On 13/06/2019, the National Assembly passed the revised Law on Tax Administration in 2019 and will officially take effect from 01/07/2020.
Accordingly, the amended Law on Tax Administration in 2019 has some outstanding new features affecting tax administration activities of Vietnamese tax authorities in the coming time, as follows:
1. Regulations on tax administration for e-commerce activities.
In the trend of e-commerce business activities are growing more and more widely, online business applications are increasingly popular in the learning and working life of the people, the construction and issuance of regulations Tax administration in this area is essential.
Although the provisions of the revised Law on Tax Administration are only guiding regulations, however, it serves as a foundation, a basis for the relevant ministries and agencies to issue detailing tax administration for e-commerce business activities
2. Extension of personal income tax settlement
According to the current provisions in Clause 2, Article 32 of the Law on Tax Administration 2006, the deadline for submission of tax finalization dossiers is the 90th day after the calendar year end date or the fiscal year for the yearly settlement dossiers. .
However, the new law allows individuals to apply for tax finalization within a period of 120 days from the end of the calendar year – extended by 1 month from the 120-day deadline from the end of the positive year. calendar – 1 month longer than the balance of the business.
3. Regulating the responsibility of providing information of commercial banks
In order for tax administration to take place effectively, the amended Tax Administration Law 2019 officially stipulates that commercial banks are responsible for providing transaction contents through accounts, account balances of taxpayers within the time limit. ten (10) working days from the date of receipt of the request for information from the tax administration agency;
Thus, the amended Law on Tax Administration in 2019 has contributed to facilitating the implementation of tax declarations by taxpayers, while expanding the scope of tax administration to e-commerce activities and fixing responsibilities providing information of commercial banks to create favorable conditions for tax administration activities to take place effectively, especially in the context of digital economy and international integration.