Proposal to delay tax payment for businesses and business households

The Ministry of Finance has just completed the draft Decree delaying the payment of many important taxes and land rents for businesses, households and individuals.

Because these are urgent solutions that need to be issued immediately to promptly support businesses and those affected in a difficult period, the Ministry of Finance shall submit to the Government for permission the Decree to take effect from the date of signing. .

With value added tax (VAT) of businesses from May 3, 2022 and the first quarter of 2022, the Ministry of Finance proposes an extension of 6 months; taxes of June and the second quarter will be extended for 5 months; July tax renews 4 months and renews 3 months with August VAT.

The total value-added tax in the extension is about 53,300-54,300 billion VND. However, the budget revenue in 2022 will not decrease because businesses still have to pay before December 31 of this year.

For business households and individuals, the Ministry proposes to extend the payment of value-added tax and personal income tax by December 31 of this year at the latest. The extended tax amount is about 15,300 billion VND and the budget revenue is not reduced.

The Ministry of Finance also proposed extending the payment of corporate income tax to facilitate capital support in the current period. Specifically, the draft proposal to extend the temporary tax payment of the first quarter and the second quarter of the corporate income tax period of 2022. The extension period is 3 months. It is estimated that the amount of corporate income tax that is delayed in payment is about 51,000-52,000 billion VND.

The special consumption tax payable in June, July, August and September for domestically manufactured or assembled cars will also be delayed until November 20 this year.

For land rent, water surface rent, the time limit for paying the annual rent is 2 periods (the first period is to pay 50%, no later than May 31; the second period to pay the rest in full, no later than October 31). Accordingly, the Ministry of Finance proposed to extend the payment of land rent and water surface rent for the first period for 6 months, until November 31 of this year. Expected amount of land and water surface rent to be extended is about 3,500-3,700 billion VND.

The tax payment deferral applies to enterprises, households and individuals doing business in many production and business lines such as agriculture, forestry and fishery; food production and processing; weaving; production of costumes; manufacture of leather and related products; wood processing and production of products from wood, bamboo and cork (except for beds, cabinets, tables and chairs); warehouse transportation; accommodation and food services; education and training; health and social assistance activities; real estate business…

Quynh Trang


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