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| Carrying out tax-related procedures at the Hanoi Tax Department__Photo: VNA |
Deadlines for payment of value added tax (VAT), corporate income tax, personal income tax, and land rental in 2024 are scheduled to be extended, according to the latest draft decree designed by the Ministry of Finance (MOF).
As per the draft, subjects entitled to extension of time limits for tax and land rental payment would be the same as those specified in Decree 12 issued on April 14 last year.
The MOF estimates that the total amount of tax and land rental to be extended would be nearly VND 84 trillion (USD 3.3 billion).
In which, the VAT imposed on enterprises would occupy approximately VND 52.4 trillion meanwhile the corporate income tax would be around VND 27.6 trillion. Besides, the deadline extension would also cover about VND 440 billion of VAT and personal income tax levied on business households and individuals, and about VND 3.2 trillion of land rental.
However, the state budget revenue of 2024 would not be affected because taxpayers have to fulfill their obligation by the end of this year.
Such proposal aims to support enterprises and individuals in overcoming difficulties and sustaining their production and business activities while minimizing the impact on the state budget at both the central and local levels, according to the MOF.- (VLLF)
