What is the tax accountant ?

Tax accountant is an accountant in charge of tax declaration issues in the business. Tax accounting is the obligation of businesses to the state. The state can only manage the multi-sector economy when there is tax accounting. On the contrary, businesses can only do stable business and favorable tax reporting when making clear tax issues.

Daily work of tax accountant

The daily tasks of tax accountants are to collect and process arising invoices and documents, and conduct accounting for documents such as:

– Output and input invoices

– Pay tax if there are payable taxes to avoid penalties for late payment.

– Accounting for transactions related to money coming and going in the bank.

– Based on the payment slips, receipts, money payment slips into the State budget, account the fund operations.

– Check the correctness and reasonableness of the invoices. Check if the information on the invoice is incorrect.

– Organize invoices and documents, store, preserve carefully and follow a logic to easily find when needed.

Monthly job of tax accountant

1. Every month, tax accountants need to declare necessary taxes such as:

+ Value added tax for businesses with revenue of VND 50 billion or more.

+ Personal income tax for businesses that incur a PIT amount of VND 50 million or more.

+ The deadline for submitting monthly declarations is the 20th of the following month.

2. Making entries for allocation of tools and equipment, depreciation of fixed assets

3. Check employee records, make  labor contracts, register  tax codesãfor employees.

4. Balance and check the targets on the balance sheet, avoid putting work to the end of the year.

Quarterly work of tax accountant

1. At the end of the tax accounting quarter, it is necessary to make the necessary declarations such as:

+ Declaration of value-added tax: For newly established businesses, or with revenue < 50 billion VND.

+ Personal income tax declaration: For businesses with personal income tax < 50 million.

Note:  The corporate school has no employees to the extent of paying PIT. The enterprise only needs to make the final settlement at the end of the year.

+ Report on invoice usage

2. The deadline for submitting quarterly declarations is the 30th of the month following that quarter.