What is the deadline for submission of VAT returns in Vietnam for November 2024 and December 2024?

What is the deadline for submission of VAT returns in Vietnam for November 2024 and December 2024?

According to Clause 1, Article 4 of Decree 64/2024/ND-CP specifies as follows:

Extension of tax and land rent payment deadlines

1. For value-added tax (excluding VAT at the import stage)

a) Extension of tax payment deadlines for VAT payable (including tax allocated to other provincial localities where the taxpayer has its headquarters, tax payable per occurrence) for the tax period from May to September 2024 (for monthly VAT declaration cases) and the tax period of Q2 2024, Q3 2024 (for quarterly VAT declaration cases) for enterprises and organizations specified in Article 3 of this Decree. The extension period is 05 months for VAT of May 2024, June 2024, and Q2 2024, 04 months for VAT of July 2024, 03 months for VAT of August 2024, 02 months for VAT of September 2024 and Q3 2024. The extension period as stated here is calculated from the deadline for VAT payment according to tax management laws.

enterprises and organizations eligible for the extension must declare and submit VAT returns monthly and quarterly as per current legal provisions but are not required to pay the VAT due declared in the VAT return. The extended deadline for VAT payment is as follows:

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

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

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

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

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

The VAT payment deadline for the tax period of Q2 2024 is no later than December 31, 2024.

The VAT payment deadline for the tax period of Q3 2024 is no later than December 31, 2024.

b) In cases where enterprises and organizations specified in Article 3 of this Decree have branches or affiliated units declaring VAT separately with the tax authorities managing the branches or affiliated units, these branches or affiliated units are also subject to the VAT payment extension. If the branches or affiliated units of the enterprises or organizations specified in clauses 1, 2, and 3 of Article 3 of this Decree do not engage in production or business activities in the sectors and industries eligible for the extension, such branches or affiliated units are not subject to VAT payment extension.

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The VAT payment deadline for the tax period of November 2024 and December 2024 is no later than December 31, 2024.

Note: Decree 64/2024/ND-CP is effective until December 31, 2024.

Shall enterprises with various business operations be entitle to a tax deferral in Vietnam?

According to Article 4 of Decree 64/2024/ND-CP, if a business has various business operations, including those listed in clauses 1, 2, and 3 of Article 3 of Decree 64/2024/ND-CP, the business is eligible for an extension of the entire amount of VAT and corporate income tax payable; business households and individuals are granted a full extension on VAT and personal income tax as guided in Decree 64/2024/ND-CP.

What is the deadline for submission of VAT returns in Vietnam for November 2024 and December 2024? (Image from Internet)

Which subjects are currently eligible for a tax deferral in Vietnam?

According to Article 3 of Decree 64/2024/ND-CP, the specific provisions are as follows:

- enterprises, organizations, households, business households, and individuals engaged in production in the following economic sectors:

+ Agriculture, forestry, and fishery;

+ Food production and processing; textiles; apparel production; leather production and related products; wood processing and production of wood, bamboo products (excluding bed, cabinet, table, chair); production of straw, chaff, and plaiting materials; paper production and products; rubber and plastic product manufacturing; production of non-metallic mineral products; metal production; mechanical processing; metal treatment and coating; electronic products, computers, and optical products production; car and other motor vehicle production; furniture production, including bed, cabinet, table, chair;

+ Construction;

+ Publishing activities; cinematography, television program production, sound recording, and music publishing;

+ Extraction of crude oil and natural gas (extension not applicable to corporate income tax for crude oil, condensate, natural gas collected under agreements, contracts);

+ Beverage production; printing, reproduction of records of all kinds; production of coke, refined petroleum products; chemical production and chemical product manufacturing; manufacturing of fabricated metal products (except machinery, equipment); motorcycle and motorbike production; machinery and equipment repair, maintenance, and installation;

+ Sewerage and waste treatment.

- enterprises, organizations, households, business households, and individuals engaged in business in the following economic sectors:

+ Transportation, warehousing; accommodation and food services; education and training; healthcare and social assistance activities; real estate business activities;

+ Labor and employment service activities; travel agency activities, tour business and support services, related to promotion and organization of tours;

+ Creative, artistic, and entertainment activities; library activities, archives, museums, and other cultural activities; sports, amusement, and entertainment activities; motion picture projection activities;

+ Broadcast, telecommunications; computer programming, consultancy, and related activities; information service activities;

+ Support activities for mining.

- Enterprises, organizations, households, business households, and individuals engaged in the production of prioritized supporting industry products; key mechanical products.

+ Prioritized supporting industry products are determined according to Decree 111/2015/ND-CP dated November 3, 2015, of the Government of Vietnam on the development of the supporting industry; key mechanical products are determined according to Decision No. 319/QD-TTg dated March 15, 2018, of the Prime Minister of the Government of Vietnam approving the development strategy for Vietnam's mechanical industry until 2025, with a vision to 2035.

- Small and microenterprises identified according to the provisions of the Law on Supporting Small and Medium Enterprises 2017 and Decree No. 80/2021/ND-CP dated August 26, 2021 of the Government of Vietnam providing detailed regulations on a number of articles of the Law on Supporting Small and Medium Enterprises.

+ The industry, field of business, organizations, households, business households, and individuals in business specified in clauses 1, 2, and 3 of this Article refer to the sectors and fields that the business, organization, household, business household, and individual in business engage in production, business activities, and generate revenue in 2023 or 2024.