Vietnam: What to keep in mind about taxes in 2023? How is the 2023 tax payment deadline set?

What are the value-added tax rates in Vietnam, 2023?

Previously, in 2022, the Government issued Decree 15/2022/ND-CP stipulating the reduction of value added tax (VAT) for some goods and services that are applying a 10% value-added tax rate.

However, from January 1, 2023, the value-added tax rate has returned to the normal tax rate because the Government has not yet announced a new extension of the reduction of the value-added tax rate.

Based on Article 9, Article 10 and Article 11 of Circular 219/2013 / TT-BTC , in 2023 there are 03 value-added tax rates including:

– 0% VAT rate

– 5% VAT rate

– 10% VAT rate.

Thus, there are currently 03 value-added tax rates of 0%, 5% and 10%. These tax rates are applied depending on the type of goods and services in accordance with the law on value added tax.

Vietnam: What to keep in mind about taxes in 2023? How is the 2023 tax payment deadline set?

When is the license tax deadline for 2023? What is the license tax rate in Vietnam, 2023?

Deadline for filing license tax returns 2023:

Pursuant to Clause 1, Article 10 of Decree 126/2020/ND-CP stipulating the deadline for submitting license tax returns as follows:

– Newly established license fee payers (except business households and business individuals) (including small and medium-sized enterprises transferred from business households) or who have established additional dependent units, business locations or started production and business activities shall submit a dossier of license fee declaration no later than January 30 of the year after the year of establishment or start production and business activities.

In case there is a change in capital during the year, the person paying the license fee shall submit a dossier of declaration of the license fee no later than January 30 of the year after the year in which the change information arises.

License tax payment deadline 2023:

Pursuant to Clause 9, Article 18 of Decree 126/2020/ND-CP stipulating the deadline for paying license tax as follows:

Article 18. Deadlines for payment of tax-related amounts, fees for grant of right to extraction of water resources and minerals, fees for grant of sea area usage, registration fees and licensing fees

…

9. licensing fee:

a) Licensing fee shall be paid annually by the 30th of January.

…

Thus, the deadline for submitting licenses is no later than 30/01/2023.

License tax payable in 2023:

Pursuant to Clause 1, Article 4 of Decree 139/2016/ND-CP and Clause 1, Article 4 of Circular 302/2016/TT-BTC, the license fee for organizations engaged in the production and trading of goods and/or services is as follows:

– Organizations with charter capital or investment capital of over VND 10 billion: VND 3,000,000 (three million) per year;

– Organizations with charter capital or investment capital of VND 10 billion or less: VND 2,000,000 (two million) per year;

– Branches, representative offices, business locations, non-business units, other economic organizations: 1,000,000 (one million) VND/year.

Pursuant to the provisions of Clause 2 Article 4 of Decree 139/2016/ND-CP supplemented by Point a, Clause 2, Article 1 of Decree 22/2020/ND-CP, the license fee for individuals and households engaged in the production and trading of goods and/or services is as follows:

– Individuals, groups of individuals and households with a turnover of over 500 million VND/year: 1,000,000 VND/year;

– Individuals, groups of individuals and households with revenues of over 300 to 500 million VND/year: 500,000 VND/year;

– Individuals, groups of individuals and households with revenues of over 100 to 300 million VND/year: 300,000 VND/year.

What are the notes on the 2023 billing symbol in Vietnam?

Pursuant to Point a, Clause 3, Article 10 of Decree 123/2020/ND-CP stipulates:

Article 10. Contents of invoices

…

3. Invoice number

a) Invoice number is an ordinal number written on the invoice when it is issued by the seller. An invoice number consists of 8 digits, from 1 to 99 999 999, written in Arabic numerals, begins on January 01 or the first day on which the invoices are used and ends on December 31. Numbers of invoices of the same reference number and form number shall be issued in ascending order. Buyers of tax authority-ordered printed invoices may use the invoice numbers pre-printed on such invoices.

If a business entity has multiple points of sale or multiple establishments using the same type of e-invoices of the same reference number by adopting the random access method from an e-invoicing system, invoices shall be issued in ascending order from the date on which the digital or electronic signature is added to the invoice.

According to Point b Clause 1 Article 4 of Circular 78/2021 / TT-BTC of the Ministry of Finance guiding:

Article 4. Form number, reference number and names of copies of an invoice

1. E-invoices

…

b) Reference number of an e-invoice contains 6 characters, including letters and numbers, indicating whether the invoice bears the tax authority’s identification code or not, year of issuance, and type of e-invoice. 6 characters are as follows:

– The first character: C if the invoice bears a tax authority’s authentication code; K if the invoice does not bear a tax authority’s authentication code;

– The next two characters are the last two digits of the year in which the e-invoice is issued, written in Arabic numerals. Example: 22 if the e-invoice is issued in 2022; 23 if the e-invoice is issued in 2023;

…

Accordingly, from January 1, 2023, taxpayers make a character change to show the billing year as “23” (2023) and the invoice number will be retyped from 1 corresponding to each invoice symbol.

When is the deadline to pay VAT and CIT in early 2023 in Vietnam?

The deadline for paying VAT and CIT is specified in Article 44 of the Law on Tax Administration 2019. Accordingly:

– In case of monthly declared tax: no later than 20/01/2023, enterprises must submit tax returns and value-added tax in the period of December 2022.

– In case of quarterly declared tax: no later than January 31, 2023, enterprises must submit tax returns and value-added tax for Q4 2022.

– The deadline for CIT payment in Q4 2022 is no later than January 30, 2023;

What is the deadline for filing tax finalization documents in Vietnam?

According to the provisions of Clause 2, Article 44 of the Law on Tax Administration 2019, the deadline for submitting tax finalization documents and tax amounts according to the 2022 settlement is no later than March 31, 2023.

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