How will late payment of fines for tax or invoice-related administrative violations be fined?

Pursuant to Article 42, Decree 125/2020/ND-CP, the interest amounts on late payment of fines for tax or invoice-related administrative violations are calculated as follows:

1. Calculation of the interest amounts on late payment of fines

a) Any person or entity paying fines for tax or invoice-related administrative violations late shall be charged an interest amount on the deferred fine at the rate of 0.05%/day.

b) The number of days past due shall include statutory public holidays or days off and shall start from the date succeeding the deadline for payment of the fine and end on the date preceding the date of the entity or person’s payment of the fine into the state budget.

2. Late payment interest amounts shall not be charged in the following cases:

a) They shall not be charged during the pending period of the fine charge decision;

b) They shall not be charged during the interval before the fine charge decision is issued;

c) They shall not be charged if the fine amount is not due yet with respect to cases of permission for the installment payment of the fine.

3. In the case where the violating entity or person unwillingly pays the fine or the late payment interest amount into the state budget, the tax authority directly supervising that entity or person shall be responsible for notifying and pushing them to make the statutory payment.

As an established company in the field of tax and legal consulting, Vinasc hopes to adequately inform our customers to help them mitigate the risk during operation in Vietnam. Should there be any further concerns, please contact Vinasc’s Customer Care department for timely support.