Tax Administration Law No.38, this content will take effect from July 1. However, the General Department of Taxation also encourages agencies, organisations and individuals for using e-invoicesto use e-invoices and e- documents before July 1, 2022.
Accordingly, the Law on Tax Administration No. 38 provides when selling goods or providing services, the seller must make an e-invoice to deliver to the buyer in the standard data format prescribed by the tax authority and must fill contents according to the provisions of tax law andaccounting law, regardless of the value of each sale of goods or provision of services.
Enterprises and economic organisations must use electronic invoices with codes issued tax authorities when selling goods or providing services regardless of the value of each sale of goods or provision of services.
Business households and individuals that pay tax by the poll tax method and cases that can determine turnover when selling goods or services must use electronic invoices with codes issued by tax agencies when selling goods or providing services.
The General Department of Taxation noted if business households and individuals that do not meet the conditions to use electronic invoices with the codes of tax authorities but need e-invoices to deliver their customers or if enterprises, economic organisations and other organizations are accepted by e-tax authorities to issue electronic invoices to customers, shall be provided with e-invoice codes by tax authorities upon each transaction and must declare and pay tax before when the e-invoices are issued.
Related News
Ensure harmony of interests of “3 parties” when applying 5% VAT on fertilizers
08:54 | 30/10/2024 Regulations
Tax, fee, and land rent exemption, reduction, and deferral policies: a driving force for business recovery and growth
11:34 | 27/10/2024 Regulations
Applying tax on animal feed ingredient faces problems due to specialized regulations
10:17 | 21/10/2024 Regulations
How to handle export processing enterprises forgetting to open a corresponding import declaration
09:17 | 14/10/2024 Regulations
Latest News
M&A activities show signs of recovery
13:28 | 04/11/2024 Finance
Fiscal policy needs to return to normal state in new period
09:54 | 04/11/2024 Finance
Ensuring national public debt safety in 2024
17:33 | 03/11/2024 Finance
Removing many bottlenecks in regular spending to purchase assets and equipment
07:14 | 03/11/2024 Finance
More News
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance
Striving for average CPI not to exceed 4%
16:41 | 01/11/2024 Finance
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable
16:39 | 01/11/2024 Finance
Removing difficulties in public investment disbursement
09:30 | 31/10/2024 Finance
State-owned commercial banking sector performs optimistic growth, but more capital in need
09:28 | 31/10/2024 Finance
Stipulate implementation of centralized bilateral payments of the State Treasury at banks
09:29 | 29/10/2024 Finance
Rush to finalize draft decree on public asset restructuring
09:28 | 29/10/2024 Finance
Inspection report on gold trading activities being complied: SBV
14:37 | 28/10/2024 Finance
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%
10:45 | 28/10/2024 Finance
Your care
M&A activities show signs of recovery
13:28 | 04/11/2024 Finance
Fiscal policy needs to return to normal state in new period
09:54 | 04/11/2024 Finance
Ensuring national public debt safety in 2024
17:33 | 03/11/2024 Finance
Removing many bottlenecks in regular spending to purchase assets and equipment
07:14 | 03/11/2024 Finance
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance