Will the wastewater treatment company in Vietnam have a tax extension in 2022?

Are wastewater treatment companies in Vietnam eligible for tax deferral in 2022?

Pursuant to Clause 1, Article 3 of the Decree 34/2022/ND-CP stipulating the subject is extended as follows:

1. Enterprises, organizations, households, household businesses carrying out manufacture in the following lines of business:

a) Agriculture, forestry and aquaculture;

b) Food production, processing; textile; garments; manufacture of leather and related products; timber treatment and manufacture of products from wood, bamboo and rattan (except furniture); manufacture of products from straw, and plaiting materials; manufacture of paper and paper products; manufacture of products from rubber and plastic; manufacture of other non-metallic mineral products; metal production; mechanical processing; metal processing and coating; manufacture of electronic products, computers and optical products; manufacture of motor vehicles and other motorized vehicles; manufacture of furniture;

c) Construction;

d) Publishing activities; cinematography activities; TV show production, audio recording and music publishing;

dd) Extraction of crude oil and natural gas (except corporate income tax on crude oil, condensate and natural gas collected under international agreements, contracts);

e) Manufacture of beverage; printing, copying recordings; manufacture of coke, refined petroleum products; manufacture of chemicals and chemical products; manufacture of precast metal product (except machinery and equipment); manufacture of motorcycles; repair, maintenance and installation of machinery and equipment;

g) Drainage and wastewater treatment.

Thus, the wastewater treatment company in Vietnam is eligible for an extension of the tax payment period in 2022.

What is the method of extending the deadline for paying corporate income tax in Vietnam?

Pursuant to Clause 2, Article 4 of Decree 34/2022/ND-CP stipulating the extension of the time limit for payment of corporate income tax as follows:

2. Corporate income tax (CIT)

a) Deferral will be granted to provisional CIT of Q1 and Q2 2022 payable by the enterprises and organizations specified in Article 3 of this Decree. Deferral period shall be 03 months from the deadline for payment of CIT according to regulations of law on tax administration.

b) In case an enterprise or organization mentioned in Article 3 of this Decree has branches or affiliated units that separately declare CIT to their supervisory tax authorities, these branches or affiliated units are also eligible for CIT deferral. In case a branch or affiliated unit of an enterprise or organization mentioned in Clause 1, Clause 2 or Clause 3 Article 3 of this Decree does not operate in the business line eligible for tax deferral, it is not eligible for CIT deferral.

Best Regards!