The Ministry of Finance (MoF) has finalised a draft decree on the deadline extension. It said that the move aims to assist enterprises and people to surmount difficulties and sustain production and business activities while minimising impact on the balance of the state budget at both central and local levels.
The scope of this policy is proposed to be the same as that in a similar decree last year.
The MoF estimated that the VAT to be paid by enterprises benefiting from the extension will be about 52.4 trillion VND, and the corporate income tax 27.6 trillion VND.
Meanwhile, the policy will cover about 440 billion VND in the VAT and personal income tax to be paid by households and individuals doing businesses, and land rent subject to the extended deadlines is valued at about 3.2 trillion VND.
The MoF said this year’s state budget revenue will not be affected as taxpayers have to fulfill their obligation by the end of this year. It described the extension as an urgent measure for supporting businesses and people, proposing the Government allow this decree to take effect upon signing.
Last year, the Government issued Decree No. 12/2023/ND-CP on extending payment deadlines for VAT, corporate income tax, personal income tax, and land rent in 2023. As many as 157,955 taxpayers benefited from this policy with the tax value totalling over 96.96 trillion VND, statistics show./. VNA