Most newly established companies need to carry out initial procedures related to taxes, these procedures are to provide state agencies with information about new businesses as well as strictly control related to tax collection. In the article below, Viet My Accounting sends readers details about the latest tax procedures for newly established companies so that readers can fully grasp the related processes.

1. How many types of taxes do businesses have to pay?

Tax is a mandatory financial expense applied to individuals and legal entities today. Tax is paid to the state to pay for various public works of the country. Therefore, paying taxes is the obligation of all people, in order to build a stronger country in the future.

Tax is divided into two main groups: direct tax and indirect tax, these two groups of taxes have different characteristics as follows:

Direct tax is a tax levied directly on the benefits and income of the business. The tax-paying business is the direct subject of the tax. Direct taxes on enterprises such as business license tax, corporate income tax, personal income tax, inheritance tax, property tax, etc.

Indirect taxes are indirect taxes levied through enterprises on consumer products today. Enterprises are the entities that pay taxes to state agencies, but the person who pays for the product will be the one who bears this tax. Therefore, it can be seen that indirect taxes are taxes that are not paid by enterprises but only collected from people through enterprises. Examples of some types of indirect taxes: VAT, import and export tax, special consumption tax, etc.

Currently, there are many types of taxes that arise during the operation process that enterprises need to pay. However, when declaring taxes for newly established enterprises, it is necessary to pay attention to the following 4 types of taxes: Business license tax, value added tax, corporate income tax and personal income tax.

2. Tax procedures for newly established companies in 2025

Immediately after completing the business establishment procedures, the Business Registration Office will issue a Business License and a code (this is also the tax code of the enterprise). Next, the enterprise must carry out tax-related procedures as soon as possible because later the enterprise still has a lot of work to prepare as well as avoid overdue items that will be fined and this should not happen at all.

Step 1. Open a bank account and register to buy a digital signature

Almost all tax offices now accept tax declarations and electronic tax payments. Therefore, enterprises need to have a bank account and token to be able to declare taxes for newly established enterprises and pay taxes. This will make it more convenient for businesses to pay taxes without having to move around a lot, as well as make it easier for tax authorities to manage because the data is updated regularly and can be viewed automatically at any time.

To open a bank account, businesses need to contact the bank’s customer service department or go directly to the bank where the business wants to open an account to carry out the procedures according to the process.

To save time, the next day after opening a bank account, businesses continue to register to buy a digital signature. Currently, there are many companies that provide different tokens, but to enjoy good customer care and quick technical handling when problems arise, businesses should choose large, reputable brands such as Viettel, FPT, VNPT, etc.

To complete this step, businesses need to register a bank account with the local Department of Planning and Investment within 10 days. If the deadline is overdue, businesses will be administratively fined according to state regulations.

Step 2. Submitting the declaration and paying the business license tax

The next step in the tax declaration process for a newly established company is to declare and pay the business license tax according to the provisions of law. The business license tax rate is based on the type and charter capital or revenue of the company. Currently, to support newly established businesses, the state has issued a law exempting newly established companies from tax for at least one year. Therefore, in this step, new businesses only need to submit the business license tax declaration.

There are 2 ways to declare the business license tax:

• Declare online: businesses can declare on the HTKK software or the electronic tax website. When it is necessary to pay taxes, businesses can pay online using the bank account created in step 1.
• Declare directly: businesses can directly submit the business license tax declaration to the tax authority, but before submitting, businesses should contact that tax authority to make sure that the paper declaration is accepted. Because currently, tax offices only accept declarations online.

Note, businesses must submit their business license tax declarations before the 30th day of the month in which the business begins operations. For businesses that have not yet operated, the latest time to submit the declaration is 30 days after receiving the decision to establish the company – the date of the decision to establish the company is the date on the business registration certificate.

Step 3. Choose the method of declaring VAT, CIT, PIT, invoices

After completing the above step, the enterprise needs to submit a declaration of value added tax for newly established enterprises, corporate income tax, personal income tax to be able to fulfill tax obligations later.

The above taxes are the taxes that the company must pay when it is still operating and must pay periodically such as monthly or quarterly. For newly established enterprises, it is mandatory to declare taxes for newly established enterprises quarterly, not monthly. When meeting the conditions, the company can register or pay taxes monthly according to the provisions of law.

Regarding the method of calculating taxes, there are 2 methods of calculating taxes that must be paid: deduction and direct. Newly established companies will be applied the deduction method by default. If the company wants to change the form to direct, it can register for a change with the local tax authority.

When declaring deduction taxes, it will be related to electronic invoices. If your business does not have one, you need to contact suppliers such as VNPT, Viettel… to buy electronic invoices and complete the procedures for issuing electronic invoices before using them.

For direct tax declaration, new businesses need to go to tax offices to buy purchase invoices for use in this form.

The deadline for submitting tax declaration documents for newly established businesses is the 30th of the first month of the following quarter.

Step 4. Choosing the accounting form and depreciation method of enterprise assets

Accounting form is a system of interrelated accounting books used to summarize and store information from the original documents of the enterprise in a certain order and method to provide information for preparing business reports.

Depreciation of enterprise assets is the systematic valuation of assets owned by the enterprise after the asset is worn out over time. This is to help the enterprise preserve the best fixed capital when the asset expires; as an important basis for calculating investment, reproduction; …

For the selection of accounting form and depreciation method of enterprise assets, there will be many methods and many complex formulas. Business owners also need to be carefully consulted to be able to make the most correct choice.

3. Do newly established enterprises that have not yet generated revenue have to report taxes?

Currently, many newly established enterprises are still quite new to understanding legal procedures related to tax issues, because they are not familiar with tax procedures and fees. So after the newly established company is established, what should it do with the regulations on monthly, quarterly and annual tax declaration and reporting to submit to state agencies?

With this question, newly established enterprises are given priority to make initial tax declarations quarterly in the year without having to do it monthly, which creates conditions for enterprises to have time to prepare and learn about tax declaration procedures.

In addition, many enterprises also wonder: “Do newly established enterprises that have not yet generated revenue need to report taxes or not?”

Pursuant to Clause 1, Article 16 of Circular No. 156/2013 of the Ministry of Finance guiding the Law on Tax Administration, which stipulates tax declaration and payment, in the case of monthly and quarterly tax declaration, the enterprise organization needs to pay income that does not generate personal income tax deductions, it does not have to declare tax.

Also based on Article 7 of Decree No. 126/2020 of the Government, which stipulates cases where enterprises do not need to submit tax declaration dossiers, including:

In case of business activities that are not subject to tax according to the provisions of the law on taxes for each type of tax. That is, depending on the type of tax, the enterprise must pay tax.

In the case of an export processing enterprise that only imports, it is not necessary to submit tax declaration dossiers when there is no revenue.

Thus, through the above details, the decision to establish a new enterprise without input and output invoices must still report taxes depending on each specific type of tax.

Tax declaration for newly established enterprises is one of the mandatory procedures to be able to put the enterprise into operation. Therefore, new enterprises need to proactively carry out the complete initial tax declaration procedure immediately after the decision to establish the enterprise.

Above is the latest information on Tax procedures for newly established companies. Please contact VIET MY LAW AND ACCOUNTING immediately if you have any further questions about tax procedures and processes.