Below are the deadlines for VAT payment in November 2024 that businesses need to pay attention to in order to avoid being fined. Bizzi Find out!
1. Note the deadline for VAT payment in November 2024 to avoid penalties
According to Clause 1, Article 55 Tax Administration Law 2019 stipulates that in case the taxpayer calculates tax, the deadline for tax payment is the last day of the deadline for submitting tax declaration dossiers. Accordingly, Clause 1, Article 44 Tax Administration Law 2019 There are regulations on the deadline for submitting tax declarations for monthly taxes, no later than the 20th day of the month following the month in which the tax liability arises.
Thus, according to the above regulations, the deadline for paying VAT must be paid at the same time as the monthly tax declaration submission.
The deadline for paying VAT for the October 2024 tax period is November 20, 2024 (Wednesday).
Note: In case of supplementary tax declaration, the tax payment deadline is the deadline for submitting the tax declaration of the tax period containing errors or omissions.
At the same time, in Article 4 Decree 64/2024/ND-CP November 20, 2024 is also the VAT payment deadline for the May 2024 tax period when it has been extended.
2. Penalty for late payment of VAT in 2024
Pursuant to Article 59 Tax Administration Law 2019 regulations on taxpayers who pay taxes late compared to the prescribed deadline, the extended deadline for tax payment, the deadline stated in the tax authority's notice, the deadline in the tax assessment decision or the tax authority's handling decision;
Accordingly, the late payment interest rate and the late payment interest calculation period are prescribed as follows:
– Mức tính tiền chậm nộp bằng 0,03%/ngày tính trên số tiền thuế chậm nộp;
– Thời gian tính tiền chậm nộp được tính liên tục kể từ ngày tiếp theo ngày phát sinh tiền chậm nộp đến ngày liền kề trước ngày số tiền nợ thuế, tiền thu hồi hoàn thuế, tiền thuế tăng thêm, tiền thuế ấn định, tiền thuế chậm chuyển đã nộp vào ngân sách nhà nước.
Note: Taxpayers shall determine the amount of late payment according to regulations and pay it to the state budget according to regulations. In case taxpayers have excess tax, late payment, or fines, they shall comply with the provisions of Clause 1, Article 60. Tax Administration Law 2019.
In case after 30 days from the tax payment deadline, the taxpayer has not paid tax, late payment, or fine, the tax authority shall notify the taxpayer of the outstanding tax, fine, and number of days of late payment.
3. Cases where late payment is not charged
No late payment fee is charged in the following cases:
– Người nộp thuế cung ứng hàng hóa, dịch vụ được thanh toán bằng nguồn vốn ngân sách nhà nước, bao gồm cả nhà thầu phụ được quy định trong hợp đồng ký với chủ đầu tư và được chủ đầu tư trực tiếp thanh toán nhưng chưa được thanh toán thì không phải nộp tiền chậm nộp.
The amount of tax debt excluding late payment is the total amount of tax owed to the state budget by the taxpayer but does not exceed the amount of unpaid state budget;
– Các trường hợp quy định tại điểm b khoản 4 Điều 55 của Luật này thì không tính tiền chậm nộp trong thời gian chờ kết quả phân tích, giám định;
During the period when the official price is not available; during the period when the actual payment is not determined, adjustments are added to the customs value.
In addition, taxpayers who must pay late payment fees according to regulations are exempted from late payment fees in cases of force majeure including:
– Người nộp thuế bị thiệt hại vật chất do gặp thiên tai, thảm họa, dịch bệnh, hỏa hoạn, tai nạn bất ngờ;
– Các trường hợp bất khả kháng khác theo quy định của Chính phủ.
(Clause 5, 8 Article 59 Tax Administration Law 2019)
According to Law Library