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Thursday, June 13, 2024

Gov’t extends tax payment deadlines further

The Saigon Times

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HCMC – The Government, for the fifth time, has decided to extend the payment deadline for enterprises to pay value-added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land rent amounting to over VND112 trillion.

This is part of a decree on the extension of deadlines for tax payments signed by Deputy Prime Minister Le Minh Khai yesterday, aiming to ease difficulties faced by businesses amid a plunge in new orders and shrinking markets.

According to the decree, the deadline for the VAT payable from March to May and in the first quarter should be extended by six months.

The extension period would be five months for businesses expected to pay the VAT in June and the second quarter, along with a delay of four and three months for those with their payment deadline in July and August, respectively.

Meanwhile, the payment of PIT of household businesses and individuals working in priority sectors would be delayed until December 31, 2023, at the latest.

The deadline for payment of CIT in the first and second quarters should be extended by three months.

Individuals, households, and businesses operating in priority sectors are entitled to a six-month deferral of land rent in 2023 from May 31.

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