Because these are urgent solutions that need to be issued immediately to promptly support businesses and affected subjects during difficult times,Ministry of Financesubmit to the Government for permission for the Decree to take effect from the date of signing.

For value-added tax (VAT) of enterprises from March to May 2022 and the first quarter of 2022, the Ministry of Finance proposed a 6-month extension; tax for June and the second quarter will be extended for 5 months; tax for July will be extended for 4 months and VAT for August will be extended for 3 months.

The total value added tax subject to extension is about 53,300-54,300 billion VND. However, the budget revenue in 2022 will not decrease because businesses still have to pay before December 31 this year.

For business households and individuals, the Ministry proposed to extend the deadline for paying value added tax and personal income tax to December 31 this year. The tax amount to be extended is about more than VND15,300 billion and the budget revenue will not decrease.

The deadline for paying many important taxes and land rents for businesses, households, and individuals will be postponed. Illustration photo: Thu Huyen

The Ministry of Finance also proposedcorporate income tax payment extensionto facilitate capital support in the current period. Specifically, the draft proposes to extend the temporary tax payment of the first and second quarters of the 2022 corporate income tax period. The extension period is 3 months. The estimated amount of corporate income tax that can be delayed is about 51,000 - 52,000 billion VND.

Special consumption tax payable for June, July, August and September on domestically produced or assembled cars will also be postponed to November 20 this year.

For land rent, water surface rent,The deadline for paying annual rent is 2 installments (first installment is 50%, latest by May 31; second installment is to pay the remaining amount, latest by October 31). Accordingly, the Ministry of Finance proposed to extend the payment of land rent and water surface rent for the first installment for 6 months, until November 31 this year. The estimated amount of land and water surface rent to be extended is about 3,500 - 3,700 billion VND.

Jobtax deferralApplicable to businesses, households and individuals doing business in many production and business sectors such as agriculture, forestry and fisheries; food production and processing; textiles; garment production; leather shoe production and related products; wood processing and production of products from wood, bamboo and rattan (except beds, wardrobes, tables and chairs); warehousing and transportation; accommodation and food services; education and training; healthcare and social assistance activities; real estate business activities...