The Ministry of Finance proposed an extension of six months for the VAT amount from January to May 2023 and the first quarter of 2023, the extension period is five months for the VAT amount of June 2023 and the second quarter- 2023.
The Ministry of Finance is collecting comments on the draft Decree extending the deadline for payment of value added tax (VAT), corporate income tax (CIT), personal income tax and land rent in 2023.
According to the draft decree, with value added tax (except VAT at the import stage), the Ministry of Finance proposes to extend the tax payment deadline for the amount of VAT incurred to be paid (including the tax allocated to other provincial-level localities where the taxpayer is headquartered, the tax amount payable each time) of the tax period from January to June 2023 (for the case of monthly VAT declaration) and the tax period from January to June, 2023. tax calculation for the first quarter and second quarter of 2023 (for the case of quarterly VAT declaration) of enterprises and organizations subject to the extension.
The extension period is six months for the VAT amount from January to May 2023 and the first quarter of 2023, the extension period is five months for the VAT amount of June 2023 and the second quarter of 2023. The extension period at this point is counted from the end of the time limit for payment of value added tax in accordance with the Law on tax administration.
For CIT, extending the tax payment deadline for temporarily paid CIT amounts of the first quarter and second quarter of the 2023 corporate income tax period of enterprises and organizations subject to the extension. The extension period is three months from the end of the CIT payment deadline in accordance with the Law on Tax Administration.
For VAT and personal income tax of business households and individuals, extension of time limit for payment of VAT and personal income tax for payable tax amounts arising in 2023 of business households and individuals operating in economic sectors and fields subject to extension. Business households and individuals shall pay the extended tax amount in this Clause by December 30, 2023.
Also in the draft, the Ministry of Finance proposes to extend the time limit for paying land rent for 50% of the arising land rent payable in 2023 of enterprises, organizations, households, and individual business households belonging to The subject of the extension is being directly leased land by the State under a decision or contract of a competent state agency in the form of annual land rental payment. The extension period is six months from May 31, 2023 to November 30, 2023.
