6 tax procedures needed to be completed when established a new enterprise

1. Declaration and payment of licensing fees

  • Licensing fees shall be declared once when an enterprise is established no later than the last day of the month in which business operation is commenced;
  • In case a business establishment is established but not yet come into operation, licensing fees must be declared within 30 days from the day of issuance of certificate of business registration or certificate of investment registration and certificate of tax registration.
  • The deadline for payment of licensing fees is the same as that for submitting the licensing fee declaration.
  • Only the licensing fee declaration is required to declare licensing fees.
  • After commencement of operation, license fees shall be paid annually no later than the 30th of January.

2. Notification of value added tax (VAT) accounting method (form 06/GTGT) 

  • There are 2 methods of VAT calculation: credit-invoice method (using VAT invoices) and direct method (using sales invoices).
  • To apply the direct method, the business shall submit form 06/GTGT to the tax authority by the deadline for submitting the first tax declaration.

3. Notification on the using of tax agent service

The taxpayer that hires a tax agent to follow tax procedures shall notify the supervisory tax authority in written form together with the duplicate copy of contract for tax service provision with the taxpayer’s certification at least 05 working days before the tax agent begins the tax procedures specified in the contract.

4. Registration of personal income tax identification numbers

  • Businesses shall deduct personal income tax when paying salaries or remunerations and register personal income tax identification numbers for their workers who have not had personal income tax identification numbers.
  • Each individual earning income from salaries or remunerations may authorize the employer to apply for tax registration and claim dependent(s).

Registration form:

  • Personal income tax identification numbers registration form applied to workers: 05-DK-TH-TCT (issued together with Circular No. 95/2016/TT-BTC)
  • Personal income tax identification numbers registration form applied to dependents: 20-DK-TH-TCT (issued together with Circular No. 95/2016/TT-BTC)

5. Registration of electronic transaction with the tax authority

  • Ho Chi Minh City is an area with sufficient infrastructure of information technology so enterprises established in Ho Chi Minh City must declare and pay taxes electronically.
  • After having the public digital signature, the enterprise shall register electronic tax declaration and tax payment at: http://nhantokhai.gdt.gov.vn/ 

6. Notification of the method for fixed asset depreciation 

 The business shall register the depreciation method with the tax authority.

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