Finance Ministry suggests further extending tax payment deadline
The Ministry of Finance has submitted a proposal to the Government seeking approval to create a decree expanding the timeframe for tax and land lease payments.
Hanoi (VNA) - The Ministry of Finance has submitted aproposal to the Government seeking approval to create a decree expanding thetimeframe for tax and land lease payments.
The move is expected to ease difficulties faced by enterprises amid the COVID-19pandemic, especially those in tourism and transportation.
Under the proposal, payments of value added tax are to be extended byfive months, during which revenue to the State budget will fall by nearly 68.8trillion VND (2.99 billion USD).
Regarding corporate income tax, around 40.5 trillion VND in paymentsduring the first and second quarters will be delayed by three months.
Meanwhile, the payment of some 1.3 trillion VND in value added tax and personalincome tax from business households and individuals will also enjoy a delay.
The ministry suggested extending the deadline for land lease payments inthe first installment, valued at about 4.4 trillion VND.
The total value of delayed taxes and land lease will amount to 115trillion VND.
Tax agencies allowed delays in tax and land lease payments worth some 87.3trillion VND last year, for 184,900 taxpayers./.
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Illustrative image (Photo: VNA) 
