Payment deadline extension proposed for over 3 billion USD in taxes

Update: 17:26 | 27/03/2020
The Ministry of Finance (MoF) has proposed the payment deadlines for 80.2 trillion VND (3.4 billion USD) in taxes be extended to support enterprises, business households and individuals doing business that are directly affected by the COVID-19 pandemic.
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In the MoF’s draft decree submitted to the Government on March 26, this ministry suggested the payment deadline extension for over 61.6 trillion VND in added value tax for businesses, over 11.1 trillion VND in corporate income tax, over 3 trillion VND in taxes for individuals and households doing business, and over 4.5 trillion VND in land rental tax.

payment deadline extension proposed for over 3 billion usd in taxes
A garment factory in Pho Noi A Industrial Park, Hung Yen province. (Photo: baodautu.vn)

It proposed the extension be applied to companies, organisations, households and individuals with production and business activities in agriculture, forestry and related services; fishing and aquaculture; food production and processing; textiles; manufacturing of garment, footwear, rubber products, electronic items, computers and optical products; and the making of automobiles and other motorized vehicles, except for passenger cars with nine seats and below.

Other proposed beneficiaries include those operating in the spheres of rail, road, waterway and air transport; warehouse and storing; activities supporting transport; accommodation and food services; tourism and support services; education and training; health care and social assistance; artistic composition and entertainment activities; sports; activities of botanical gardens, zoos and nature reserves; activities of amusement parks; and cinema activities.

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(Source: VNA)