NOTES WHEN DECLARING AND PAYING TAXES

1. Reduce 30% of corporate income tax payable in 2020 for businesses under 200 billion. When preparing CIT finalization, remember to choose PL 114

2. The loan interest control level for businesses with associated transactions is 30%

3. Deduction level of 11 million for self and 4 million for dependents when finalizing personal income tax in 2020

4. If you have a dependent production unit, remember to allocate the corporate income tax payable to the dependent unit.

5. If there is an inspection or inspection in 2020, remember to do accounting before preparing financial statements and tax finalization.

6. Losses can be carried forward continuously for 5 years (The law already exists, so if you do otherwise it is wrong, you will be fined as usual)

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A. When declaring personal income tax: If no tax is incurred, you must also submit a monthly/quarterly personal income tax return

If you declare VAT quarterly -> you have the right to choose to declare personal income tax quarterly or monthly

If you declare VAT monthly -> Personal income tax must also be declared monthly

There are no salary expenses --> declare it as clean as a baby

No personal income tax arises --> declare the number of employees (norms 21, 22) + Taxable income (norms 27)

==> Remember to distinguish the following concepts. Many people ask why personal income tax does not arise and if I declare it blank, they say it is wrong?

Total income = Taxable income + Non-taxable income
Taxable income = Income according to the PIT law that is subject to PIT = Total income - non-taxable income
Non-taxable income = Income according to the PIT law that is not subject to PIT = Total income - Taxable income
Taxable income = (Taxable income - Deductions (Self, dependents, insurance......))

B. Regarding VAT declaration: Having already submitted the official declaration, if errors are discovered, only make an additional declaration or written explanation if there is no change in tax (Regardless of whether there is still a deadline or not). same as before)

The cycle to determine tax declaration is 1 fiscal year (At the end of the year, based on revenue to determine monthly/quarterly VAT declaration)