Declaration of assets, income has become one of the legal obligations is important for businesses, personal property management. This activity not only meet the requirements from regulatory authorities, but also help enterprises control over the property. The process of declaration of assets, income, often complex, so to assist businesses to comply with regulations, this article Accnet will guide declaration of assets, income details, from the concept and legal provisions to the process and the important note.
1. Declaration of assets, income, what is?
Declaration of assets, income process is recorded, reported information about the property income of the business/individual to the governing body in accordance with the law.
The purpose of the declaration:
- Ensure financial transparency, strengthen accountability.
- Help authorities track, control of assets, sources of income of the organizations and individuals.
- Enhance transparency, reduce corruption, concealment of property.
2. Guide and declaration of assets, income details (New 2024)
Step 1: Prepare the documents, records
Before proceeding with the declaration of assets, income, businesses need to fully prepare the records and documents required:
Listed detail the existing property, including:
- Real estate (houses, land).
- Means of transport (car, ship, plane).
- Production assets (machinery and equipment).
Documents related to income:
- Report income from business activity, investment and personal income.
- Employment contract, contract for hire of property, the proof of other income.
Declaration form declaration of assets, income: in the form prescribed in the Decree 130/2020/ND-CP or guidance from the tax authorities.
Step 2: implementation guide declaration of assets
Business/individual needs to perform declaration of assets according to the following contents:
Property information:
- Specifies the type of property (real estate, equipment, vehicles).
- Value of the property at the time of declaration (according to invoice, voucher purchase, sale, market valuation).
- The source property (purchase, gift, inheritance or capital contribution).
Classification of assets:
- The property is individually owned.
- Property of business management, but under the right use of the individual or other unit.
Step 3: guide to declare income
After the tutorial declaration of assets, you continue to declare income, this step is important, demanding the accuracy, completeness:
Classified income:
- Income from business activities (profit after tax).
- Income from investments (dividends, bond interest, interest from securities transactions).
- Income from rental property (real estate and equipment).
Recorded in the account tax-free, taxable:
- The account tax-exempt income: income from gifts, inheritance prescribed.
- Taxable income: specifies the value, the tax rate applied.
Step 4: Submission of declaration of assets, income
After completing the declaration and businesses need to make filing regulations:
Method of payment:
- Pay directly at the agency property management or tax authority.
- Submitted online through the system of electronic declaration.
Archive copies of records declaration: Retain copies of records filed for reference when necessary.
3. Legal provisions relating to declaration of assets, income
3.1. Legal grounds main
The guide declaration of income assets are governed by the legislation following important:
- The law on anti-corruption 2018: clearly Define the object, requires declaration of income assets.
- Decree 130/2020/ND-CP: detailed instructions on the declaration, information management, income property.
- Circular of the Ministry of Finance: Supporting businesses/individuals in the implementation of the declaration the right process.
3.2. Period, frequency, declaration of assets, income
Declaration of assets, income original:
- Are applicable to the individuals and organizations who start the mission property management.
- Duration declare: Within 30 days from when the liability arises.
Guide and declaration of assets recurring income:
- Made annually with respect to the state-owned enterprises, the individuals responsible for the declaration.
- Duration declare: Before 31/12 of each year.
Guide and declaration of income assets when there are changes to the property:
- Apply when the assets/income of individuals and business can change dramatically.
- For example: Buy more real estate, get big profits from investment activities.
3.3. Objects that should guide declaration of assets, income
As a rule, declaration of assets, income, apply with the the main target group:
Business:
- State-owned enterprises or institutions related to the management of public property.
- The private enterprise when performing activities related to public property or receive funding from the state budget.
Personal:
- The head of business, member of senior management.
- Individual has a legal responsibility in the asset management business public property.
Other organization: The organization, the business unit whose property is to be formed from the state capital, capital contributions from many different sources.
4. Important note when applying guide declaration of assets, income
4.1. Identify the right assets and income should declare
Businesses need to check carefully to avoid declare excess or deficiency:
- Just declare the property, income, belong to the scope of the request.
- Ensure property values, income is recorded in the correct fact.
4.2. Check the accuracy and validity of the profile
- Ensure that the information in the profile is guided declaration of assets, income joints with the financial realities of the business.
- Use the proper legal documentation to prove the origin of assets and income.
4.3. To comply with the requirements of the deadline for the declaration
- Ensure filing declaration due time to avoid administrative penalties.
- Plan filing periodically to meet the requirements of regulatory authorities.
4.4. Handle the case of violations/errors
If errors are detected after declaration of assets, income, businesses need to:
- Filing a supplement to modify the information.
- Explanation timely with regulatory authorities if required check.
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Key benefits of the software:
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Guide and declaration of assets, income is not just a legal obligation but also as step strategy to help businesses ensure financial transparency, strengthen accountability. The application of technology solutions such as software asset management is the key to process optimization declaration, reduce errors, enhance operational efficiency. With the advanced tools such as LV DX Asset, the declaration of income assets now become simple, accurate, saving more than ever.
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