04 NOTES FOR TAXPAYERS DURING THE SUSPENSION OF BUSINESS OPERATION
On October 19, 2020, the Government issues the Decree No. 126/2020/ND-CP on detailing a number of articles of the Law on Tax Administration.
Accordingly, taxpayers should pay attention to the following rights and obligations during the period of suspension of operation or business activities:
Firstly, taxpayers are not required to submit tax declaration dossiers. Unless the taxpayers suspend their operation or business activities not enough one month, quarter, calendar year, or fiscal year, they must submit monthly or quarterly tax declaration dossiers or annual settlement dossiers.
Secondly, if business households or individuals that pay tax amounts by presumption method suspend their operation or business activities, the tax offices shall re-determine their presumptive tax amounts in accordance with regulations of the Minister of Finance.
In addition, taxpayers are not allowed to use invoices and are not required to submit reports on use of invoices.
In cases where the taxpayers are permitted by the tax offices to use invoices in accordance with the laws on invoices, they shall submit tax declaration dossiers and reports on the use of invoices in accordance with the regulations.
Noticeably, taxpayers shall abide by decisions and notices of tax administration offices on urging the collection of tax arrears, coercive enforcement of tax administration-related administrative decisions, inspection and examination of tax law observance, and handling of administrative violations of tax administration.
Besides, the Government also guides various important contents related to tax declaration and calculation; tax refund, freezing of tax arrears; write-off of tax arrears, late-payment interests and fines; and enforcement of tax administration-related administrative decisions, etc.
This Decree takes effect on December 05, 2020.
