Updated at 04/07/2022 - 05:35 pm
After the end of the fiscal year, the places to submit the audited financial statements that enterprises need to pay attention to include. The article will introduce businesses to detailed information about this content.
Purpose of the preparation and presentation of financial statements #
Financial report used to provide information about the financial position, business situation and cash flows of an enterprise, meeting management requirements of business owners, state agencies and useful needs of users. in making economic decisions. Financial statements must provide information about an enterprise about:
a) Property;
b) Liabilities;
c) Equity;
d) Revenue, other income, production and business expenses and other expenses;
dd) Profit, loss and distribution of business results;
e) Cash flows.
In addition to this information, the enterprise must also provide other information in the "Notes to the Financial Statements" to further explain the items reflected in the consolidated financial statements and the accounting policies. used to recognize economic transactions, prepare and present the financial statements.
Where to submit financial statements #
According to Article 110, Circular 200/2014 guiding the Enterprise Accounting Regime, specifying where to receive financial statements is as follows:
| Types of businesses | Reporting period | Where to receive reports (where enterprises submit financial statements) | ||||
| Finance agency | Tax authorities | Statistical Office | Enterprise superior | Business registration agency | ||
| State enterprises | Year quarter | x | x | x | x | x |
| Enterprises with foreign investment | Year | x | x | x | x | x |
| Other types of businesses | Year | x | x | x | x | |
- State-owned enterprises located in the provinces and centrally-run cities must prepare and submit financial statements to the Finance Departments of the provinces and centrally-run cities. For state-owned enterprises, the central government must also submit financial statements to the Ministry of Finance (the Department of Corporate Finance).
- For types of State-owned enterprises such as commercial banks, lottery companies, credit institutions, insurance enterprises, securities trading companies, financial statements must be submitted to the Ministry of Finance. Banking and Finance Department or Insurance Supervision Administration).
– Securities trading companies and public companies must submit financial statements to the State Securities Commission and the Stock Exchange.
- Enterprises must submit financial statements to the tax authorities directly managing local taxes. State-owned corporations must also submit financial statements to the Ministry of Finance (General Department of Taxation).
- Enterprises with superior accounting units must submit financial statements to superior accounting units according to regulations of superior accounting units.
- For businesses that are required to be audited by law Financial statements must be audited before submitting financial statements as prescribed. The financial statements of the enterprises that have been audited must attach the audit reports to the financial statements when they are submitted to the State management agencies and superior enterprises.
- The financial institution enterprises with foreign direct investment (FDI) Financial statements must be submitted to the Department of Finance of the provinces and centrally-run cities where the enterprise registers its main business office.
- For State-owned enterprises with 100% of charter capital, in addition to the agencies where the enterprises are required to submit financial statements as prescribed above, the enterprises must also submit financial statements to authorized agencies and organizations. assigning and decentralizing the exercise of rights of owners according to Decree No. 99/2012/ND-CP and amendments, supplements and replacement documents.
- Enterprises (including domestic enterprises and foreign-invested enterprises) having their headquarters located in export processing zones, industrial parks and high-tech zones must also submit annual financial statements to the Management Board. export processing zones, industrial parks and high-tech zones if required.
Deadline for submitting financial statements #
According to Point a, Clause 2, Article 44, Law on Tax Administration No. 38/2019/QH14 promulgated on June 13, 6 stipulates:
"2. The deadline for submitting tax declaration dossiers for taxes with a tax period according to the year is prescribed as follows:
No later than the last day of the 3rd month from the end of the calendar year or fiscal year for the annual tax finalization dossier; no later than the last day of the first month of the calendar year or fiscal year for the annual tax return;”
Accordingly, the deadline for submitting financial statements will be the last day of the third month from the end of the annual accounting period. Enterprises should pay attention to submit financial statements at these places in accordance with current regulations.
Issues related to the place of submission of financial statements were summarized and introduced by EXPERTIS to the enterprise. In addition to the above, if there are other issues that your business has not yet answered, please contact the EXPERTIS Consulting Department for the earliest support.
