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Thursday, July 25, 2024

Over VND100,000 billion in taxes proposed for extension

By T.Dao

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HCMC – The Ministry of Finance is seeking feedback on a draft Government decree on the rescheduling of payments of value added tax (VAT), corporate income tax (CIT) and land rent amounting to over VND100,000 billion.

The draft decree, which was prepared by the ministry, proposes granting a six-month payment delay of VAT incurred from January to May, 2023 and the first quarter of 2023, and a five-month payment delay of VAT incurred in June 2023 and the second quarter of 2023.

The total amount of VAT from January to June and the 1st and 2nd quarter of this year is estimated at VND64,000 billion to VND65,000 billion.

A three-month delay is proposed for CIT incurred during the first and second quarters of 2023 with an estimated total amount of VND42,800 billion to VND43,600 billion.

The rescheduling begins from the deadline of the payment of VAT and CIT prescribed by the regulations.

For the deferral of VAT and personal income tax of business households and individuals in 2023, individuals and organizations are required to make payments before the expiration date of December 30, 2023.

The ministry is considering a six-month deferral from May 31 to November 30, 2023 for halve of land rent incurred in 2023. The total rent of land and water surface to be delayed is estimated at VND3,500 billion.

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