In order to help businesses survive financial problems and boost their production and business operations, the Prime Minister issued on October 11 Decision No. 54/2011/QD-TTg, on extending 2011 corporate income tax payment deadlines for labor-intensive enterprises operating in some sectors.
Accordingly, eligible for extended corporate income tax payment deadlines are enterprises employing a large number of laborers and cooperatives which have incomes from the manufacture or processing of agricultural-forest-fishery products, textile and garment, leather and footwear, electronic components, or from construction and installation of socio-economic infrastructure works.
The Decision also specifies that labor-intensive enterprises are those employing more than 300 regular workers in 2011, excluding laborers with contracts of a term of three months or less. For enterprises organized after the parent company-subsidiary company model, the number of employees of the parent company does not include employees of the subsidiary company.
Activities of manufacture or processing of agricultural-forest-fishery products, textile and garment, leather and footwear and electronic components are specified in the
Socio-economic infrastructure works include water or power plants, power transmission and distribution works, water supply and drainage systems, roads, railways, airports, seaports, river ports, stations, car terminals, schools, hospitals, cultural and sport facilities, wastewater and solid waste treatment works, information and communication works, irrigations works for agriculture, forestry and fisheries.
Corporate income tax amounts eligible for payment deadline extension are payable tax amounts temporarily calculated every quarter but exclude tax amounts on incomes from activities other than above-said activities.-