Vietnam: What is the extended payment deadline of the monthly and quarterly VAT in 2023 according to the new regulations?
Who has the extension of VAT payment deadline in Vietnam in 2023?
Pursuant to Article 3 of Decree No. 12/2023/ND-CP, the following entities are entitled to the extension of VAT payment deadline in 2023:
(1) Enterprises, organizations, households, household businesses, and individuals engaging in manufacturing activities in economic sectors below:
- Agriculture, forestry, and fishery;
- Food processing and production: textile; apparel production; leather and related product manufacturing; wood processing and wood, bamboo product manufacturing (except for beds, cabinets, seats, chairs, tables); hay, straw, and plaiting material product manufacturing; paper and paper product manufacturing; rubber and plastic product manufacturing; product manufacturing from other non-metallic alloys; metal manufacturing; mechanical engineering; metal treating and cladding; electronic appliance, computer, and optical product manufacturing; automobile and other motorized vehicle manufacturing; bed, cabinet, seat, chair, table manufacturing;
- Construction;
- Publishing; cinematography; television program, audio recording, music production;
- Crude oil and natural gas mining (deadline extension does not apply to corporate income tax of crude oil condensate, and natural gas obtained under agreements and contracts);
- Drink production; printing, copying records of all kinds; coke and refined petroleum product manufacturing; chemical and chemical product manufacturing; product manufacturing using precast metal (except for machinery and equipment); automobile and motorbike manufacturing; machinery and equipment repair, maintenance, and installation;
- Water drainage and wastewater treatment.
(2) Enterprises, organizations, households, household businesses, and individuals operating in business activities in economic sectors below:
- Transport and storage; accommodation and food and drink; education and training; medical and social assistance; real estate trading;
- Labor and employment services; operation of travel agents, tour operators, and services assisting, relating to advertisement and organization of travel tours;
- Composing, artistic, recreational activities; operation of libraries, archives, museums, and other cultural activities; sports and recreational activities; movie screening;
- Radio and television broadcasting; computer coding, consulting services, and other activities relating to computer; communication operations;
- Services assisting mining operation.
(3) Enterprises, organizations, households, household businesses, and individuals manufacturing supporting industry products prioritized for development; key mechanical engineering products.
(4) Small and micro enterprises determined in accordance with the 2017 Law on Assistance for Small and Medium Enterprises and Decree No. 80/2021/ND-CP dated August 26, 2021 of the Government.
Economic sectors and fields of operation of enterprises, organizations, households, household businesses, and individuals specified as above are sectors and fields in which the enterprises, organizations, households, household businesses, and individuals generate revenues in 2022 or 2023.
Vietnam: What is the extended payment deadline of the monthly and quarterly VAT in 2023 according to the new regulations?
How many months does the Government extend the VAT payment deadline in Vietnam in 2023?
Pursuant to the provisions of Clause 1, Article 4 of Decree No. 12/2023/ND-CP on the extension of VAT payment deadline as follows:
- Extend payment deadline for VAT payables (including taxes distributed to other provinces where taxpayers are headquartered, taxes paid every they are incurred) of tax period ranging from March to August of 2023 (if VAT is declared on a monthly basis) and tax period of the first Quarter and the second Quarter of 2023 (if VAT is declared on a quarterly basis) of enterprises and organizations under Article 3 of Decree No. 12/2023/ND-CP.
The extended period of 6 months shall apply to VAT that is incurred during the period from March to May of 2023 and in the first Quarter of 2023; 5 months for VAT that is incurred in June of 2023 and the second Quarter of 2023; 4 months for VAT that is incurred in July of 2023; 3 months for VAT that is incurred in August of 2023.
Extended periods under this Point starts from the deadline for VAT payment in accordance with tax administration laws.
Enterprises and organizations eligible for extension shall declare and submit monthly, quarterly tax return in accordance with applicable laws and are not yet required to pay VAT payables on the filed tax return.
What is the extended payment deadline of the monthly and quarterly VAT in 2023?
Pursuant to Clause 1, Article 4 of Decree No. 12/2023/ND-CP, extended payment deadline of monthly, quarterly VAT in 2023 shall be as follows:
Extended payment deadline of VAT period of March of 2023 shall be October 20 of 2023.
Extended payment deadline of VAT period of April of 2023 shall be November 20 of 2023.
Extended payment deadline of VAT period of May of 2023 shall be December 20 of 2023.
Extended payment deadline of VAT period of June of 2023 shall be December 20 of 2023.
Extended payment deadline of VAT period of July of 2023 shall be December 20 of 2023.
Extended payment deadline of VAT period of August of 2023 shall be December 20 of 2023.
Extended payment deadline of VAT period of the first Quarter of 2023 shall be October 31 of 2023.
Extended payment deadline of VAT period of the second Quarter of 2023 shall be October 31 of 2023.
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