04 Subjects Eligible for Extension of Tax and Land Rent Payment Deadlines in 2024 in Vietnam

04 Subjects Eligible for Extension of Tax and Land Rent Payment Deadlines in 2024 in Vietnam​ (Image from the Internet)

On June 17, 2024, the Government of Vietnam promulgated Decree 64/2024/ND-CP, extending the deadlines for value-added tax, corporate income tax, personal income tax, and land rent payment in 2024.

04 subjects eligible for extension of tax and land rent payment deadlines in 2024 in Vietnam

To be specific, the subjects eligible for extension of tax and land rent payment deadlines in 2024 are as follows:

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

- Agriculture, forestry, and fisheries;

- Production and processing of food; textiles; garment production; leather production and related products; processing of wood and production of products from wood, bamboo, and rattan (excluding beds, wardrobes, tables, chairs); production of products from straw, thatch, and woven materials; production of paper and paper products; production of rubber and plastic products; production of non-metallic mineral products; production of metals; mechanical processing; metal treatment and coating; production of electronic products, computers, and optical products; production of automobiles and other motor vehicles; production of beds, wardrobes, tables, chairs;

- Construction;

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

- Extraction of crude oil and natural gas (extension not applicable to corporate income tax on crude oil, condensate, and natural gas collected under agreements or contracts);

- Production of beverages; printing, reproduction of recorded media; production of coke, refined petroleum products; production of chemicals and chemical products; production of fabricated metal products (excluding machinery and equipment); production of motorcycles, motorbikes; repair, maintenance, and installation of machinery and equipment;

- Wastewater treatment and management.

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

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

- Employment services and labor activities; activities of travel agencies, tour operations and related support services, advertising, and tour organization;

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

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

- Supporting activities for mining.

The economic sectors mentioned in (1) and (2) are determined according to Decision 27/2018/QD-TTg which issues Vietnam's economic sector system.

The classification of economic sectors according to Appendix I issued together with Decision 27/2018/QD-TTg includes 5 levels and the determination of economic sectors is applied according to the principle: If the name of the economic sector mentioned in (1) and (2) belongs to level 1, the economic sector to which the extension regulation is applied includes all economic sectors of levels 2, 3, 4, 5 of level 1; if it belongs to level 2, the economic sector to which the extension regulation is applied includes all economic sectors of levels 3, 4, 5 of level 2; if it belongs to level 3, the economic sector to which the extension regulation is applied includes all economic sectors of levels 4, 5 of level 3; if it belongs to level 4, the economic sector to which the extension regulation is applied includes all economic sectors of level 5 of level 4.

(3) Enterprises, organizations, households, business households, individuals producing prioritized supporting industry products; products in the key mechanical engineering sector.

Prioritized supporting industry products are defined according to Decree 111/2015/ND-CP on the development of supporting industries; key mechanical engineering products are defined according to Decision 319/QD-TTg of 2018 approved by the Prime Minister on Vietnam's mechanical engineering sector development strategy to 2025, with a vision to 2035.

(4) Small and micro enterprises identified according to the Law on Support for Small and Medium Enterprises of 2017 and Decree 80/2021/ND-CP.

The economic sectors, fields of enterprises, organizations, households, business households, and individual businesses specified in (1), (2), and (3) are the sectors, fields in which enterprises, organizations, households, business households, and individual businesses have production, business activities, and generate revenue in 2023 or 2024.

More details can be found in Decree 64/2024/ND-CP effective from the date of signing until December 31, 2024.

After the extension period as specified in Decree 64/2024/ND-CP, tax and land rent payment deadlines will be executed according to the current regulations.

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