General issues about value added tax (VAT) in Vietnam (Part 3)

General issues about value added tax (VAT) in Vietnam (Part 3)

Following my recent topics about corporate income tax and value added tax in Vietnam, today I am addressing general issues about value added tax in Vietnam (Part 3)

VAT declaration in Vietnam

The taxpayer shall submit the tax declaration to the supervisory tax authority.

VAT declarations shall be declared monthly or quarterly if the taxpayer earns a total revenue of 50 billion VND or less from the sale of goods and/or services in the preceding year

Period of quarterly declaration - VAT shall be declared monthly or quarterly throughout the calendar year and the 3-year period (Article 15, Circular 151/2014/TT-BTC making amendment to Point c Clause 2 Article 11 of Circular No. 156/2013/TT-BTC).

Deadlines for submitting VAT declarations:

The deadline for submitting a monthly VAT declaration is the 20th of the month succeeding the month in which tax is incurred.

The deadline for submitting a quarterly VAT declaration or provisional quarterly tax declaration is the 30th of the quarter succeeding the quarter in which tax is incurred (Article 10, Circular  No. 156/2013/TT-BTC).

Deadlines for paying VAT in Vietnam

The deadline for paying VAT is the deadline for submitting the tax declaration if tax is calculated by the taxpayer, or the deadline imposed by the tax authority or a competent authority (Article 26, Circular  No. 156/2013/TT-BTC).

Value added tax (VAT) in Vietnam (Part 3)

 
Prepared by:
Thi-Ha Nguyen, ACCA 
DMS Law firm in Vietnam
Approved by:
Director
Lawyer Do Minh Son 

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