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Official Gazette

Sunday, June 26, 2022

Gov. expected to extend tax and rental payment time limits

Updated: 15:58’ - 23/05/2022
This year, the State would continue extending the time limits for payment of value-added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land and water surface rentals, in order to help businesses and people to overcome difficulties caused by the impacts of the COVID-19 pandemic.

Such is provided in a draft decree prepared by the Ministry of Finance (MOF). Accordingly, subjects entitled to extension of tax and rental payment time limits include enterprises, organizations, business households and individuals operating in the sectors specified in Article 2 of Decree 52 of 2021.

As for VAT, the MOF proposes a 6-month extension for VAT amounts arising in March through May and first quarter of 2022; a 5-month extension for VAT amounts of June and the second quarter of 2022; a 4-month extension for VAT amounts of July 2022; and a 3-month extension for the VAT amounts of August 2022. The extension would be counted from the deadline for VAT payment prescribed by the law on tax administration.

Regarding CIT, the draft suggests extending the time limits for payment of the temporarily paid CIT amounts in the first and second quarters of 2022 for three months from the CIT payment deadline.

Meanwhile, taxpayers being business households and individuals would be permitted to delay payment of the VAT and PIT amounts of this year by December 31.

With regard to land and water surface rentals, as proposed by the MOF, lessees would enjoy extension of the time limit for payment of half of their rentals for six months. Instead of paying half of their rentals by May 31 and the remainder by November 30, once the draft is approved, they may pay the whole rentals in a lump-sum by no later than November 30.- (VLLF) 
 
 

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