Increasing electronic tax declaration and reducing tax finalization at Tax agencies

VCN- On the afternoon March 3, 2017, the General Department of Taxation held a press conference on tax finalization for Corporate Income Tax (CIT) and the Personal Income Tax (PIT).
increasing electronic tax declaration and reducing tax finalization at tax agencies

The General Department of Taxation directed the localities to implement tax finalization and guide and support people and businesses to fulfill their obligations for the State budget. Photo TL.

Expanding the scope of authorization for submitting Personal income tax finalization

According to Mr. Cao Anh Tuan, the Deputy Director General of the General Department of Taxation, in recent years the tax finalization has become familiar, especially in the last 2 years. If in previous years, at the end of March the people and businesses often went to the Tax authority’s headquarters in large numbers to implement tax finalization causing difficulties for tax finalization, but in the last 2 years, this is no longer the case, because the guidance of the General Department of Taxation and the Tax Departments has been regularly implemented to support and facilitate for tax payers to implement the tax finalization easily.

According to the representatives of the General Department of Taxation, the subjects of Personal Income Tax finalization are residents who pay additional tax for their incomes from salary, wages, or residents who overpay tax and want tax refund or tax offset for the following period. For the case of overpaid tax and request for tax refund, individuals can submit dossiers at any time in the year (even after March 31, 2017) without penalties. For individuals and enterprises who must pay additional tax, if they delay to submit the dossier of tax finalization after March 31, 2017, they may be sanctioned on administrative violations with different levels, the highest level is 5 million vnd. Specifically, if individuals or businesses are obliged to implement tax finalization, but delay to submit the dossiers from 1 to 5 days ( with extenuating circumstances), they will be warned. If they delay from 1 to 10 days, they will be fined from 400,000 vnd to 1 million vnd. The fine will be increased steadily according to the number of delayed payment days, over from 10 to 20 days, the fine is from 800,000 vnd to 2 million vnd. The highest level from over 40 to 90 days or more than 90 days without incurred amount of tax payable, the fine is from 2 million vnd to 5 million vnd.

A new point of the 2017 tax finalization is that the Tax authorities expand the scope of authorization for submission of Personal Income Tax finalization. Accordingly, individuals will authorize Tax finalization for payment units, and the Tax authorities have private plans to support and receive for enterprises with a large number of Personal Income Tax finalization dossiers. For individuals who have income from 2 places, they must implement Tax finalization by themselves, but in this year they can authorize their work places to implement tax finalization. This will help reduce the number of taxpayers directly submitting Tax dossiers at Tax offices.

Increasing electronic tax declaration and reducing tax finalization at Tax offices

Mr. Cao Anh Tuan said, currently the General Department of Taxation also upgraded the applications of supporting and handling tax finalization declarations to meet the new forms in Circular No. 92/2015/TT-BTC. According to figures approved by the Tax authority on the website: www.ttcnonline.com.vn, the number of individuals who directly implemented tax finalization in 2015 was 88,799 individuals; the total of individuals authorized organizations and individuals to implement tax finalization is more than 9 million individuals. Thus, the ratio of the number of individuals directly implementing tax finalization accounted for only 0.96%.

"Currently, over 99% of taxpayers implement e-declarations, and 95% of taxpayers implement e-tax payment, so tax finalization is very favorable . The e-declaration reduced the situation of tax payers to directly implement Tax finalization at Tax offices"- Mr. Tuan said.

Mr. Nguyen Duy Minh, the Deputy Director of PIT Management Department advised, taxpayers should implement the tax finalization early for faster tax refund if they overpay tax.

For how to not omit tax collection with singers and actors with high income and operating in many places, Mr. Tuan said, based on the tax code, the Tax authority will invite singers to verify income. If it is true that the singer has income in a company and the other events which have sufficient invoices and document, they will have to declare taxes.

increasing electronic tax declaration and reducing tax finalization at tax agencies Notices to implement 2016 CIT finalization

VCN - To continue to support taxpayers to implement 2016 Corporate Income Tax (CIT) finalization as prescribed, ...

In the previous time, the General Department of Taxation directed localties to implement tax finalization and guide and support people and businesses fulfill their obligations to the State budget. In particular, in the Hanoi Tax Department, corporations and enterprises which have a large number of people implementing tax finalization, the Tax Department will assign Tax officers to support and receive the dossier at the units.

Sharing of Tax administration for individuals who do business on Facebook, the representatives of the General Department of Taxation said, the tax collection for business operations through websites, including Facebook is entirely true and in line with the law. However, this is a new business model, so it is still a challenge for management of State agencies. The General Department of Vietnam Customs will coordinate with agencies such as the Ministry of Industry and Trade, Ministry of Information and Communications and Bank to manage. However, the management method will be based on people's interests and create the best conditions for people to implement their business and fulfill their tax obligations.

By Ngoc Linh/Hoang Loan

Related News

From January 1, 2025: 13 product codes increase export tax to 20%

From January 1, 2025: 13 product codes increase export tax to 20%

VCN - According to the Export Tariff (XK) issued with Decree 26/2023/ND-CP, from January 1, 2025, there will be 13 commodity codes with an export tax rate of 20%.
Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.
Achievements in revenue collection are a premise for breakthroughs in 2025

Achievements in revenue collection are a premise for breakthroughs in 2025

VCN – Motivated by great efforts and effective implementation of solutions, as of December 10 the total State revenue from imports and exports saw a year-on-year increase of 13.8% to VND397,861 billion, meeting 106.1% of the estimate. The revenue us estimated to reach VND420,000 billion, meeting 112 % of the estimate, up 13.9% over the same period in 2023. The achievements in 2024 are a premise for a breakthrough in revenue collection in 2025.
Enterprises face difficulties in tax refunds due to partners closing

Enterprises face difficulties in tax refunds due to partners closing

VCN - On December 13, at a dialogue conference on tax and customs policies and administrative procedures organized by the Ministry of Finance in coordination with the Vietnam Chamber of Commerce and Industry (VCCI), enterprises proposed solutions to many problems related to tax policies such as VAT refunds, tax declaration procedures, electronic invoices, etc.

Latest News

Vietnam gears up for potential inflation impact in 2025

Vietnam gears up for potential inflation impact in 2025

VCN - For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics. The goal is to proactively develop flexible strategies and solutions, enabling a swift response to any emerging challenges.
VN’s credit conditions in 2025 expected to be stable

VN’s credit conditions in 2025 expected to be stable

The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.
State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.

More News

Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Five solutions for developing stock market in 2025

Five solutions for developing stock market in 2025

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

VCN- On February 3, the first working day after the Tet holiday, Minister of Finance Nguyen Van Thang and the delegation visited and worked with the General Department of Vietnam Customs (GDVC).
The stock market after Tết 2025 presents both challenges and opportunities

The stock market after Tết 2025 presents both challenges and opportunities

Việt Nam’s stock market following the 2025 Lunar New Year (Tết Nguyên Đán) presents a complex landscape of risks and potential gains, driven by foreign capital inflows, economic resilience, and looming corporate bond maturity pressures, according to one securities expert.
Opportunities and challenges in Việt Nam

Opportunities and challenges in Việt Nam's crypto boom

Việt Nam boasts one of the most active investment communities in the cryptocurrency sector. However, protecting investors and promoting sustainable growth requires a robust legal framework.
Đà Nẵng aiming to become a regional financial centre before 2050

Đà Nẵng aiming to become a regional financial centre before 2050

The city is setting out goals to promote the development of the financial system in the 2021-30 period, striving for Đà Nẵng to become a regional financial centre in just 25 years.
Which investments to make in 2025?

Which investments to make in 2025?

Financial reports indicate a large amount of cash in the banking system at the end of 2024. Investors in 2025 will have plenty of choices of where to put their money, according to economists and financial analysts.
5 strategies for reallocating houses and land

5 strategies for reallocating houses and land

VCN - The rearrangement and disposal of public-owned houses and land have been officially regulated in Decree No. 03/2025/ND-CP (Decree No. 03), which has just been issued by the Government. According to Decree No. 03, there are five forms of rearrangement and disposal of houses and land.
Stock market expected to rebound positively after Tết holiday: expert

Stock market expected to rebound positively after Tết holiday: expert

Currently, the VN-Index is fluctuating within a wide range of 1,200 to 1,300 points. Without a decisive breakout in either direction, this level of liquidity remains typical.
Read More

Your care

Latest Most read
Vietnam gears up for potential inflation impact in 2025

Vietnam gears up for potential inflation impact in 2025

For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics.
VN’s credit conditions in 2025 expected to be stable

VN’s credit conditions in 2025 expected to be stable

The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.
State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trilli
Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN - The market maintained stability, good liquidity, discipline was improved, increasing transparency and sustainability.
Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Mobile Version