Note about quarterly registration  & finalization of personal income tax report

Note about quarterly registration & finalization of personal income tax report

In order to reduce administrative procedures for taxpayers, if the enterprise has no employees and does not generate income, it is not required to declare and submit a monthly (or quarterly) personal income tax return to the agency of tax office. Is this legal or not?

Based on the article 7, article 8 of Decree No. 126/2020/ND-CP dated October 19, 2020 of the Government, tax declaration dossiers are tax declarations and relevant legal documents where payable taxes are determined from taxpayer's tax liability with the State budget, shall be drawn up by the taxpayer and sent to the tax administration agency.

In case that organizations and individuals do not generate income, they are not required to make personal income tax finalization declarations. However, there is no regulation that in case organizations and individuals do not generate income, they are not required to declare and submit monthly (or quarterly) personal income tax declarations to the tax office.

According to https://nangluccanhtranh.chinhphu.vn/
Edited by DBRC, Dong Du International Accounting & Legal Consulting Group
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Steps in processing of the written request for analysis of imports and exports are available for use

Steps in processing of the written request for analysis of imports and exports are available for use

On June 28, 2018, the Ministry of Finance issued the Decision No. 1921/QD-TCHQ on introduction of the processes for sorting commodities, and imposing tax rates on imports and exports.

Steps in processing of the written request for analysis of imports and exports are prescribed as follows:

After receipt of the written request for analysis, the inspecting officer verifies documents submitted to request analysis and searching on the MHS system to decide whether the written request is rejected or accepted for further actions.  If the written request is accepted and analysis is carried out, the inspecting officer determines analyzed indicators.  In case of lack of conditions for analysis, an assessment is needed:

  • The inspecting unit requests the requesting customs unit in writing to assign its staff member as a representative to witness the sample splitting process.
  • The sample-splitting report is prepared by using the given template. The sample sent for assessment must be split from the sample received for analysis and must be customs sealed.
  • When sending the sample for assessment, the inspecting unit must clearly specify analyzed indicators to carry out sorting of commodities according to the List of imports and exports, and the Tariff Schedule applied to imported and exported commodities.
  • The inspecting unit is responsible for showing assessment results in the Notification of analysis results.

    The Decision No. 1921/QD-TCHQ will enter into force from the signature date.

Increase the number of branches in the system of economic sectors of Vietnam.

Increase the number of branches in the system of economic sectors of Vietnam.

Decision No. 27/2018 / QD-TTg Promulgating the system of economic branches of Vietnam takes effect from August 20, Accordingly, the list of economic sectors in Vietnam consists of 5 levels:

  • Primary sector consists of 21 sectors coded alphabetically from A to U;
  • Secondary sector includes 88 branches;
  • each sector is encoded by two numbers corresponding to the corresponding primary sector;
  • Sector 3 includes 242 branches;
  • Each sector is encoded by three numbers by secondary sector respectively;
  • Level 4 includes 486 sectors (up 49); each sector is encoded by four numbers in the corresponding tertiary sector;
  • Level 5 includes 734 sectors (up 92 sectors);
  • Each sector is encoded by five digits according to the corresponding level 4 sector.

The contents of the Vietnamese economic sector clearly explain the economic activities, including elements classified into each of the following sections:

  • Include: Economic activities identified in the economic sector;
  • Exclusion: Economic activities not defined in the economic sector but in other economic sectors.

Decision No. 10/2007 / QD-TTg is effective from the effective date of Decision 27/2018 / QĐ-TTg.

SERVICES

Accounting Services

When looking for quality accounts, accounting reports, you want to have accurate accounting data to call for investment, or the need to complete the accounts and documents before audits, tax settlements … that is when you need accounting services of DONG DU.

  • Making a bookkeeping system.
  • Preparing the financial statements.
  • Completing bookkeeping available.
  • Consulting on setting up accounting systems and management.

Supporting Audit Services

DDC group provides supporting audit services and explained the audit results to the client. The experts of DDC group include foreign experts: Japan,… and Vietnamese experts who learned worked in abroad and Vietnam for long years

Tax & Legal Services

Tax advisory services of DONG DU carried out by experienced professionals, will help businesses saving time calculations, tax declaration, saving taxpayer’s money at optimum levels, profitability when making reasonable tax planning, and more importantly, build a sustainable brand and business transparency.

  • Settlement of corporate income tax.
  • Settlement of personal income tax.
  • Declaration monthly VATS.
  • Declaration and settlement of contractors.
  • Declaration of personal income tax month.

Investment Corporate Services

As providers of professional services, DONG DU also offers the following services:

  • Supporting the implementation of applying for business licenses.
  • Managing payroll for businesses.
  • Supporting recruitment.

Support Service Registration Procedures for Businesses & Employees

  • Supporting the implementation of applying for business licenses.
  • Register of personal income tax code for employees.
  • Register working permit.
  • Register and extend of visa to foreign workers.
  • Register temporary residence for foreign workers.
  • Introduce apartments for rent for foreign workers.

Consulting Services Insurance Declaration Procedures & Changes in Corporate Labor

DDC also provides registration services, insurance declaration, and changing labor for customer employees. We are committed to providing services to the spirit of maximizing the added value for customers.

Training Accountant Services

As providers of professional services, DONG DU also offers the following services:

  • Training professional’s accountant for business.
  • Training chief accountant for business.
  • Teaching specific term in foreign languages (English, Japanese).

Supply, Recruiting high-quality Human Resources

DDC group is committed to providing service supply consistent quality resources for social and enterprise customers. We provide high quality human resource training under a closed process, the actual working standards are developed and operated in groups. DDC human resources by providing short-term training to be at the center of the group DPTC before introducing to customers.

PRACTICAL TRAINING CENTER – DPTC

PRACTICAL TRAINING CENTER – DPTC

As the real research saying, after graduating universities, almost people already had the knowledge’s in theory while they do not know how to apply these in practice. Working experiences will be seen like the most difficult to catch. So that, every year, there are a lot of students having less working experiences and this situation is going to repeat increasingly. The students do not have any chances to work in exact thing they learnt. So that, this is more difficult to get job in multinational corporation in region.

DPTC (Dong Du Practical Training Center belonged to DDC International Consulting group) was set up from these requirements above. We are professional training center to be specialized in accounting, tax, enterprise management…And we are striving to develop our training schedule throughout the practical training methods.

You can refer to our practical training center through website http://dptc.edu.vn/