Decree 91/2022/ND-CP dated October 30, 2022 of the Government amending articles of Decree 126/2020/ND-CP dated 19/10/2020 of the Government detailing articles of the Law on Tax Management
Accordingly, one of the noteworthy points is the amendment of the provision on the temporary payment of corporate income tax, specifically:
“The total amount of corporate income tax paid in 04 quarters must not be lower than 80% of the amount of corporate income tax payable according to the annual settlement. In case taxpayers pay less than the temporarily payable tax amount for the 4 quarters of the year, they must pay a late payment interest calculated on the underpaid tax amount from the day following the last day of the 4th quarter CIT temporary payment deadline to the date of payment the remaining tax amount to the state budget”.
In addition, the Decree amends and supplements the case of not having to file a tax declaration for:
“Personal income tax declarant means an organization or individual that pays personal income tax in the case of monthly or quarterly personal income tax declarations in which there is no personal income tax deduction of the income recipient in such month or quarter.”
The Decree takes effect on October 30, 2022. Provision for temporary payment of corporate income tax is applied from the tax registration in 2021 as follows:
- Up to the effective date of this decree, if the taxpayer has a provisional tax payable in the first 3 quarters of the tax period in 2021 not lower than 75% of the payable amount according to the year of settlement,, the provisional rate of 04 quarters in this Decree shall not apply;
- Conversely, taxpayers whose temporary tax payable in the first 3 quarters of the tax period in 2021 is lower than 75% of the payable amount according to the year of settlement, shall be applied the temporary rate of 04 quarters specified in this Decree.