HOW TO CALCULATE THE LATE PAYMENT OF TAX
Late tax payment interest is an amount that an enterprise must pay when there is a situation of late payment of tax. The amount of money for late payment of tax is determined based on the number of days of late payment, with different time limits for late payment, the determination of late payment is different. The following article aims to help businesses better understand this amount, thereby improving tax payment awareness.
Penalty for late payment of tax
Bài viết hiện tại: CÁCH TÍNH TIỀN CHẬM NỘP TIỀN THUẾ | ĐẠI LÝ THUẾ Q.P.T
For tax arrears arising from July 1, 2016, the late payment interest is calculated at the rate of 0.03%/day calculated on the late payment tax amount.
For tax debts incurred before July 1, 2016 but not yet paid after July 1, 2016, the calculation is as follows:
– Before January 1, 2015, late payment penalty and late payment interest will be calculated according to the number of days of late payment. If the number of days of late payment , If the number of days of late payment from date 91 onwards is 0.07%/day (Law on Tax Administration No. 78/2006/QH11, Law amending and supplementing several articles of Law on Tax Administration No. 21/2012/QH13)
– From January 1, 2015, late payment interest is calculated at the rate of 0.05%/day calculated on the late payment tax amount. (Law amending and supplementing a number of articles of tax laws No. 71/2014/QH13)
– From July 1, 2016, late payment interest will be charged at 0.03%/day.
Bài viết liên quan: Văn bản hợp nhất 01/VBHN-VPQH Luật thuế giá trị gia tăng 2016
How to calculate the penalty for late payment of tax?
a. Before January 1, 2015 the penalty for late payment of tax is as follows:
– If the number of days of late payment : Fine amount = Tax amount for late payment x 0.05% x Number of days of late payment
– If the number of days of late payment > 90 days: Fine amount = Tax amount for late payment x 0.07% x Total days of late payment – 90
b. From January 1, 2015 the penalty for late payment of tax is as follows: Fine amount = Tax amount for late payment x 0.05% x Number of days of late payment
c. From 1/7/2016 the penalty for late payment of tax is as follows: Fine amount = Tax amount for late payment x 0.03% x Number of days of late payment
Eg:
Enterprise A owes 100 million VND of VAT on the August 2014 VAT declaration (the declaration has been submitted on time to the tax authorities), the deadline for tax payment is September 22, 2014 (due to the date of 20/02). September 2014 and September 21, 2014, are holidays).
On August 20, 2016, A paid this tax amount to the state budget, the number of days of late payment was calculated from September 23, 2014 to August 20, 2016.
The amount of late payment of tax is calculated as follows:
– Before January 1, 2015, late payment interest is calculated according to the guidance in Article 34 of Circular 156/2013/TT-BTC:
+ From September 23, 2014 to December 21, 2014, the number of days of late payment is 90 days: VND 100 million x 0.05% x 90 days = VND 4.5 million.
+ From December 22, 2014 to December 31, 2014, the number of days of late payment is 10 days: VND 100 million x 0.07% x 10 days = VND 0.7 million.
– From January 1, 2015, to June 30, 2016, the number of days of late payment is 547 days. Late payment interest is calculated according to the guidance in Clause 9, Article 2 of Circular 26/2015/TT-BTC: 100 million VND x 0.05% x 547 days = 27.35 million VND.
– From July 1, 2016, to August 20, 2016, the number of days of late payment is 51 days, the late payment interest is calculated according to the guidance in Clause 3, Article 3 of Circular 130/2016/TT-BTC: 100 million VND x 0.03% x 51 days = 1.53 million VND.
The amount of late payment tax that A must pay is: updating = 34.08 million VND
Noted:
In case an enterprise declares insufficient tax for the tax period arising before July 1, 2016, but after July 1, 2016, the competent state agency discovers it through inspection or examination or the enterprise discovers it by itself. Then apply late payment interest at the rate of 0.05%/day (or the appropriate rate prescribed by legal documents from time to time) from the date of payment according to the provisions of law to the end of June 30, 2016, and according to the provisions of law. The rate of 0.03%/day is calculated on the under-declared tax amount from July 1, 2016, to the date, the enterprise pays it into the state budget.
Administrative fines for wrong tax declaration
– Enterprises that have wrongly declared tax, leading to a lack of payable tax amounts, voluntarily remedy the consequences by making additional tax declaration dossiers and paying full payable tax amounts before the time the tax authorities announce the decision on a tax audit. For tax inspection and tax inspection at the office, they only have to pay the late payment interest, but they will not be handled for tax administrative violations for the above-mentioned wrong declaration.
– In the opposite case, in addition to the underpaid tax amount and late payment interest, the enterprise will also be fined at the rate of 20% calculated on the understated tax amount as prescribed in Article 10 of Decree 129/2013/ Decree-CP stipulates on penalties for tax administrative violations and enforcement of tax administrative decisions.
Cases in which to pay Tax late payment interest
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Enterprises must pay late payment interest in the following cases:
– Late payment of tax compared to the prescribed time limit, the time limit for extension of tax payment, the time limit stated in the notice of the tax authority, the time limit stated in the decision on handling of tax violations of the tax authority, and the decision on tax payment. Handling decisions of competent state agencies.
– Underpaying tax due to incorrect declaration of the payable tax amount, exempted tax amount, reduced tax amount, refunded tax amount of previous declaration periods.
In addition, in the case of commercial banks, other credit institutions, and service organizations as prescribed by law, the State Treasury, tax authorities, and organizations authorized to collect the tax shall collect tax amounts, Late payment interest, fines of enterprises but late to pay the collected amount into the state budget, the above subjects must pay late payment interest calculated on the tax amount collected but not yet remitted to the state budget.
Good luck!
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