In November 2023, financial management and fulfillment of tax obligations become more important than ever for businesses and accountants. This month marks a series of important milestones, from declaring value-added tax to paying insurance premiums and union dues. To ensure that business operations run smoothly, accountants need to clearly understand the work that needs to be done in November 2023.
Bizzi We would like to send you detailed information about these jobs, to help you grasp an overview of the requirements and deadlines as well as the accounting work that needs to be done this November.
1. Accounting work to be done: Declare and pay taxes
V.a.t tax
- For businesses that are required to declare and pay VAT monthly
Enterprises must deploy and pay VAT for October 2023 as follows:
- Tax return
– The deadline for declaring and paying taxes is November 20, 2023 (Monday) at the latest.
– For businesses that declare and pay VAT quarterly
For businesses subject to quarterly tax declaration, they will not have to declare and pay value added tax in November 2023.
(Pursuant to Clause 1, Article 8 of Decree 126/2020/ND-CP and Clause 1, Article 44, Clause 1, Article 55 of the Law on Tax Administration 2019).
Instructions for preparing value added tax declaration
With VAT declaration dossiers, businesses submit VAT declarations according to the form issued with Circular 80/2021/TT-BTC, including:
- Form 01/GTGT (for businesses that calculate tax using the deduction method)
- Form 02/GTGT (for businesses that calculate tax using the deduction method and have investment projects eligible for tax refund)
- Form 03/GTGT (for businesses calculating tax using the direct VAT method - applicable to gold, silver, and gemstone trading and processing activities)
- Form 04/GTGT (for businesses calculating tax using the direct revenue method)
- Form 05/GTGT in case of tax calculation using the deduction method involving construction activities.
personal income tax
- In case an enterprise declares and pays personal income tax monthly:
For businesses that are required to declare and pay personal income tax monthly, they need to declare and pay personal income tax to employees if in October there is a deduction of personal income tax before paying salaries and wages to employees.
Deadline for declaring and paying taxes: no later than November 20, 2023 (Monday).
- In case an enterprise declares and pays personal income tax quarterly:
For businesses subject to quarterly tax declaration, they are not required to declare and pay personal income tax for employees in November 2023.
(Pursuant to Clause 1, Article 8 of Decree 126/2020/ND-CP and Clause 1, Article 44, Clause 1, Article 55 of the Law on Tax Administration 2019).
Corporate income tax
In November 2023, businesses do not have to declare taxes and temporarily pay quarterly corporate income tax.
2. Deduction and payment of social insurance, health insurance, and unemployment insurance premiums
Compulsory social insurance (SI), health insurance (HYT) and unemployment insurance (UI) payments for employees in November 2023 will be paid by businesses (except for cases operating in the agricultural sector). industry, forestry, fishery, salt industry) paid and deducted from the employee's salary as follows:
– The company deducts from the monthly salary to pay compulsory social insurance of each employee according to the level prescribed by law (See specific contribution rate in 2023 HERE).
– Insurance payment deadline: no later than November 30, 2023 (Thursday).
– Closing method:
+ Social insurance and health insurance contributions of all employees must be transferred at the same time to the collection account of the social insurance agency opened at a bank or State Treasury.
+ Enterprises pay unemployment insurance and deduct the salary of each employee according to the prescribed level to pay at the same time to the Unemployment Insurance Fund.
(Pursuant to Clause 1, Article 7, Article 16, Clause 1, Article 17 and Clause 1, Article 19, Decision 595/QD-BHXH dated April 14, 2017, amended and supplemented by Clause 5, Article 2, Decision 490/QD- Social Insurance on March 28, 2023).
3. Deduction and payment of trade union fees
November trade union fees will be deducted and paid by the enterprise as follows:
– Enterprises pay union fees once every month, at the same time as paying social insurance (specifically, the payment deadline is Thursday, November 30, 2023).
– The level of union fee payment is equal to 2% of the salary fund as a basis for paying social insurance for employees, in which this salary fund is the total salary of employees subject to social insurance payment.
(Pursuant to Articles 5 and 6 of Decree 191/2013/ND-CP).
However, according to Decision 7823/QD-TLD dated August 31, 2023 of the Vietnam General Confederation of Labor, businesses are allowed to Postponement of union dues until December 31, 2023 If the enterprise has a reduction of 50% or more in employees participating in social insurance compared to January 1, 2023 (including employees who stop working, temporarily postpone the implementation of labor contracts, and agree to take unpaid leave) due to the enterprise Businesses were cut, orders were reduced.
4. Notification of labor fluctuations (if any)
Before November 3, 2023 (Friday), enterprises must notify the employment service center where their headquarters is located about the labor fluctuation situation according to Form No. 29 (issued together with Circular 28/ 2015/TT-BLDTBXH) if the number of employees working at the enterprise increases or decreases in October 2023.
In case an enterprise reduces 50 or more employees, it must immediately notify the employment service center where its headquarters is located for timely advice and support.
On the contrary, if in October 2023, the number of employees working at the enterprise does not change, the enterprise does not need to carry out this notification procedure.
(Pursuant to Article 16 of Circular 28/2015/TT-BLDTBXH).\
5. Other regular accounting tasks
In addition, accountants also need to perform other regular accounting tasks, including:
- Check and compare books and accounting documents: Check and compare books and accounting documents to ensure the accuracy and truthfulness of accounting information.
- Prepare financial reports: Prepare financial reports according to the provisions of law to provide information to relevant parties.
- Accounting for arising economic transactions: Accounting for economic transactions arising in November 2023 in accounting books.
Above is a list of accounting tasks that need to be done in November 2023. To ensure correct and complete implementation of tasks, accountants need to carefully prepare accounting records and documents and comply with them properly. provisions of law.
Bizzi is committed to supporting the accounting and business community by providing the latest and most up-to-date information on accounting, tax, and financial regulations. We hope that the information we provide about accounting work to be done in November 2023 will help you in your daily work and ensure compliance with current regulations. Don't forget to follow Bizzi to update the latest information through our media channels.
Follow Bizzi to quickly receive the latest information:
- Facebook: https://www.facebook.com/bizzivietnam
- Linkedin: https://www.linkedin.com/company/bizzi-vietnam/
- Youtube: https://www.youtube.com/@bizzivietnam
