Corporate income tax contributes to ensuring the State budget, is a tool for effective management and regulation of the state economy, is certainly the fairness of society through the tax task and is also a public policy. tool to evaluate the business performance of tax collectors. Therefore, the amount of temporarily paid corporate income tax for 4 quarters must not be lower than 80% of the amount that must be closed according to the annual finalization, right? Let’s consult Pham to answer this question!

 

 

1. The amount of temporary import tax for the first 3 quarters of tax calculation in 2021 is lower than 75% of the payable amount according to the annual finalization, what should be done?

Decree No. 91/2022/ND-CP amends regulations on temporary payment of corporate income tax at Point b, Clause 6, Article 8 of Decree No. 126/2020/ND-CP and also adjusts the corresponding regulations at Point c and point g, Clause 6, Article 8 of Decree No. 126/2020/ND-CP on temporary collection of remaining after-tax profits after appropriating revenues from state-owned enterprises holding 100% of charter capital and temporarily collecting corporate income tax precious industry of foreign carriers’ outdoor machines.

According to Point Clause 6, Article 8 of Decree No. 126/2020/ND-CP stipulating “The total amount of temporarily paid corporate income tax of the first 3 quarters of the year must not be less than 75% of the payable corporate income tax amount.” If the taxpayer’s tax amount is short of the temporarily payable tax amount for the first 3 quarters of the tax year, a late payment interest must be calculated on the underpaid tax amount from the next day to the last day of the time limit for temporary tax payment. from the third quarter corporate income to the date of payment of the outstanding tax amount into the state budget”.

With such adjustment, the enterprise will not be able to complete the temporary payment of tax for the whole year in the third quarter before the end of the calendar year or the fiscal year 2 months. And thanks to that, estimating the amount of tax payable will do a better business. Such regulations also encourage enterprises to perform math and bookkeeping temporarily to be proactive in the process of implementing tax policies, to get rid of the financial regime.

2. The temporarily paid CIT amount of 4 quarters is not less than 80% of the payable amount according to the annual finalization?

Decree 91/2022/ND-CP with the notable point of amending regulations on temporary tax payment is as follows: “The total amount of temporarily paid corporate income tax for four quarters is not less than 80% of the corporate income tax amount. must be updated according to the decision of the year. In case taxpayers pay less than the amount of tax that must be temporarily imported for four quarters, they must pay a late payment interest on the underpaid tax amount from the day following the last day of the deadline for paying the fourth-quarter temporary corporate tax payment to the last day of the fourth quarter. Adjacent to the date of payment of the outstanding tax amount in the state budget.”

Thus, according to the new regulations, the total amount of temporarily paid corporate income tax of four quarters must not be lower than 80% of the corporate income tax amount that must be summed up according to the annual finalization.

 

PHAM CONSULT is a unit specializing in providing tax consulting services, financial consulting, accounting services, preparing and paying salaries. Customers can contact us via hotline: (84-28) 3930 2487 or Facebook communication channel: http://bit.ly/phamconsult if you need support.