What is the deadline for extending the payment of taxes and land rent in Vietnam? Who is eligible for the extension of the payment of taxes and land rent in Vietnam in 2024?

Officially extending the deadline for the payment of taxes and land rent until December 31, 2024 in Vietnam

On June 17, 2024, the Government issued Decree 64/2024/ND-CP on extending the deadline for Value Added Tax, Corporate Income Tax, Personal Income Tax, and land rent payment in 2024.

In Article 5 of Decree 64/2024/ND-CP, the provisions regarding the effectiveness of the implementation are as follows:

Implementation and effectiveness

1. This Decree shall be effective from the date of its issuance until December 31, 2024.

2. After the extension period as stated in this Decree, the deadline for tax and land rent payment shall be implemented according to the current regulations.

3. The Ministry of Finance shall be responsible for directing, organizing the implementation, and resolving any issues arising during the implementation of this Decree.

4. The Ministers, Heads of equivalent agencies, Heads of government agencies, Chairpersons of provincial and centrally-run city People's Committees, and relevant enterprises, organizations, households, and individuals shall be responsible for implementing this Decree.

As regulated above, Decree 64/2024/ND-CP stipulates the extension of the deadline for Value Added Tax, Corporate Income Tax, Personal Income Tax, and land rent payment in 2024, which will be effective from June 17, 2024, until December 31, 2024.

What is the deadline for extending the payment of taxes and land rent in Vietnam? Who is eligible for the extension of the payment of taxes and land rent in Vietnam in 2024? - image from internet

Who is eligible for the extension of the payment of taxes and land rent in Vietnam in 2024?

In Article 3 of Decree 64/2024/ND-CP, the provisions regarding the eligible entities for the extension of tax and land rent payment in 2024 are as follows:

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

- Agriculture, forestry, and fisheries;

- Food processing, textile, garment production, leather and related products manufacturing, wood processing and manufacturing (excluding beds, cabinets, tables, chairs), straw, grass, and bamboo products manufacturing, paper and paper products manufacturing, rubber and plastic products manufacturing, non-metallic mineral products manufacturing, metal production, mechanical processing, metal treatment and coating, electronic products, computer and optical products manufacturing, automobile and other motor vehicle manufacturing, beds, cabinets, tables, chairs manufacturing;

- Construction;

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

- Crude oil and natural gas extraction (excluding the corporate income tax extension for crude oil, condensate, natural gas subject to agreements and contracts);

- Beverage production, various types of copying and recording activities, coke production, refined petroleum products manufacturing, chemical and chemical product manufacturing, precast metal products manufacturing (excluding machinery and equipment), motorcycle and motorbike manufacturing, machinery and equipment repair, maintenance, and installation;

- Water drainage and wastewater treatment.

(2) Enterprises, organizations, households, business households, and individuals engaged in business activities in the following economic sectors:

- Warehousing and storage services, accommodation and food services, education and training, healthcare and social assistance activities, real estate business activities;

- Labor service and employment activities, travel agency, tour operator, and related promotion and organization services;

- Creative, artistic, and entertainment activities, library, archive, museum activities, and other cultural activities, sports and recreational activities, film screening activities;

- Radio and television broadcasting activities, computer programming, consulting services, and other computer-related activities, information services;

- Support services for mining.

(3) Enterprises, organizations, households, business households, and individuals engaged in the production of priority industrial support products and key mechanical products.

(4) Small and micro enterprises as defined by the Law on Support for Small and Medium-sized Enterprises in 2017 and Decree 80/2021/ND-CP.

The economic sectors and fields mentioned in (1), (2), and (3) above are the sectors and fields in which enterprises, organizations, households, business households, and individuals engage in production, business activities, and generate revenue in 2023 or 2024.

When is the deadline for the extension of Corporate Income Tax payment in 2024 in Vietnam?

According to Clause 2 Article 4 of Decree 64/2024/ND-CP, the deadline for the extension of Corporate Income Tax payment is as follows:

- The extension applies to the provisional Corporate Income Tax payment for the second quarter of the 2024 tax period. The extension period is 3 months, starting from the end date of the Corporate Income Tax payment deadline as prescribed by tax management laws.

- In case an enterprise or organization has branches or units that independently declare Corporate Income Tax with the tax authority directly managing the branch or unit, those branches or units are also eligible for the extension of Corporate Income Tax payment.

- If the branches or units of an enterprise or organization mentioned in Clause 1, Clause 2, and Clause 3 of Article 3 of Decree 64/2024/ND-CP do not engage in production or business activities in the sectors and fields eligible for the extension, those branches or units are not eligible for the extension of Corporate Income Tax payment.