On May 14, 2024, the Government issued the 1st Draft of the Decree extending the deadline for paying value-added tax, corporate income, personal income tax and land rent in 2024.
Some notable contents of the Draft Decree are as follows:
- For value added tax (except value added tax at import stage)
Extending the tax payment deadline for the arising value-added tax payable for the tax period from May to September 2024 and the tax period of the second quarter of 2024, third quarter of 2024 of businesses and organizations mentioned in Article 3 of the draft Decree.
Monthly and quarterly value-added tax payment deadlines are extended as follows:
- The deadline for paying value added tax for the May 2024 tax period is November 20, 2024.
- The deadline for paying value added tax for the June 2024 tax period is December 20, 2024.
- The deadline for paying value added tax for the July 2024 tax period is December 20, 2024.
- The deadline for paying value added tax for the August 2024 tax period is December 20, 2024.
- The deadline for paying value added tax for the September 2024 tax period is December 20, 2024.
- The deadline for paying value-added tax for the second quarter of 2024 tax period is December 31, 2024.
- The deadline for paying value-added tax for the third quarter of 2024 tax period is December 31, 2024.
- For corporate income tax
Extending the tax payment deadline for temporarily paid corporate income tax amounts of the second quarter of the 2024 corporate income tax period of enterprises and organizations specified in Article 3 of the draft Decree. The extension period is 03 months from the end of the corporate income tax payment deadline according to the provisions of law on tax administration.
- For value added tax, personal income tax of business households and individual businesses
Extending the deadline for paying value-added tax and personal income tax for tax amounts payable arising in 2024 of business households and individual businesses operating in the economic sectors and fields mentioned in Clause 1 , Clause 2 and Clause 3, Article 3 of the draft Decree. Business households and individuals must pay the tax amount extended in this clause no later than December 30, 2024.
- For land rent
Extending the land rent payment deadline for 50% of the arising land rent payable in 2024 by businesses, organizations, households, and individuals subject to the provisions in Article 3 of the draft Decree being approved by the House of Representatives. Countries lease land directly according to Decisions or Contracts of competent state agencies in the form of annual land rental payments. The extension period is 06 months from May 31, 2024.
