HCMC – The Government has extended the deadlines for tax and land rent payments for this year, marking the sixth time this relief measure has been implemented.
Under Decree No. 64/2024/ND-CP, extensions are granted for value-added tax (VAT), corporate income tax (CIT), personal income tax, and land rent. This move aims to alleviate the financial burden on businesses and individuals amid current economic difficulties.
For VAT, businesses and organizations that declare VAT monthly will enjoy an extension for VAT payment from May to September 2024. Those declaring VAT quarterly will see an extension in the second and third quarters of 2024.
VAT payments for May, June, and the second quarter of 2024 will be extended by five months. VAT payments for July will be extended by four months, August by three months, and September and the third quarter by two months.
The decree also extends deadlines for provisional CIT payments for the second quarter of the 2024 tax year. The extension period is three months from the original due date. This applies to both businesses and their subsidiaries that file separate CIT returns.
For household and individual businesses, the deadline for paying VAT and personal income tax is extended to December 30, 2024.
The decree also provides a two-month extension for 50% of the annual land rental payments due in 2024. This applies to businesses, organizations, households, and individuals. The extension period begins on October 31, 2024.
The decree is effective from June 17, 2024, to December 31, 2024. After this period, tax and land rent payments will revert to existing regulations.
