Continue to extend tax and land rent payment deadline in 2021

Mr. Minh April 20, 2021 10:11

For the third time, the Government has decided to extend the deadline for tax and land rent payments for businesses and organizations facing difficulties due to the epidemic.

The Decree on continuing to extend the deadline for tax and land use fee payment in 2021 has just been signed and issued by Prime Minister Pham Minh Chinh.

Accordingly, enterprises and organizations declarevalue added taxMonthly tax declaration will be extended for 5 months for the tax arising in the tax period of March-August 2021. If the enterprise declares this tax quarterly, it will be extended for the tax arising in the first and second quarters.

In case a business incurs value added tax in July, it will be extended by 4 months; in case the tax is incurred in August, it will be extended by 3 more months.

According to the previous estimate of the Ministry of Finance, the budget will reduce revenue by about 68,800 billion VND in the months of this tax extension, but it will not affect the budget balance.

Corporate income taxThe deadline for provisional tax payment for the first and second quarters of the 2021 corporate income tax period will be extended by 3 months. The extended tax amount is about 40,500 billion VND.

In addition, business households and individuals in the fields of agriculture, aquaculture, textiles, supporting industries, construction, transportation, warehousing services, tourism, etc. will also have their VAT and corporate income tax payment deadline extended to December 31, 2021. About VND 1,300 billion is the tax amount these subjects will be extended.

Withland rent,Enterprises, business households, and individuals in priority sectors will have their land rent payments extended for the first period of 2021. The extension period is 6 months, starting from May 31, 2021. The amount of land rent extended is about VND 4,400 billion.

This is the third time the Government has introduced a policy to extend and postpone tax payment (value added tax, corporate income tax, land rent...) for businesses, business households and individuals in priority sectors affected by Covid-19.

The total amount of tax deferrals expected this time is nearly 115,000 billion VND. The budget revenue in 2021 will not decrease because this policy only extends the tax payment deadline. Taxpayers will still fulfill their obligations by the end of 2021.

    According to vnexpress.net
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