Things to note about the latest Tax Administration Law

To strictly manage taxes, the Tax Administration Law was promulgated and amended and supplemented. What is the latest Tax Administration Law in 2024? What contents does the Tax Administration Law contain that need attention? Below are the most notable contents of the Tax Administration Law that readers can look forward to specific answers!

1. What is the latest Law on Tax Administration in 2024?

Up to now, the latest Tax Administration Law is the Tax Administration Law 2019, issued on June 13, 2019 and effective from July 1, 2020.

2. What are the outstanding contents of the Tax Administration Law 2019?

2.1. Applicable subjects

(i) According to Article 2 of the Law on Tax Administration 2019, taxpayers include:
– Organizations, households, business households, and individuals pay taxes according to the provisions of tax law.
– Organizations, households, business households, and individuals pay other revenues belonging to the state budget.
– Organizations and individuals withhold tax.

(ii) Tax administration agencies include:
– Tax authorities include the General Department of Taxation, Tax Department, Tax Branch, and Regional Tax Department.
– Customs authorities include the General Department of Customs, the Customs Department, the Post-Customs Clearance Inspection Department, and the Customs Branch.

(iii) Tax administration officials include tax officials and customs officials.
(iv) State agencies, other relevant organizations and individuals.

An Introduction to Tax Laws

2.2. Principles of tax administration

Pursuant to Article 5 of the Law on Tax Administration 2019, tax management needs to ensure the following principles:

(i) All organizations, households, businesses, and individuals have the obligation to pay taxes according to the provisions of law.

(ii) Tax administration agencies and other state agencies assigned to manage revenue shall carry out tax administration in accordance with the provisions of the Law on Tax Administration 2019 and other relevant laws, ensuring openness, transparency, equality and ensuring the legitimate rights and interests of taxpayers.

(iii) Agencies, organizations and individuals are responsible for participating in tax management according to the provisions of law.

(iv) Implement administrative procedure reform and apply modern information technology in tax management; Apply tax management principles according to international practice, including the principles of the nature of activities and transactions that determine tax obligations, principles of risk management in tax management and other principles consistent with the law of Vietnamese conditions.

(v) Apply priority measures when carrying out tax procedures for exported and imported goods according to customs laws and Government regulations.

2.3. Tax exemption and tax reduction

According to Article 79 of the Law on Tax Administration 2019, tax exemption and tax reduction are prescribed as follows:

(i) Tax exemption and reduction are implemented in accordance with the provisions of tax law and clause (ii) of this Section.
(ii) Tax exemption for the following cases:
– Households and individuals who pay tax on non-agricultural land use have an annual tax payment of 50,000 VND or less.
– Individuals whose tax amount must be paid annually after finalizing personal income tax from salary or wages of 50,000 VND or less.

Everything to Know About Tax Evasion and Avoidance

3. Violating tax laws is punishable by up to 7 years in prison

Anyone who commits tax evasion can constitute the crime of tax evasion with a penalty of up to 7 years in prison (Article 200 of the 2015 Penal Code, amended and supplemented 2017).

In addition, offenders may also be fined from 20 – 100 million VND, banned from holding certain positions, practicing certain professions or doing certain jobs for 01 – 05 years or confiscating part or all of their assets…

Organizations and individuals whose violations of tax law are not serious enough to be prosecuted for criminal liability will be administratively handled according to the provisions of Decree 129/2013/ND-CP for common violations. following variable:

  • Fine from 400,000 VND – 2 million VND for late submission of tax registration documents, slow notification of changes in information in tax registration documents compared to the prescribed deadline.
  • Fine from 400,000 VND – 3 million VND for incomplete declaration of information in tax records.
  • Fine from 400,000 VND – 5 million VND for late submission of tax returns compared to the prescribed deadline.
  • Fine from 800,000 VND – 5 million VND for violations of regulations on compliance with tax inspection and inspection decisions, enforcement of tax administrative decisions.

Above are the points you need to know about Tax Management in 2024. For the fastest updates on tax and accounting legal documents, readers are invited to visit the S4B Vietnam website every day. If you still have further questions, please contact our hotline for support.

S4B Vietnam

  • Address: Unit 602A, Tower A, Handi Resco Office Building. 521 Kim Ma Street, Ba Dinh District, Hanoi
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