This Law provides for tax registration, tax declaration, tax payment, tax exemption, tax reduction, tax refund, and actions against tax-related administrative violations.
Accordingly, in comparison with the earlier Law, this Law supplements the policy on “tax remission” with regard to individuals whose annual personal income tax payable on salary or wage is VND 50.000 or smaller (Article 79).
In addition, this new Law also supplements the policy on “tax chargeoff” applicable to these cases: The taxpayer is dead or declared dead, missing or incapacitated by the court; the taxpayer submits a dissolution decision; the taxpayer has filed for bankruptcy; the taxpayer no longer does business at the registered address; the taxpayer’s certificate of business registration has been revoked (Article 83).
The aforesaid cases entitled to the “tax chargeoff” shall not be charged late payment interest (Clause 6 Article 59).
Regarding personal tax identification numbers (TINs), personal identification numbers shall replace TINs when they are issued to the whole population (Clause 7 Article 35).
This Law comes into force from July 1st, 2020.
Regulations on electronic documents and invoices of this Law come into force from July 1st, 2022; organizations and individuals are recommended to apply regulations on electronic documents and invoices in this Law before July 1st, 2022.
The Law on Tax administration No. 78/2006/QH11 , which has been amended by Law No. 21/2012/QH13 , Law No. 71/2014/QH13 and Law No. 106/2016/QH13 , ceases to be effect from the effective date of this Law, except for the cases specified in Clause 1 Article 152 of this Law.
|125/2020/NĐ-CP||Regulations on administrative penalties for tax or invoice-related violations|
|Published||Vietlaw's Newsletter No. 428|