Vietnam 2020 NOTES FOR TAXPAYERS WHO ARE SUSPENDING THE BUSINESS OPERATION

Date
2020-11-17 10:31

NOTES FOR TAXPAYERS WHO ARE SUSPENDING THE BUSINESS OPERATION



According to the Decree No. 126/2020/ND-CP, taxpayers should pay attention to the following rights and obligations during the period of suspension of operation or business activities:

Firstly, taxpayers are not required to submit tax declaration dossiers. Unless the taxpayers suspend their operation or business activities not enough one month, quarter, calendar year, or fiscal year, they must submit monthly or quarterly tax declaration dossiers or annual settlement dossiers.

Secondly, if business households or individuals that pay tax amounts by presumption method suspend their operation or business activities, the tax offices shall re-determine their presumptive tax amounts in accordance with regulations of the Minister of Finance.

Thirdly, taxpayers are not allowed to use invoices and are not required to submit reports on use of invoices, except from cases that the taxpayers are permitted by the tax offices to use invoices in accordance with the laws on invoices and they shall submit tax declaration dossiers and reports on the use of invoices in accordance with the regulations.

Fourly and noticeably, taxpayers shall abide by decisions and notices of tax administration offices on urging the collection of tax arrears, coercive enforcement of tax administration-related administrative decisions, inspection and examination of tax law observance, and handling of administrative violations of tax administration.