How many months is the deadline for submission of value-added tax for the third quarter of 2024 extended in Vietnam?

How many months is the deadline for submission of value-added tax for the third quarter of 2024 extended in Vietnam?

According to Article 4 of Decree 64/2024/ND-CP on the extension of the tax payment deadline and land rent, the regulations are as follows:

- For value-added tax (excluding value-added tax on imports)

+ Extension of the tax payment deadline for the value-added tax payable (including tax amounts allocated to different provincial levels other than the taxpayer's principal office, the tax amount paid on each occurrence) for the tax period from May to September 2024 (for taxpayers declaring value-added tax monthly) and for the tax period of the second quarter of 2024, the third quarter of 2024 (for taxpayers declaring value-added tax quarterly) of businesses and organizations mentioned in Article 3 of Decree 64/2024/ND-CP.

The extension period is 05 months for the value-added tax of May 2024, June 2024, and the second quarter of 2024; the extension period is 04 months for the value-added tax of July 2024; the extension period is 03 months for the value-added tax of August 2024; the extension period is 02 months for the value-added tax of September 2024 and the third quarter of 2024.

The extension period mentioned herein is calculated from the date of the tax payment deadline according to the tax administration law.

Businesses and organizations eligible for the extension must declare, file the monthly, quarterly value-added tax declarations as stipulated by current law but are not required to pay the value-added tax arising on the declared value-added tax return.

Thus, according to the regulations, the value-added tax for the third quarter of 2024 is extended by 02 months.

What is the latest extension deadline for submission of value-added tax for the third quarter of 2024 in Vietnam?

A quarter is a time concept used to divide time within a year. One year includes 4 quarters, divided as follows:

- The first quarter begins from January until the end of March.

- The second quarter begins from April until the end of June.

- The third quarter begins from July until the end of September.

- The fourth quarter begins from October until the end of December.

The third quarter includes three months, from July to the end of September.

Additionally, according to Article 4 of Decree 64/2024/ND-CP, the tax payment deadline for value-added tax of the extended month, quarter is as follows:

The deadline for value-added tax payment of the tax period for May 2024 is no later than November 20, 2024.

The deadline for value-added tax payment of the tax period for June 2024 is no later than December 20, 2024.

The deadline for value-added tax payment of the tax period for July 2024 is no later than December 20, 2024.

The deadline for value-added tax payment of the tax period for August 2024 is no later than December 20, 2024.

The deadline for value-added tax payment of the tax period for September 2024 is no later than December 20, 2024.

The deadline for value-added tax payment of the tax period for the second quarter of 2024 is no later than December 31, 2024.

The deadline for value-added tax payment of the tax period for the third quarter of 2024 is no later than December 31, 2024.

+ In cases where businesses and organizations specified in Article 3 of Decree 64/2024/ND-CP have branches or dependent entities that file value-added tax separately with the tax authority directly managing the branch or dependent entity, these branches or dependent entities are also eligible for the extension of value-added tax payment.

In cases where the branch or dependent entity of the businesses or organizations mentioned in clauses 1, 2, and 3 of Article 3 of Decree 64/2024/ND-CP do not engage in production and business activities in the economic sectors or fields eligible for the extension, such branches or dependent entities shall not be eligible for the extension of value-added tax payment.

Thus, according to the above regulations, the value-added tax for the third quarter of 2024 (end of September) is extended until December 31, 2024.

What is the procedure to extend the deadline for payment of value-added tax for 2024 in Vietnam?

Additionally, the procedure to extend the tax will comply with Article 5 of Decree 64/2024/ND-CP, affecting households in aquaculture affected by Yagi, extending the value-added tax payment according to the following procedures:

- Taxpayers who declare and pay taxes directly to the tax authorities eligible for the extension must submit the first or replacement application for the extension of tax payment and land rent (hereinafter referred to as the Extension Request) when errors are detected (via electronic means; directly at the tax authority or by postal service) following the form in the Appendix issued with this Decree to the directly managing tax authority once for all tax amounts and land rent eligible for the extension during the tax period along with the time of filing the monthly (or quarterly) tax return as per the tax administration law.

In case the Extension Request is not submitted along with the time of filing the monthly (or quarterly) tax return, the submission deadline is no later than September 30, 2024. The tax authority shall still process the extension of tax and land rent payment for the periods eligible for the extension before the submission of the Extension Request.

In cases where the taxpayer has extended amounts managed by different tax authorities, the tax authority directly managing the taxpayer shall be responsible for transmitting the information and sending the Extension Request to the relevant tax authorities.

- Taxpayers must self-determine and be responsible for the extension request to ensure it is eligible for the extension as per this Decree.

If the taxpayer submits the Extension Request to the tax authority after September 30, 2024, the taxpayer will not be granted the extension for tax payment and land rent as stipulated in this Decree.

In cases where the taxpayer amends the tax return for the extended tax period resulting in an increased payable amount and submits it to the tax authority before the deadline of the extended tax payment, the extended tax amount includes the additional payable amount due to the amendment.

If the taxpayer amends the tax return for the extended tax period after the extended tax payment deadline, the additional payable amount due to the amendment shall not be extended.