What does the monthly and year-end tax report include?

What does the monthly and year-end tax report include? According to regulations, every month the company needs to make a full tax declaration to the Tax authority. So what procedures are needed and how to proceed? If you do not clearly understand tax reports by month and year, please refer to the following information with Yes Office.

Monthly and year-end tax reports include the following information: What?

For companies and businesses operating in business, tax declaration and financial reporting are mandatory. So what is needed to make monthly and annual tax reports?

Types of tax reports submitted monthly and quarterly

Currently according to state regulations, companies and businesses need to declare monthly and quarterly tax reports such as after:

1. Value Added Tax (VAT)

Each company and business should clearly determine whether they need to declare this type of value added tax on a monthly or quarterly basis, and do so. Declare with deduction or directly. Based on that, you can select and prepare the appropriate declaration to submit.

Suggestions for businesses that have just started operations should choose quarterly tax declaration. As for businesses that have been in business for a long time, depending on their high or low annual income, they choose to declare monthly or quarterly. Based on that, it is possible to determine whether businesses should declare taxes by deduction or directly. Businesses need procedures that just need to learn and follow the regulations.

2. Personal income tax

A type of tax that businesses need to declare properly is individual income tax. Similarly, with this type of tax, businesses should also determine whether it is more convenient to declare monthly or quarterly. Based on value-added tax, if an enterprise declares quarterly, personal income tax is also required to be declared quarterly. For the option to declare personal income tax monthly, based on the personal income tax level below or above 50 million monthly to choose the declaration type. Income tax rates below 50 million are declared quarterly, while those above 50 million are declared monthly, which is more convenient. All necessary procedures are followed by businesses in accordance with regulations. SEE MORE:

• Full accounting service package
• Last Financial Reporting Serviceyear
• Initial 2022 tax return

3. Corporate income tax

Corporate income tax is a type of tax that also needs to be declared in accordance with the regulations. The time when businesses need to collect all documents and books related to the business's finances and income for declaration. Businesses only need to fully pay their business's income tax on a quarterly basis, within the prescribed time limit.

4. Quarterly invoice usage report form

Enterprises selling any product need to submit a quarterly invoice usage report form. The report form is clearly specified according to form BC26 - AC, businesses just need to follow the correct form. https://www.youtube.com/watch?v=fV6ob4OS2C0 Enterprises, whether they are in business or have been in business for a long time, submit quarterly invoice usage reports. Except for other businesses listed as high tax risks, they will be required to pay monthly. Except for businesses that have not registered invoices, they do not need to submit reports. Regardless of whether your business has invoices or not, it still needs to submit reports on time. Above are the basic monthly and year-end tax reports for businesses. In some other cases that require additional taxes such as tax deduction report forms, special consumption taxes, import-export taxes, businesses only need to make additional declarations according to regulations. 

When are the deadlines for submitting tax reports?

In addition to learning about monthly and year-end tax reports as above, businesses need to clearly understand the submission time regulations. 

• For businesses that declare taxes monthly, the latest deadline for submitting all types of reports is the 20th of the month later.
  • For example, at the end of January, businesses that need to declare taxes can submit the report no later than February 20.
• For businesses that declare taxes quarterly, the latest deadline for payment including all documents and reports is the 30th day of the first month of the following quarter.
  • For example, the end of the first quarter onOn March 30, businesses need to declare quarterly taxes no later than April 30.

It is best for businesses to update their reporting schedule. Different types of taxes by month and quarter have been clearly specified for ease of implementation. Besides, for more detailed advice on accounting services to help declare and submit full tax reports on behalf of businesses, please contact Yes Office directly for answers.

See more : Steps to start a business

In addition, if you want to start a company, you need preparation steps following:

• You complete the company registration procedures with the Department of Planning and Investment.  
•  You need an address to register as a company headquarters. This must be a private home or virtual office address, cannot use an apartment address.
•  After establishing the company company, you need to periodically declare taxes to the General Department of Taxation (quarterly), regardless of whether your company generates revenue or not.
• You need to invest in marketing, to find new customers and develop a sustainable business. You need a brand identity (name, logo, colors, symbols, slogan...) and supporting digital marketing solutions (setting up a website, running Google, Facebook ads, SEO, investing in Content Marketing, Email Marketing...).

Yes Office virtual office service always accompanies you to solve the above problems.

• When completing company registration procedures, Yes Office helps you complete the procedures The state is cumbersome and complicated. You just need to pay us the correct amount as the business registration fee with the General Department of Taxation (there is a red invoice from the Tax Department if you need to compare). As for the service fee, we would like to give it to you.
• You don't need to rent a large space, you just need to rent a virtual office to establish a company. The cost of renting a virtual office is very reasonable. Yes Office is located in a prime location, right on Nguyen Hue flower street, district 1, with the address 68 being a feng shui number.
• Yes Office always has tax experts with many years of experience to provide FREE consultation. FEES for your fledgling company. When you rent a virtual office at Yes Office and also use our tax services, every tax declaration process becomes even more convenient.profit.  
• We have many years of experience in designing SEO-standard websites, building brand identities, and implementing effective digital marketing activities through Google and Facebook channels, bringing great economic efficiency to businesses.

Please contact us immediately for free consultation via hotline: 0942 688 339.