Vietnam: Draft decree to facilitate tax declaration and payment

A draft decree amending and supplementing a number of articles in order to facilitate tax declaration and payment

Draft decree to facilitate tax declaration and payment

The Ministry of Finance has prepared a draft decree amending and supplementing a number of articles of Decree 126/2020/ND-CP and Decree 123/2020/ND-CP in order to facilitate tax declaration and payment. Notable provisions of the draft decree include:

  • Amending the regulation on provisional corporate income tax payment—effective starting tax year 2021, the total provisional corporate income tax payment for the four quarters in a fiscal year must not be less than 80% of the annual corporate income tax liability. Currently, Decree 126/2020 requires the provisional corporate income tax for the first three quarters to account for at least 75% of the annual corporate income tax liability.
  • Amending the regulations on declaration of individual (personal) income tax.
  • Supplementing the provision of individual income tax declaration where an individual receives dividends or bonuses in the form of securities.
  • Supplementing the regulation on the deadline for tax declaration and payment.

Read a February 2022 report [PDF 68 KB] prepared by the KPMG member firm in Vietnam

 

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