The corporate tax department usually performs the following jobs:
1. The job at the beginning of the year to do
- Declare and pay the license tax at the beginning of the year.
+ The deadline for paying license tax is January 31.
+ If the company is a newly established company, then submit the declaration and license tax within 30 days from the date of business license.
+ If the company has a change in capital, the deadline to submit the license tax declaration is December 31of changing year.
- Submit VAT and PIT return in December or the 4th quarter of the previous year. If declared monthly, the deadline is January 20. If quarterly, it is January 30.
- Submit the corporate income tax return for the 4th quarter of the preceding year
- Submit the report on the use of invoices in the 4th quarter of the preceding year
- Submit financial statements, CIT finalization, PIT finalization of the preceding year: The deadline is March 31.
2. Daily work to do
- Record, collect, process and store accounting invoices and documents:
+ When the enterprise has transactions, such as buying and selling goods... the job of the accountant is to collect all relevant invoices and documents (output, input) to use as a basis for tax declaration and accounting.
+ After the related invoices and vouchers have been compiled, the tax accountant must proceed with the processing and check whether the invoices are valid and reasonable or not.
+ If detecting that the VAT invoice is incorrectly written or the invoice is illegal, the accountant must immediately handle it according to the provisions of Circular 39/2014/TT-BTC and other relevant legal documents.
+ Make collection receipts, payment receipts, sales invoices, release notes... necessary for the day.
- Record the cash books, bank books, and other necessary books.
+The vouchers that are not used for bookkeeping, are kept for 5 years.
+ Vouchers for book entry and accounting are kept for 10 years.
+ Vouchers and records of special importance to be permanently preserved.
3. Monthly work
- Prepare monthly VAT declaration (if the company declares VAT on monthly basis).
- For output invoices, the month that arises must be listed in that month. Since January 1, 2014, input invoices are not subject to the restriction on declaration time but must be declared before the tax authority has an inspection decision.
- Prepare a monthly PIT return (If the enterprise declares VAT a monthly basis and has the PIT amount payable in the month).
- Make other tax returns, if any.
- Make monthly reports on the use of invoices (For newly established businesses less than 12 months).
- The deadline for submitting the declaration is the 20th of the preceding month
- Note: If there is a tax payable in a month, the deadline for submitting the declaration is also the deadline for paying tax
4. Quarterly work
- Make quarterly VAT declaration (If the company declares VAT quarterly)
- Prepare a temporary tax return for calculating CIT on quarterly basis.
- Make a quarterly report on the use of Invoices.
- Make quarterly PIT return (If the company declares on quarterly basis).
- The deadline for submitting the above declarations is the 30th of the first month of the following quarter.
5. Year-end work
- Prepare tax reports for the last month of the year and tax reports for the 4th quarter.
- Prepare annual PIT finalization report.
- Prepare annual CIT finalization report.
- Cash count, inventory and assets stocktaking, debt reconciliation.
- Make an accounting book, compare detailed books and general books.
- Prepare annual financial statements including: Balance Sheet, Profit and Loss Statement, Cash Flow statements, Notes to the financial statements, Balance Sheet Accounts statement.
- Print accounting books and vouchers and have them signed.
- Archive documents, vouchers, and accounting books.