On October 30, 2022, the Government of Vietnam promulgated Decree No. 91/2022/NĐ-CP, which amends Decree No. 126/2020/NĐ-CP elaborating the Law on Tax Administration. Accordingly, there are some notable contents as follows:
Total provisional corporate income tax of 04 quarters must be at least 80% of corporate income tax payable under the annual tax finalization dossier.
Previously according to the Decree No. 126/2020/NĐ-CP the total amount of provisional corporate income tax paid in the first 03 quarters of the year shall be at least 75% of corporate income tax payable under the annual tax finalization dossier.
Provisional corporate income tax of tax period 2021 will be paid as follows:
- By October 30, 2022, if the provisional tax paid by the taxpayer in the first 03 quarters of 2021 is not smaller than 75% of the annually finalized tax, regulations of Clauses 3, 4, 5 Article 1 of Decree No. 91/2022/NĐ-CP on the minimum ratio of provisional corporate income tax of 04 quarters (at least 80% of annually finalized tax) shall not apply.
- By October 30, 2022, if the provisional tax paid by the taxpayer in the first 03 quarters of 2021 is smaller than 75% of the annually finalized tax, the regulations that provisional corporate income tax of 04 quarters must be at least 80% of annually finalized tax may be applied if it does not lead to an increase in late payment interest.
In addition, the supplementary Decree stipulates that tax declaration dossiers are not required when the personal income tax declarant is an income-paying organization or individual in the case of monthly or quarterly personal income tax declaration, that there is no deduction of personal income tax of the income recipient in that month, quarter.
Decree 91/2022/ND-CP takes effect from October 30, 2022.
