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
#setting up company in Vietnam#accounting #tax #legalconsulting #coaching#humanresources