Payment deadlines for VND80.2 trillion in taxes proposed to support enterprises

Friday, 2020-03-27 17:32:53
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NDO – The Ministry of Finance (MoF) has proposed that the payment deadlines for VND80.2 trillion (US$3.4 billion) in taxes be extended to support enterprises, business households and individual business people that are directly affected by the Covid-19 pandemic.

According to the MoF’s draft decree submitted to the Government on March 26, the ministry suggested the payment deadline be extended for over VND61.6 trillion in added value tax for businesses, over VND11.1 trillion in corporate income tax, over VND3 trillion in taxes for individuals and households doing business, and over VND4.5 trillion in land rental tax.

The extension is also expected to be applied to companies, organisations, households and individuals with production and business activities in agriculture, forestry and related services; fishing and aquaculture; food production and processing; textiles; manufacturing of garment, footwear, rubber products, electronic items, computers and optical products; and the manufacture ofautomobiles and other motorised vehicles, except for passenger cars with nine seats and below.

Other proposed beneficiaries include those operating in the spheres of rail, road, waterway and air transport; warehouse and storage; activities supporting transport; accommodation and food services; tourism and support services; education and training; health care and social assistance; artistic composition and entertainment activities; sports; activities of botanical gardens, zoos and nature reserves; activities of amusement parks; and cinema activities.