What is the application form for value-added tax deferral in Vietnam?

Are wood product manufacturing enterprises in storm-affected areas eligible for a deferral of VAT in Vietnam?

Based on Point a, Clause 1, Article 3 of Decree 64/2024/ND-CP regarding the subjects eligible for extension as follows:

Subjects eligible for extension

1. Enterprises, organizations, households, business households, individuals engaged in production activities in the following economic sectors:

a) Agriculture, forestry, and fisheries;

b) Production, food processing; textiles; garment production; leather production and related products; wood processing and wood product manufacturing*, bamboo, reed (excluding beds, wardrobes, tables, chairs); production of products from straw, and woven materials; production of paper and paper products; production of rubber and plastic products; production of other non-metallic mineral products; metal production; mechanical processing; metal treating and coating; production of electronic products, computers, and optical products; production of automobiles and other motor vehicles; production of beds, wardrobes, tables, chairs;*

c) Construction;

d) Publishing activities; film industry; production of television programs, sound recording, and music publishing;

dd) Crude oil and natural gas extraction (no extension for corporate income tax from crude oil, condensate, natural gas collected under agreements or contracts);

e) Beverage production; printing, copying of all types of records; production of coke, refined petroleum products; production of chemicals and chemical products; production of fabricated metal products (except machinery and equipment); production of motorcycles and motorbikes; repair, maintenance, and installation of machinery and equipment;

g) Wastewater drainage and treatment.

...

Thus, wood product manufacturing enterprises in areas affected by storms are among the subjects eligible for a deferral of VAT payment.

What is the application form for value-added tax deferral in Vietnam? (Image from Internet)

Which form do wood product manufacturing enterprises in storm-affected areas use to request a deferral of VAT payment?

According to the Appendix issued with Decree 64/2024/ND-CP, wood product manufacturing enterprises in storm-affected areas use the following application form to request a deferral of VAT payment:

Download the latest value-added tax extension request form for 2024.

What are the regulations on the deferral period for monthly, quarterly value-added tax payment?

According to Article 4 of Decree 64/2024/ND-CP governing the extension of the deadline for tax and land rent payment as follows:

- For value-added tax (excluding import value-added tax)

+ Extension of tax payment deadline for the value-added tax payable (including the tax amounts allocated to other provincial-level localities where the taxpayer's main office is located, tax payments made each time they arise) for the tax periods from May to September 2024 (for those declaring value-added tax monthly) and the tax periods of the second and third quarters of 2024 (for those declaring value-added tax quarterly) of enterprises, organizations stated in Article 3 of Decree 64/2024/ND-CP.

The deferral period is 5 months for the value-added tax amounts for May 2024, June 2024, and the second quarter of 2024, 4 months for the tax amounts for July 2024, 3 months for the tax amounts for August 2024, 2 months for the tax amounts for September 2024 and the third quarter of 2024.

The deferral period mentioned herein is calculated from the day following the deadline for value-added tax payment as prescribed by law on tax administration.

Eligible enterprises, organizations are required to file the monthly or quarterly value-added tax declarations according to existing laws, but are not required to pay the tax amounts declared in the filed declarations.

The extended deadlines for value-added tax payment for the monthly and quarterly tax periods are as follows:

The deadline for value-added tax payment of the May 2024 tax period is November 20, 2024.

The deadline for value-added tax payment of the June 2024 tax period is December 20, 2024.

The deadline for value-added tax payment of the July 2024 tax period is December 20, 2024.

The deadline for value-added tax payment of the August 2024 tax period is December 20, 2024.

The deadline for value-added tax payment of the September 2024 tax period is December 20, 2024.

The deadline for value-added tax payment for the second quarter of 2024 tax period is December 31, 2024.

The deadline for value-added tax payment for the third quarter of 2024 tax period is December 31, 2024.

+ In cases where enterprises, organizations mentioned in Article 3 Decree 64/2024/ND-CP have branches, affiliated units that file separate value-added tax declarations with the directly managing tax authorities of the branches, affiliated units, these branches or units are also eligible for the tax payment extension.

In cases where the branches, affiliated units of the enterprises, organizations mentioned in Clauses 1, 2, and 3, Article 3 Decree 64/2024/ND-CP do not engage in production or business activities in eligible economic sectors, fields, these branches, units are not subject to the tax payment extension.

Moreover, regarding the extension procedure, it will follow Article 5 Decree 64/2024/ND-CP where aquaculture farming households affected by Storm Yagi extend their value-added tax payment according to the following procedure:

- Taxpayers who directly declare and pay taxes with the tax authorities and are eligible for an extension shall submit a Request for Tax Payment and Land Rent Extension (hereinafter referred to as the Extension Request) for the first time or as a replacement when errors are detected (electronically; Sent directly by paper to the tax authority or through postal services) according to the Form in the Appendix issued with this Decree to the directly managing tax authorities once for the entire tax, land rent amounts arising in the tax periods eligible for the extension along with the time of filing tax declarations monthly (or quarterly) in accordance with the law on tax administration.

In cases where the Extension Request is not submitted with the tax declaration filing time for the month (or quarterly), the latest submission deadline is September 30, 2024. Tax authorities still shall extend the tax, land rent payment for the eligible periods before the extension Request filing date.

In cases where a taxpayer has amounts eligible for extension under multiple tax authorities' management areas, the tax authority directly managing the taxpayer is responsible for transmitting the information to the relevant tax authorities.

- Taxpayers are responsible for determining and taking responsibility for proposing an extension that ensures they belong to the eligible subjects for the extension according to this Decree.

If taxpayers submit the Extension Request to tax authorities after September 30, 2024, they will not be extended the payment for taxes or land rent according to this Decree.

In cases where taxpayers supplement tax declaration dossiers of the tax period eligible for extension leading to an increase in the payable amount and send it to tax authorities before the expiry of the extended tax payment deadline, the tax amount eligible for extension includes the additional payable amount due to the supplementary declaration.

If taxpayers supplement tax declaration dossiers of the eligible tax period after the expiry of the extended payment deadline, the additional payable amount due to supplementation will not qualify for an extension.