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With our help behind you, you can efficiently control your business ventures. We are specialized in proactively managing your tax and accounting issues as well as able to give you in-depth analysis about how your upcoming opportunities are likely to affect your tax.

We are here to support you and guide you through the step-by-step process of business and financial needs for your business.

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MAKE DIFFERENT IN THIS TAX SEASON

Our expertly tuned business insight will ensure you always make the best decision for your company, offering you a unique perspective to allow you to cover all the angles.

Work with us, and you will work with seasoned professionals – vigilant of deadlines and committed to exceeding client expectations.

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PEACE OF MIND WITH OUR PROFESSIONAL SUPPORT IN ALL ACCOUNTING MATTERS

We always seek to providing services in the most professional manner. Our dedication given to clients manifests itself through common goals, respect, and fulfilment of our commitments.

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Smart Solutions For Business Company Limited ('S4B') is a company established in 2007

The company is specialized in providing professional accounting and tax compliance services to foregin
invested companies in VietNam, especially the newly set up ones

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ACCOUNTING SERVICES

Our team of consultants have an excellent handle on the changing local laws; it brings good value, high quality and practical advice to our clients

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Tax compliance services

With a thorough understanding of Vietnamese Tax Systems and regulations, we will assist you greatly in managing all of the intricate details in local jurisdictions

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POST ESTABLISHMENT REGISTRATION AND SUPPORT

With a full range of high standard services provided at competitive fees, we help clients save significant costs during their first years of operations.

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OTHER COMPLIANCE SERVICES

We update the latest developments in Vietnamese taxation laws and advise on the most effective ways to structure their operations in Vietnam.

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Human Resource (HR) Consultancy Service

We provide a variety of HR Services for small- to mid-sized companies which need immediate and professional solutions that drive value to their business.

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Building business

With a team of professional and extensive experienced members, who have long experience in serving international firms, we always make our clients satisfied with our high quality of services and professional manner.

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Our processes and compliance standards ensure our clients receive accurate, reliable and meaningful financial statements. Our core services can help companies of all sizes with payroll, accounting and tax– whether a company wants to globalize, or whether they need support to streamline existing operations.

Perfect customer

We are proud to assist and support our clients who are known as the big names with long-term commitments. We are now set to focus on exceeding our client’s expectations and delivering on the promises we make.

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Our key clients include: CISCO, HSSV, ICAEW, NES, WESTCON

LATEST NEWS

New sanction levels for late submission of tax return

The Vietnamese government issued Decree 125/2020/ND-CP (Decree 125) on October 19, 2020 listing several penalties and administrative fines for breaches in tax and invoicing regulations. The Decree has come into effect since December 5, 2020.

In accordance with the Decree 125, late submission of tax returns shall incur higher fine. To avoid the fine, the tax payer, accordingly, needs to strictly follow the DEADLINE FOR SUBMISSION OF TAX RETURNS as regulated at the Article 44 of the Law on Tax Administration 2019 by the Vietnam National Assembly.

The new sanction levels for violations against regulations on the deadline for submission of tax return dossiers under Article 13 of Decree 125/2020/ND-CP are as below:

No.	Types of violations	Level of fines
1	Filing tax returns from 01 to 05 days later than the regulated deadline under mitigating circumstances.	Warning from Tax Authority
2	Filing tax returns from 01 to 30 days later than the regulated deadline, except the case specified in item 1 as above	A fine ranging from VND 2,000,000 to VND 5,000,000
3	Filing tax returns from 31 to 60 days later than the regulated deadline	A fine ranging from VND 5,000,000 VND to VND 8,000,000
4	4.1/ Filing tax returns from 61 to 90 days later than the regulated deadline	A fine ranging from VND 8,000,000 to VND 15,000,000
	4.2/ Filingtaxreturnsfrom91dayslaterthantheregulateddeadlineifnone of tax liability incurred
	4.3/ Failing to submit any tax returns and no incurring taxes
	4.4/Failing to submit the supplement dossiers under regulations on tax administration for enterprises having related party transactions enclosing with the corporate tax finalization dossier.
5	Filing tax returns more than 90 days later than the regulated deadline and such act results in additional taxes to be paid, and the taxpayer has fully paid taxes, deferred amounts into the state budget before the time of the tax authority’s announcement of the decision on tax inspection and examination, or before the time of the tax authority’s issuance of the report on the deferred submission of tax returns under the provisions of clause 11 of Article 143 in the Law on Tax Administration.	A fine ranging from VND 15,000,000 to VND 25,000,000
5		If the fine applied under this clause is greater than the amount of tax arising on the tax declaration dossier, the maximum fine amount is equal to the payable tax amount but not less than VND 11,500,000
6	Remedies - Compelling the full payment of deferred tax amounts into the state budget if the taxpayer delays filing their tax return, leading to the late payment of taxes; - Compelling the submission of tax returns, enclosing with supplement dossier, for acts as stated at 4.3 and 4.4 above

Note: For a tax or invoice-related administrative violation, if an entity commits such violation, they must be fined two times as much as the amount of penalty imposed on persons. The above fines are applicable to organizations (Pursuant to Clause 5, Article 5 and Point a, Clause 4, Article 7 of Decree 125/2020 / ND-CP)

Time limits for imposition of tax-related administrative penalties

Pursuant to Point a, Clause 2, Article 8 of Decree 125/2020 / ND-CP, time limit for imposition of penalties for administrative violations against regulations on tax-related procedures shall be 02 years from the date of commission of these violations.

- For cases 1, 2, 3, 4.1, 4.2, the date of commission of any of these acts which is accepted as the start date of that time limit shall be the date on which taxpayers apply for tax registrations or notify tax authorities or file tax returns.

- For cases 4.3 and 4.4, the date of commission of these acts which is accepted as the start date of that time limit shall be the date on which competent law enforcement officers detect these acts.

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Smart Solutions For Business Company Limited ('S4B'), a company established in 2007 specializing in providing professional accounting and tax compliance services to foreign invested companies in Vietnam, are pleased to assist customers to review their accounting records, prepare annual financial statements as well as conduct corporate income management with the aim of paying tax properly and sufficiently for tax administration agencies. The brief introduction of the services is attached herewith for your information.

In case you would like to have more details about our scope of work or need any supports/assistance from us, please do not hesitate to contact us directly at service@s4b.com.vn or +84 24 3974 4181.

Thank you and Best Regards,

Deadline for submission of tax returns

Pursuant to Article 44 of the Law on Tax Administration 2019, the deadline for tax return submission is regulated as below:

No.	Period	The deadline for submission of tax returns
1	The deadline for submission of monthly/quarterly tax return	No later than the 20th of the following month for those who apply the monthly declaration and payment
		No later than the 30th of the following quarter for those who apply the quarterly declaration and payment
2	The deadline for submission of annual tax return	No later than the last day of the 3rd month from the end of the calendar year or fiscal year, for annual tax finalization dossiers; No later than the last day of the first month of the calendar year or fiscal year, for annual tax declaration dossiers.
		No later than the last day of the 4th month from the end of the calendar year, for personal income tax finalization dossiers regarding the case of self-finalization with Tax Authority
		No later than the December 15th of the preceding year, for business households or individuals who apply flat tax rate; In case of new business households or individuals, the deadline for submitting tax dossiers is within 10 days from the commencing date of businesses.
3	The deadline for submission of tax declaration per case is no later than the 10th day from the date of arising tax obligation.
4	In case of submission of dossiers for termination of business operation, contract termination or reorganization, the deadline return is no later than the 45th day from the date of the event execution.
5	The deadline for submission of tax declaration dossiers for agricultural land use tax; non-agricultural land use tax; land use fees; land rent, water surface rent; charges for granting mineral mining rights; fee for granting the right to exploit water resources; registration fee; license fees; payment to the state budget in accordance with the law on management and use of public assets; Inter-country profit reports are detailed in Article 10 of Decree 126/2020 / ND-CP.
6	The deadline for submission of tax declaration dossiers for imported and exported goods is in accordance with the Law on Customs 2014.

In accordance with the Decree 125, in case that the Company fails to meet the set deadline for submission of tax returns under Law on Tax Administration 2019, the Company shall be subject to tax recollection and tax penalty as well. The amount of fines depends on the number of days you are late to submit the declaration and/or payment, ranging between VND 2,000,000 and VND 25,000,000.

Click here to check THE NEW SANCTION LEVELS APPLIED TO ADMINISTRATIVE VIOLATIONS for further information.

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Smart Solutions For Business Company Limited ('S4B'), a company established in 2007 specializing in providing professional accounting and tax compliance services to foreign invested companies in Vietnam, are pleased to assist customers to review their accounting records, prepare annual financial statements as well as conduct corporate income management with the aim of paying tax properly and sufficiently for tax administration agencies. The brief introduction of the services is attached herewith for your information.

In case you would like to have more details about our scope of work or need any supports/assistance from us, please do not hesitate to contact us directly at service@s4b.com.vn or +84 24 3974 4181.

Thank you and Best Regards,

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