What is the deadline for extension of value-added tax in Vietnam for the tax period of August 2024?

What is the deadline for extension of value-added tax in Vietnam for the tax period of August 2024?

According to Article 4 of Decree 64/2024/ND-CP, which stipulates the extension for submitting value-added tax (VAT) as follows:

Extension of tax payment deadlines and land rent

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

a) An extension of the tax payment deadline applies to the amount of value-added tax payable (including the tax amount allocated to provincial-level localities other than where the taxpayer's head office is located and the tax amount paid on an occurrence basis) for the tax periods from May to September 2024 (for monthly value-added tax declarations) and the second quarter of 2024, third quarter of 2024 (for quarterly value-added tax declarations) of enterprises and organizations mentioned in Article 3 of this Decree. The extension is 05 months for the value-added tax of May 2024, June 2024, and the second quarter of 2024; 04 months for the value-added tax of July 2024; 03 months for the value-added tax of August 2024; and 02 months for the value-added tax of September 2024 and the third quarter of 2024. The extension period mentioned in this point is counted from the end of the statutory deadline for value-added tax payment according to tax management law.

Enterprises and organizations eligible for the extension must declare and submit monthly and quarterly value-added tax returns according to the current laws, but are not required to pay the amount of value-added tax declared on the value-added tax returns. The extended value-added tax payment deadlines for months and quarters are as follows:

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

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For value-added tax (excluding value-added tax on imports), the deadline for the value-added tax for the tax period of August 2024 is extended to no later than December 20, 2024.

What is the deadline for extension of value-added tax in Vietnam for the tax period of August 2024? (Image from the Internet)

Which industries are eligible for an extension of the value-added tax payment deadline in Vietnam for the tax period of August 2024?

According to Article 3 of Decree 64/2024/ND-CP, enterprises operating in the following industries are eligible for an extension of the value-added tax payment deadline for the tax period of August 2024:

(1) Agriculture, forestry, and fisheries;

(2) Manufacturing, processing food; textile; apparel production; leather production and related products; wood processing and product manufacturing from wood, bamboo, rattan (excluding beds, cabinets, tables, chairs); manufacturing products from straw, thatch and plaiting materials; paper and paper product manufacturing; rubber and plastic product manufacturing; non-metal mineral product manufacturing; metal production; mechanical processing; metal treatment and coating; electronic product, computer and optical product manufacturing; car production and other motor vehicles; manufacturing beds, cabinets, tables, and chairs;

(3) Construction;

(4) Publishing activities; cinematographic activities, television program production, audio recording and music publication;

(5) Crude oil and natural gas extraction (excluding corporate income tax on crude oil, condensate, and natural gas dividends paid under agreements and contracts);

(6) Beverage production; printing and reproduction of recorded media of all kinds; production of coke and refined petroleum products; chemical and chemical product production; manufacturing products from pre-formed metals (excluding machinery and equipment); motorcycle and vehicle production; repair, maintenance and installation of machinery and equipment;

(7) Water drainage and wastewater treatment.

When is the deadline for submitting value-added tax returns in Vietnam for the tax period of August 2024?

According to Article 8 of Decree 126/2020/ND-CP, concerning types of taxes declared monthly, quarterly, annually, on an occurrence basis, and final tax settlements:

Types of taxes declared monthly, quarterly, annually, on an occurrence basis, and final tax settlements

1. Types of taxes and other budget revenues managed by tax authorities declared on a monthly basis include:

a) Value-added tax and personal income tax. In cases where the taxpayer meets the criteria stipulated in Article 9 of this Decree, they may choose to declare taxes quarterly.

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According to Article 44 of the Tax Administration Law 2019, the deadline for submitting tax returns is stipulated as follows:

Deadline for submitting tax returns

1. The deadline for submitting tax returns for monthly or quarterly declared taxes is stipulated as follows:

a) No later than the 20th of the following month for monthly declared taxes;

b) No later than the last day of the first month of the quarter following the quarter in which the tax obligations arise for quarterly declared taxes.

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Therefore, the deadline for submitting value-added tax returns for the tax period of August 2024 is September 20, 2024.