Which entities are subjects to extension of payment deadline for personal income tax in Vietnam for the tax period of August 2024?

Which entities are subjects to extension of payment deadline for personal income tax in Vietnam for August 2024?

According to Article 3 of Decree 64/2024/ND-CP, the details of the cases where enterprises are granted an extension for the payment deadline of value-added tax for 2024 include:

(1) Individuals engaged in production in the following economic sectors:

- Agriculture, forestry, and fisheries;

- Manufacturing and processing of food; textiles; apparel manufacturing; leather production and related products; wood processing and products made from wood, bamboo, and rattan (excluding beds, cabinets, tables, and chairs); production of products from straw and knitting materials; paper production and paper products; production of rubber and plastic products; production of non-metallic mineral products; metal production; mechanical processing; metal treatment and coating; production of electronic products, computers, and optical products; production of automobiles and other motor vehicles; production of beds, cabinets, tables, and chairs;

- Construction;

- Publishing activities; film activities, television program production, sound recording, and music publishing;

- Extraction of crude oil and natural gas (excluding corporate income tax of crude oil, condensate, and natural gas collected under agreements and contracts);

- Beverage production; printing, copying of records of all kinds; production of coke, refined petroleum products; chemical production and chemical product manufacturing; production of fabricated products from metals (excluding machinery and equipment); production of motorcycles, motorbikes; repair, maintenance, and installation of machinery and equipment;

- Wastewater drainage and treatment.

(2) Individuals engaged in business in the following economic sectors:

- Cargo transportation and warehousing; accommodation and food services; education and training; healthcare and social assistance activities; real estate business activities;

- Labor and employment services; activities of travel agencies, tour business, and supporting services related to promotion and organization of tours;

- Creative, artistic and entertainment activities; activities of libraries, archives, museums, and other cultural activities; sports and amusement activities; film screening activities;

- Broadcasting activities; computer programming, consulting services, and other related activities; information service activities;

- Support services for mining.

The list of economic sectors mentioned in clauses 1 and 2 of Article 3 of Decree 64/2024/ND-CP is determined according to Decision 27/2018/QD-TTg.

The economic sector classification in Appendix I issued with Decision 27/2018/QD-TTg includes 5 levels and is applied according to the following principles: In cases where the names of economic sectors mentioned in clauses 1 and 2 of Article 3 of Decree 64/2024/ND-CP fall within level 1, the economic sectors subject to the extension include all economic sectors at sub-levels 2, 3, 4, and 5 of level 1;

In cases where they fall within level 2, the economic sectors subject to the extension include all economic sectors at sub-levels 3, 4, and 5 of level 2;

In cases where they fall within level 3, the economic sectors subject to the extension include all economic sectors at sub-levels 4 and 5 of level 3;

In cases where they fall within level 4, the economic sectors subject to the extension include all economic sectors at sub-level 5 of level 4.

(3) Individuals engaged in the production of priority supporting industry products; key mechanical products.

Priority 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 supporting industries; key mechanical products are determined according to Decision 319/QD-TTg dated March 15, 2018, of the Prime Minister of the Government of Vietnam approving the Development Strategy of Vietnam's Mechanical Industry to 2025, vision to 2035.

Which entities are subjects to extension of payment deadline for personal income tax in Vietnam for the tax period of August 2024? (Image from Internet)

What is the deadline for the personal income tax payment in Vietnam for the tax period of August 2024?

Based on clause 1 of Article 55 of the 2019 Tax Administration Law, it is stipulated as follows:

Tax payment deadline

1. In cases where the taxpayer calculates the tax, the tax payment deadline is the last day of the tax declaration submission deadline. In case of a supplementary tax declaration, the tax payment deadline is the tax declaration submission deadline of the tax period with errors or omissions.

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Based on the provisions of clause 1 of Article 44 of the 2019 Tax Administration Law regarding the monthly tax declaration submission deadline as follows:

Tax declaration submission deadline

1. The tax declaration submission deadline for taxes declared monthly or quarterly is as follows:

a) No later than the 20th of the following month for monthly tax declarations and payments;

b) No later than the last day of the first month of the following quarter for quarterly tax declarations and payments.

2. The tax declaration submission deadline for taxes with an annual tax period is as follows:

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the tax declaration submission deadline for taxes declared monthly is no later than the 20th of the following month of the tax liability arising.

Therefore, the deadline for the personal income tax payment for the tax period of August 2024 is no later than September 20, 2024, which falls on a Friday.

What is the extended deadline for the personal income tax payment in Vietnam for the tax period of August 2024?

Article 4 of Decree 64/2024/ND-CP stipulates:

Extension of tax and land rent payment deadlines

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

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3. For value-added tax and personal income tax of business households and individual business persons

Extend the payment deadline for value-added tax, personal income tax for the tax amount arising in 2024 of business households and individual business persons operating in the economic sectors and fields mentioned in clauses 1, 2, and 3 of Article 3 of this Decree. Business households and individual business persons must pay the deferred tax amount by December 30, 2024, at the latest.

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The extended deadline for the personal income tax payment for the tax period of August 2024 is December 30, 2024.