The Government promulgates Decree 52/2021 / ND-CP on extension of time limit for payment of value added tax, corporate income tax, personal income tax and land rental in 2021. The Decree is approved by the Prime Minister. Pham Minh Chinh signed and issued.
The Decree applies to enterprises, organizations, business households and individuals engaged in production in the economic sectors including agriculture, forestry and fisheries; Build; publishing movies, music; extraction of crude oil and natural gas; production of beverages; motorbike and motorbike manufacture; drainage and wastewater treatment …
Enterprises, organizations, business households and individuals doing business in services such as warehouses; stay and eat; education and training; medical and social assistance activities; real estate business; Labor and employment … are also extended tax deadline this year.
In addition, the Decree also applies to small and micro enterprises, credit institutions, foreign bank branches to implement solutions to support customers who are businesses, organizations and individuals affected. by translation of COVID-19 in accordance with regulations of the State Bank.
Accordingly, enterprises and organizations that declare value added tax on a monthly basis will be extended for 5 months of the arising tax amount of the tax period of March-August 2021. If the business declares this tax quarterly, it will be extended with the arising tax amount in the first and second quarters.
If the enterprise incurs VAT in July, it will be extended for 4 months; tax incurred in August, is extended for another 3 months.
According to previous estimates of the Ministry of Finance, the budget will reduce revenue by about VND 68,800 billion in the months of this tax extension, but will not affect the budget balance.
Corporate income tax will be extended for 3 months with the deadline for provisional tax payment in the first and second quarter of the corporate income tax period in 2021. The extended tax amount is about 40,500 billion VND.
Business households, individuals in the fields of agriculture, fisheries, textiles, supporting industries, construction, transportation, warehousing, tourism … will be allowed to extend the time limit for value added tax payment. , corporate income tax to 31/12/2021. About 1,300 billion VND is the tax amount for these subjects is extended.
With land rentals, businesses, business households and individuals in the priority fields will be extended the payable land rental amount for the first period of 2021. The extension period is 6 months from May 31, 2021. . The amount of land rent to be extended is about 4,400 billion VND.
The total amount to be postponed and deferred this time is nearly 115,000 billion VND. The budget revenue in 2021 will not decrease because this policy is only extending tax payment time. Taxpayers will still fulfill their obligations by the end of 2021.
Previously, on April 8, 2020, the Government issued Decree No. 41/2020 / ND-CP stipulating the extension of tax payment time limit and land rental for an additional 5 months. As of September 5, 2020, the Government continues to issue Decree No. 109/2020 / ND-CP on extending special consumption tax for domestically manufactured and assembled cars.