Taxation is a complex area that requires keeping up to date with the latest legislation. Hong Bang Law has many employees who are experts with long experience in the tax field, providing customers with quality and reliable services.

Therefore, we would like to send you some necessary information about the corporate income tax declaration procedures.

Legal basis

• Law on Corporate Income Tax 2008 (amended and supplemented 2013)
• Circular 156/2013/TT-BTC guiding the implementation of a number of articles of the Law on Tax Administration
• Circular No. 151/2014/TT-BTC guiding corporate income tax
• Circular 166/2013/TT-BTC guiding penalties for tax administrative violations

Corporate income tax

Corporate income tax (CIT) is levied directly on the income of an organization or legal entity. Corporate income tax is collected on the income of the business after deducting expenses to generate income in the tax period.

Corporate income tax is adjusted for enterprises established in accordance with Vietnamese law and also foreign enterprises with taxable income arising in Vietnam.

Corporate income taxpayers

CIT payers are production and business organizations that have taxable incomes according to the following regulations:

• Enterprises established in accordance with Vietnamese law pay tax on taxable income arising inside and outside Vietnam.
• Foreign enterprises having a permanent establishment in Vietnam shall pay tax on taxable income arising outside of Vietnam in connection with the operation of such permanent establishment and on taxable income arising in Vietnam.
• Foreign enterprises that do not have a permanent establishment in Vietnam pay tax on taxable income arising in Vietnam.

Submit corporate income tax finalization documents

According to Clause 1, Article 12 of Circular 156/2013/TT-BTC (amended and supplemented by Circular 151/2014/TT-BTC), enterprises submit CIT finalization documents to the following locations:

• Submit to the tax authority directly.
• In case the taxpayer has an affiliated unit that does independent accounting, the affiliated unit shall submit a declaration dossier to the tax agency directly managing the affiliated unit.
• In case the taxpayer has an affiliated unit but does dependent accounting, that affiliated unit is not required to submit a CIT return; when submitting CIT declaration dossiers, taxpayers are responsible for making concentrated declarations at the head office, including the arising part at affiliated units.

Tax declaration and payment deadlines

Point dd, Clause 3, Article 10 of Circular 156/2013/TT-BTC stipulates: The deadline for submitting annual tax finalization dossiers is the 90th day from the end of the calendar year or fiscal year.

The filing and payment deadlines can be extended in the following cases:

• Taxpayers who are unable to submit tax declaration dossiers on time due to natural disasters, fires or unexpected accidents may be extended by the heads of tax agencies directly managing them.
• The extension shall not exceed 60 days from the expiration of the time limit for submitting tax declaration dossiers for the submission of tax finalization declaration dossiers.
• The taxpayer must send to the tax authority where the tax return file is received a written request for extension of the tax return filing deadline before the deadline for submitting the tax return, clearly stating the reason for the extension, certified by the taxpayer. The People’s Committee or the police station of the commune where the case arises may extend the time limit for submitting tax declaration dossiers.

Corporate income tax finalization dossiers

According to Article 12 of Circular 156/2013/TT-BTC (amended and supplemented by Circular 151/2014/TT-BTC) when finalizing CIT, enterprises need to prepare tax finalization declaration documents as follows:

• Declaration for finalization of CIT according to form No. 03/TNDN.
• Annual financial reports.
• One or several appendices attached to the declaration (if any), such as:

• • Appendix on business results made according to form No. 03-1A/TNDN, Form No. 03-1B/TNDN, Form No. 03-1C/TNDN.
  • Appendix for loss transfer according to form No. 03-2/TNDN.

• Appendices on CIT incentives such as: Form No. 03-3A/TNDN, Form No. 03-3B/TNDN, Form No. 03-3C/TNDN.

Corporate income tax declaration service of Hong Bang Law

• Advising customers on tax laws in general and Corporate income tax laws in particular;
• Advising customers on regulations and order, procedures, declaration documents for Corporate income tax;
• Prepare reports, declarations, complete and submit declarations to competent state agencies;
• On behalf of clients to amend and supplement dossiers, directly work with competent authorities upon request;
• Perform other tax declaration-related services when required by customers.

In addition to the above services, Hong Bang Law also provides the following services:

• Consulting services and initial tax declaration;
• Monthly tax declaration service;
• Quarterly tax declaration service;
• Tax declaration service according to the time of arising;
• Services of making and declaring year-end financial statements;
• Contractor tax declaration service;
• Year-by-year tax declaration services: Reasonable cost and integrated package of all tax declaration activities of enterprises, completing books and documents, closing and storing business books;
• Tax declaration services at the request of businesses.

If you need more detailed advice and answers as well as how to access this service, please contact directly our Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the toll free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com

Wishing you and your family good health, peace and success!

Best regards!