SINCE JUNE 05, THE TAX LATE PAYMENT INTEREST RATE IS 0.03% PER DAY
On April 20, 2018, the Ministry of Finance issues the Circular No. 39/2018/TT-BTC on amending the Circular No. 38/2015/TT-BTC dated May 25, 2015 on customs procedures, customs supervision and inspection, export tax, import tax, and tax administration applied to exported and imported goods.
This Circular prescribes: Late payment interest = late payment interest rate multiplied by (x) late payment days x amount payable.
Within that, the late payment interest rate is 0.03% per day on the amount payable, instead of the rate 0.05% per day as prescribed at the Circular No. 38/2015/TT-BTC.
Late payment interest shall be charged in the following cases:
- Tax is paid behind the initial deadline, extended deadline, deadline written in the tax imposition decision or tax decision issued by a competent authority;
- Payment of tax arrears due to understatement of tax payable or overstatement of tax exemption, tax reduction or tax refund;
- Tax is paid by installments;
- The exports or imports are granted customs clearance or conditional customs clearance under a guarantee as prescribed in Article 9 of the Law on Export and import duties
This Circular takes effect on June 05, 2018
