Corporate tax settlements
According to Circular 39/2018/TT-BTC of the Ministry of Finance stipulating customs management policies on forms of processing, export production, export processing, many modifications have been made in favour of Enterprises.
For final accounting report investigating activities and effective law compliance evaluation, the General Department of Customs draws local customs units’ attention to managing forms of processing, export production, export processing, strictly following guidelines on contents of final accounting report submission and receipt; final accounting report settlement; enterprise information collection, analysis and assessment, enterprise classification in accordance with Official Letter 1501/TCHQ-GSQL dated 29-2 of the General Department of Customs.
Your enterprises is facing difficulties in preparation of final accounting reports?
The enterprise falls in one of the following cases:
Data differences between accounting and export-import divisions result in tax arrears
For legal advice, please contact us:
For final accounting report investigating activities and effective law compliance evaluation, the General Department of Customs draws local customs units’ attention to managing forms of processing, export production, export processing, strictly following guidelines on contents of final accounting report submission and receipt; final accounting report settlement; enterprise information collection, analysis and assessment, enterprise classification in accordance with Official Letter 1501/TCHQ-GSQL dated 29-2 of the General Department of Customs.
Your enterprises is facing difficulties in preparation of final accounting reports?
The enterprise falls in one of the following cases:
Data differences between accounting and export-import divisions result in tax arrears
Abnormal data differences between final accounting reports and Customs agencies’ systems result in penalties
Late payment
The enterprise does not well understand declaration, use of imported materials and supplies for export commodity production
The enterprise has not updated old and new customs procedures
In addition, intensive requirements for internal enterprise management exist. However, through the management practices of the Customs agencies, the actual situations of enterprises’ production management with processing and export production activities are not the same. Some enterprises have an excellent internal management system, vice versa, some others do not maintain a regular internal management division, their production and business activities are reflected in accounting data via periodic outsourcing services
In fact, only 50% of enterprises have submitted annual final accounting reports on time for Export-Import – Processed commodities, etc. What are their causes?
Late payment
The enterprise does not well understand declaration, use of imported materials and supplies for export commodity production
The enterprise has not updated old and new customs procedures
In addition, intensive requirements for internal enterprise management exist. However, through the management practices of the Customs agencies, the actual situations of enterprises’ production management with processing and export production activities are not the same. Some enterprises have an excellent internal management system, vice versa, some others do not maintain a regular internal management division, their production and business activities are reflected in accounting data via periodic outsourcing services
In fact, only 50% of enterprises have submitted annual final accounting reports on time for Export-Import – Processed commodities, etc. What are their causes?
- It is the fact which surprises even internal staff, that is the habit of so many enterprises: “only when water reaches feet is a jump performed”
- No clear understanding of legal regulations on annual final accounting reports in accordance with Circular 38
For legal advice, please contact us:
Hotline: 028.3837.2363- 218
Mobile: 01638 72 7742
Email: marketing@duongminhvn.com
Mobile: 01638 72 7742
Email: marketing@duongminhvn.com
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