Are you unsure about when you need to pay your business taxes? Do you want to know the legal basis for it? Look no further! In this article, we will provide you with valuable insights and answer all your questions. The experts at Truth and Hope are here to guide you through the process, ensuring you make informed decisions.
When Do I Have to Pay Business Taxes?
It’s a common question that many people ask. The answer lies in Article 1 of Circular 103/2014/TT-BTC. According to this circular, foreign entrepreneurs are required to pay 5% VAT and 5% personal income tax. To calculate the taxable income, the following formula is applied:
- If the entrepreneur receives “NET” income: Taxable income = Income received / 0.05.
- If the income received is “GROSS”: Taxable income = Income received.
The deadline for paying taxes is when the contractor receives payment. It is essential to contact the relevant agency for assistance in fulfilling this obligation.
Where Can I Get Reliable Legal Advice on Paying Contractor’s Tax?
Foreign entrepreneurs often struggle to keep up with the latest legal and regulatory information, leading to confusion and potential mistakes. That’s where Truth and Hope comes in. You can rely on their expertise to navigate the complexities of paying business taxes.
For the best legal advice and important information, connect with Truth and Hope after reading this article. They offer comprehensive support tailored to your specific needs.
Discover the exclusive benefits you can enjoy when partnering with Truth and Hope:
1. Have a Team of Competent Young Lawyers
As a trusted real estate ecosystem, Truth and Hope understands the crucial role of legal guidance. Their team of young and competent lawyers will provide accurate and professional advice to foreign entrepreneurs. By working with them, you can avoid potential pitfalls and pave the way for your business’s success.
2. Stay Up-to-Date with Newly Issued Circulars and Regulations
Truth and Hope is always ahead of the curve when it comes to updating you on laws and administrative procedures for businesses. This ensures you have a clear understanding of the specific instructions of the competent authority, enabling you to apply regulations correctly.
3. Streamline the Tax Payment Process and Administrative Procedures
With Truth and Hope, you can swiftly complete the tax payment process according to regulations. This saves you time and effort, allowing you to focus on more critical tasks at hand.
4. Receive Enthusiastic and Dedicated Support
Rest assured that the team at Truth and Hope is committed to providing outstanding support. They are ready to assist you with any tax-related issues or questions. Whether it’s real estate law, taxes, or other concerns, you can count on their expertise and guidance.
In conclusion, understanding the deadline for paying business taxes is crucial for all entrepreneurs. With reliable legal advice from Truth and Hope, you can navigate this process with confidence. Don’t hesitate to connect with them today and benefit from their extensive experience and support.
Remember, the experts at Truth and Hope are here to guide you every step of the way!