The Ministry of Finance (MoF) said tax support policies and land-use fee reductions for businesses should be continued throughout 2023 despite shortfalls in state budget collection.
Two decrees on the extension of deadlines for payment of taxes and land rental fees will take effect immediately after the Government’s approval, according to Dang Ngoc Minh, Deputy Director of the Ministry of Finance (MoF)’s General Department of Taxation.
Businesses may have several additional months before they have to pay income tax and land use fees, said a proposal by the Ministry of Finance (MoF) to the Government.
The Government’s policy of giving a five-month postponement of tax and land-use fee payments to support businesses to overcome the difficult time caused by COVID-19 pandemic should be extended to allow more companies to get back on their feet.
Prime Minister Nguyen Xuan Phuc on Wednesday approved a decree about the extension of deadlines for tax and land use fee payments to support businesses amid COVID-19 pandemic.
The HCM City Real Estate Association has urged the Government to enlist the property industry as affected sectors by the COVID-19 outbreak and to be eligible for VAT and land-use fee payment postponement.
The Ministry of Finance has submitted to the Government a five-month extension of value-added tax (VAT), personal income tax and land rent fee payments for those affected by the COVID-19 epidemic.