Making annual/terminal statements of corporate income tax

On March 30, 2016, the Ministry of Finance promulgated 12 tax administration procedures that are amended, replaced, or annulled.

According to the Circular, procedures for making annual/terminal statements of corporate income tax to be submitted to Departments of Taxation of provinces consist of 02 steps as follows:

Step 1: The taxpayer prepares documents and sends them to the tax authority:

• - Within 90 days from the end of the calendar year or fiscal year in case of annual statement.
• - Within 45 days from the issuance date of a decision on division, amalgamation, merger, conversion, dissolution, or shutdown of the enterprise.

Step 2: The tax authority shall:

• - Appends its seal on the documents; record the time of receipt, quantity of documents in its logbook if documents are submitted directly at the tax authority.
• - Append its seal on the documents and record information in the logbook if documents are sent by post.
• - If documents are submitted electronically, they shall be received by the electronic data processing system.

Decision 626/QĐ-BTC comes into force from August 06, 2015.