Types of tax returns that businesses must file
According to the law, every year enterprises must submit the following types of basic declarations:
– License tax declaration (for newly established businesses, or already established but with capital changes);
– Value added tax declaration;
– Corporate income tax declaration;
– Personal income tax return;
– Report on the use of invoices;
– Financial statements, annual settlement declarations.
These are the declarations that must be submitted in the year of the enterprise, if filed late or not, the enterprise will be subject to administrative fines as prescribed by law.
Penalty for late payment of tax returns
Article 13 Decree 125/2020/ND-CP stipulates the sanctioning of violations on the deadline for submitting tax declaration dossiers as follows:
– Time limit from 01 to 05 days: A warning will be imposed if there are extenuating circumstances;
– Time limit from 01 day to 30 days: A fine of between VND 2 million and VND 5 million, unless there are extenuating circumstances when the payment is delayed from 01 to 05 days;
– Time limit of 31 days to 60 days: A fine of between VND 5,000,000 and 8,000,000;
– Time limit of 61 days to 90 days, over 91 days but no tax payable, no tax declaration even though no tax is incurred: A fine of between VND 8,000,000 and 15,000,000;
– For more than 90 days: A fine ranging from VND 15,000,000 to VND 25,000,000.
Above is the content of the article the penalty for late payment of tax returns of enterprises. If you have any questions, please contact LawKey for detailed answers.