This circular stipulates the collection of business income tax for the banking industry, determines the basis for calculating tax and deadlines for payment by commercial banks and development investment banks.
Đối tượng áp dụng
Commercial banks and development investment banks at provincial, municipal, and centrally-administered city levels
Các điểm cốt lõi
- Commercial banks and development investment banks must pay business income tax based on the total interest earned from loans and deposits (Article 1).
- The deadline for paying business income tax is no later than the 5th of each month; banks must declare taxable revenue and submit it to the provincial/municipal treasury at their headquarters location by no later than the 15th of the following month (Article 3).
- Savings losses are handled separately according to the guidelines in Circular No. 3755-VP/HĐBT issued in 1990.
- Banks must pay business income tax into the provincial/municipal treasury at their headquarters location (Article 2).
- The form for declaring taxable revenue is specified in Circular No. 45-TC/TCT of the Ministry of Finance.
🌐 Tác động xã hội từ văn bản này
- Increase budget revenues from banking operations.
- Affected commercial banks and development investment banks must fulfill tax obligations as prescribed.
- Help closely manage cash flows and enhance transparency in banking financial activities.
❓ Câu hỏi thường gặp
On what basis should commercial banks pay business income tax?
Based on the total interest earned from loans and deposits (according to Article 1).
When is the deadline for paying business income tax?
No later than the 5th of each month, and must be submitted to the provincial/municipal treasury at the bank's headquarters location by no later than the 15th of the following month (according to Article 3).
Which banks does this circular apply to?
It applies to commercial banks and development investment banks at provincial, municipal, and centrally-administered city levels.
Toàn văn
LETTER
OF THE MINISTRY OF FINANCE NUMBER 467-TC/TCT DATED APRIL 13, 1991 REGARDING
COLLECTION OF BUSINESS INCOME TAX FOR BANKS
...
1. The basis for calculating business income tax of banks is the total interest revenue from loans and deposits (based on full interest rates), which means the interest revenue recorded in the "Credit" side of account 960 (interest income) and the "Credit" side of account 912, as well as other revenues such as price adjustment gains, joint venture contributions, foreign exchange business operations, fees, and commissions from banking services.
2. The entities subject to business income tax are commercial banks and development investment banks at provincial and centrally-administered city levels, which must pay the tax into the provincial or municipal treasury where their headquarters is located. 3. Deadline for payment of business income tax: by no later than the 5th day of each month, banks must declare the taxable revenue from the previous month according to the form prescribed in Circular No. 45-TC/TCT issued by the Ministry of Finance and pay the tax due from the previous month into the state budget by no later than the 15th day of the following month.
4. Regarding the deduction for savings losses, it shall be handled separately according to the spirit of Letter No. 3755-VP/HĐBT dated November 15, 1990 issued by the Office of the Council of Ministers.
Article 4. Regarding the loss of savings to be handled separately in accordance with Circular No. 3755-VP/HĐBT dated November 15, 1990, issued by the Office of the Council of Ministers.
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