What is the deadline for CIT finalization in 2024?

1. What is the deadline for CIT finalization in 2024?

Pursuant to Point a, Clause 2, Article 44 of the Law on Tax Administration 2019 stipulates the deadline for finalizing corporate income tax in 2024 as follows:

Article 44. Deadline for submitting tax declaration documents

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2. The deadline for submitting tax declaration documents for taxes with annual tax periods is specified as follows:

a) No later than the last day of the 3rd month from the end of the calendar year or fiscal year for annual tax finalization dossiers; no later than the last day of the first month of the calendar year or fiscal year for annual tax returns;

b) No later than the last day of the 4th month from the end of the calendar year for personal income tax finalization dossiers of individuals directly making tax finalization;

c) No later than December 15 of the preceding year for flat tax declaration dossiers of business households and individuals paying tax according to the flat tax method; In case of new business households or individuals, the deadline for submitting flat tax declaration documents is 10 days at the latest from the date of business commencement.

Accordingly, for the fiscal year 2024 (January 1, 2024 – December 31, 2024), the deadline for finalizing corporate income tax in 2024 is Monday, March 31, 2025.

2. How to finalize corporate income tax in 2024 for business locations that are manufacturing establishments?
Pursuant to item c.2, point c, clause 3, Article 17 of Circular 80/2021/TT-BTC regulating corporate income tax settlement for dependent units whose business locations are production establishments as follows:

(i) Taxpayers declare corporate income tax finalization for all production and business activities according to Form 03/TNDN.

(ii) Submit the appendix of the table of distribution of corporate income tax payable to the localities where the production facility is entitled to revenue according to Form 03-8/TNDN to the directly managing tax agency.

(iii) Pay the tax amount allocated to each province where the production facility is located as prescribed in Clause 4, Article 12 of Circular 80/2021/TT-BTC.

Article 12. Allocation of tax obligations of centrally accounted taxpayers with dependent units and business locations in provinces other than where the head office is located

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4. Taxpayers base on the tax amount payable in each province to receive allocated revenue to prepare payment vouchers and pay money into the state budget according to regulations. The State Treasury, which receives taxpayers’ documents for payment to the state budget, accounts for the revenue for each area receiving the allocated revenue.

Note:

(i) For activities eligible for corporate income tax incentives, the taxpayer declares tax finalization according to form No. 03/TNDN at the directly managing tax agency.

Determine the amount of corporate income tax payable for activities eligible for corporate income tax incentives according to Form No. 03-3A/TNDN, 03-3B/TNDN, 03-3C/TNDN, 03-3D/TNDN and submit it to the tax agency where there is a unit enjoying incentives other than the province and the tax agency directly managing it.

(ii) In case the tax amount temporarily paid quarterly is less than the tax amount payable allocated to each province according to tax finalization, the taxpayer must pay the remaining tax amount to each province.

(iii) In case the tax amount temporarily paid quarterly is greater than the tax amount allocated to each province, it will be determined as overpaid tax amount and handled according to the provisions of Article 60 of the Law on Tax Administration 2019 and Article 25 of Circular 80/2021/TT-BTC.

3. In what form does the tax administration receive tax declaration documents?
Pursuant to Clause 1, Article 48 of the Law on Tax Administration 2019 stipulates as follows:

Article 48. Responsibilities of tax administration agencies in receiving tax declaration dossiers

1. Tax administration agencies receive taxpayers’ tax declaration dossiers through the following forms:

a) Receive documents directly at the tax administration agency;

b) Receive documents sent by post;

c) Receive electronic records through the tax authority’s electronic transaction portal.

Thus, the tax administration agency receives tax declaration dossiers through the following forms: directly at the tax administration agency, via post and electronic transaction portal.