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Saturday, February 4, 2023

Deferred tax payments put at VND106 trillion in Jan-Nov

By N. Tan

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HCMC – The tax offices have deferred tax payments of VND105.9 trillion between January and November this year, representing 78.4% of the plan set in the tax deferral policy at VND135 trillion, according to the Ministry of Finance.

The deferral of value added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land fee payment totaled VND96.3 trillion, while the deferred amount of excise tax for domestically manufactured and assembled cars was estimated at VND9.6 trillion.

Tax exemptions and reductions under the Social and Economic Recovery and Development Program in the first 11 months of the year were estimated at VND47.8 trillion, making up 74.7% of the plan.

The reduction of the VAT from 10% to 8% amounted to VND36.7 trillion. Meanwhile, a 50% registration fee reduction for cars, trailers, or semi-trailers towed by cars and vehicles similar to domestically produced and assembled cars was VND6.6 trillion.

At the same time, the environmental tax on jet fuel was subject to a 50% reduction, at VND1,9 trillion.

Besides, the Government planned to reduce land and water surface use fees for those affected by the Covid-19 pandemic, estimated at VND3.5 trillion.

In addition to the above programs, the Government reported to the National Assembly’s Standing Committee issuing resolutions on reducing environmental tax for gasoline, oil and lubricants, estimated at VND32 trillion, to curb inflation and ease the hardships of the residents during the past time. As a result, a reduction of VND26.3 trillion has been made till now under the policy.

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