Over VND26 trillion in tax payment extensions to support enterprises

Over VND26 trillion worth of tax and land lease fee payments have been extended or delayed to support enterprises, organisations, household businesses and individuals affected by the COVID-19 pandemic during one month since the implementation of the Government Decree No. 52/2021/N?-CP.

Support on tax policy is still the most important proposal that enterprises wish to receive from the Government. (Illustrative image/CONG THANH)
Support on tax policy is still the most important proposal that enterprises wish to receive from the Government. (Illustrative image/CONG THANH)

In addition, the Ministry of Finance has proposed the extension of the reduction of 29 types of fees and charges until the end of this year instead of June 30.

As a result, the payment of over VND100 trillion in taxes and fees will be extended until the end of this year to support enterprises amid difficulties caused by the pandemic.

These are the efforts of the Ministry of Finance to share difficulties with the business community amid limited room of the fiscal policy in support of enterprises in 2021.

The fourth outbreak of the COVID-19 pandemic has directly affected manufacturing facilities at industrial parks, the main driving for economic growth, making economic recovery more difficult.

Standard Chartered has updated its growth forecast for the Vietnamese economy in 2021, lowering this year’s growth rate from 7.8% to 6.7% , although it still recognised Vietnam as being one of the best performers in the world during the pandemic.

The support policy for enterprises should not stop at extension or postponement of tax payments, but it is necessary to calculate tax reduction or exemption of corporate income tax until 2022 or beyond.

According to a recent survey by the Vietnam Chamber of Commerce and Industry (VCCI), support on tax policy is still the most important proposal that enterprises wish to receive from the Government.