What subjects are eligible for exemption of tax payable by household businesses and individual businesses affected by Covid-19 in Vietnam?
What subjects are eligible for exemption of tax payable by household businesses and individual businesses affected by Covid-19 in Vietnam? What taxes shall be exempt for household businesses and individual businesses affected by Covid-19 in Vietnam?
What subjects are eligible for exemption of tax payable by household businesses and individual businesses affected by Covid-19 in Vietnam?
Pursuant to Clause 1 Article 2 of the Decree 92/2021/NĐ-CP stipulating subjects that are eligible for exemption of tax payable by household businesses and individual businesses affected by Covid-19 in Vietnam as follows:
Household businesses and individual businesses that are resident individuals that have business operation in districts, district-level towns and district-level cities (hereinafter referred to as "districts") regardless of business lines, tax declaration and payment method that are affected by Covid-19 in 2021, regardless of business lines, tax declaration and payment methods.
Presidents of the People’s Committees of provinces and centrally affiliated cities (hereinafter referred to as "provinces") shall promulgate lists of districts affected by Covid-19 according to 2021's notifications of local competent authorities of termination or suspension of business operation of one or multiple household businesses and individual businesses in their areas due to Covid-19 (including lockdown, social distancing of one or multiple areas in the administrative division).
What taxes shall be exempt for household businesses and individual businesses affected by Covid-19 in Vietnam?
Pursuant to Clause 2 Article 2 of the Decree 92/2021/NĐ-CP stipulating tax exemption as follows:
a) The household businesses and individual businesses specified in Clause 1 of this Article shall be granted exemption of personal income tax (PIT), value-added tax (VAT), excise tax, resource royalty, environment protection tax that are incurred during business operation in the months of the third quarter and fourth quarter of 2021.
Tax exemption specified in this Clause does not apply to incomes, revenues from supply of software products and services; digital entertainment products and services, videogames, digital films, digital photos, digital music; digital advertising.
b) In case tax incurred during the third quarter and fourth quarter of 2021 has been paid, the tax authority shall offset the overpaid tax against debts or amounts payable in the next periods and refund overpaid amounts (if any) in accordance with tax administration laws.
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