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[Taxation] Binh Duong Province Department of Taxation Information on Corporate Tax Finalization for the Year 2023

2024/02/01

On January 12, 2024, Binh Duong Tax Department issued Official Letter No.1016/CTBDU-TTHT, informing CIT finalization for the year 2023 as follows.

The total provisional CIT paid in the first, second, third and fourth quarters of the fiscal year must be at least 80% of the total CIT amount from the annual finalization. Any shortfall in the total provisional CIT payment shall be subject to interest on arrears from the day after the last day of the fourth quarter of the fiscal year until the day before the day of payment of the shortfall, in accordance with Article 1.3 of Decree No. 91/2022/NĐ-CP. The deadline for submission of CIT finalization is the last day of the third month after the end of the calendar year or fiscal year. The complete set of documents to be submitted for a corporate income tax return is as follows:

(i)Form 03/TNDN, the tax return form issued with Circular No.80/2021/TT-BTC of the Ministry of Finance.

(ii)Annual financial statements in accordance with the provisions of the Accounting Law and the Independent Audit Law, or financial statements up to the time of termination of business, conversion of corporate form or reorganization of the enterprise.

(iii)One or more appendices according to the actual situation (appendix on production and operating results, appendix on losses carried forward, appendix on tax incentives, appendix on taxes paid abroad, appendix on taxes on real estate transfer activities, appendix on allocation of tax payments to production sites).

For enterprises that have incurred transactions between related parties, the CIT finalization must include the documents specified in Appendices I, II, III, and IV issued by Decree No.132/2020/ND-CP.

Since March 31, 2024 falls on a Sunday, the deadline for CIT declaration and payment for the fiscal year 2023 is the next business day, Monday, April 1, 2024. However, due to possible system trouble, it is recommended that tax returns be filed and paid by Friday, March 29, 2024.

Reference
Official Letter No. 1016/CTBDU-TTHT dated January 12, 2024 of Binh Duong Tax Department.
*This article was translated by Yarakuzen.