Performing Tax Reporting: A Guide by Viet-Aus Audit

Performing tax reporting has long been a mandatory task for a company's accounting department. So, how is a tax report prepared? When should tax reports be submitted, and what should accountants pay attention to? Let Viet-Aus Audit address these questions for you today!

What is Tax Reporting? Tax reporting involves the declaration of various value-added tax (VAT) invoices for both input and output transactions related to the use of services and purchase of goods. Essentially, tax reporting acts as a bridge between the tax management authority and businesses, allowing the tax management authority to easily track the current business activities of the enterprise.

When to Submit Tax Reports According to the regulations outlined in Article 44 of the Tax Administration Law 2019, the deadlines for submitting tax declarations for monthly, quarterly, or annual taxes are as follows:

• Monthly tax reports: No later than the 20th day of the following month.
• Quarterly tax reports: No later than the 30th day of the first month of the next quarter.
• Annual tax reports: No later than January 30th of the following year.

Types of Tax Reports Businesses are required to submit various types of tax reports, including:

1. Value-Added Tax (VAT) Report:
   • Submission can be monthly or quarterly.
   • Deadline for submission: No later than the 20th or 30th day of the following month.

Documents Required for VAT Reporting:

• For VAT deduction method: Prepare documents such as the VAT invoice declaration form 01-1/GTGT and the VAT declaration form 01/GTGT.
• For direct VAT reporting: Prepare documents such as the VAT invoice declaration form 04-1/GTGT and VAT declaration forms 03/GTGT or 04/GTGT, depending on the reporting method.

For more details, you can explore additional information on input tax deduction here.

For further inquiries and to enhance your understanding, feel free to contact Viet-Aus Audit. We are here to assist you on your tax reporting journey!

>> Further Information: A Guide by Viet-Aus Audit

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.