A taxation office in HCM City. — VNS Photo

 

Payment deadlines for value added tax (VAT), corporate income tax, personal income tax, and land rent in 2024 are set to be extended, involving a total tax value of nearly VNĐ84 trillion (US$3.3 billion).

The Ministry of Finance (MoF) has finalised a draft decree on the deadline extension.

It said that the move aims to assist enterprises and people to surmount difficulties and sustain production and business activities while minimising impact on the balance of the state budget at both central and local levels.

The scope of this policy is proposed to be the same as that in a similar decree last year.

The MoF said this year’s state budget revenue will not be affected as taxpayers have to fulfill their obligation by the end of this year. It described the extension as an urgent measure for supporting businesses and people, proposing the Government allow this decree to take effect upon signing.

Last year, the Government issued Decree No 12/2023/NĐ-CP on extending payment deadlines for VAT, corporate income tax, personal income tax, and land rent in 2023. As many as 157,955 taxpayers benefited from this policy with the tax value totalling over VNĐ96.96 trillion, statistics show. — VNS