Circular 16: Conditions, orders of and procedures for extension of EIT payment time limit

Conditions, orders of and procedures for extension of enterprise income tax (EIT) payment time limit are specified in Article 4 of Circular No. 16/2013/TT-BTC of the Ministry of Finance of Vietnam as follows:

- Firstly, the subjects that are eligible for extension of enterprise income tax payment time limit must be determined: Enterprises entitled to prolong EIT payment time limit specified in Article 1 this Circular are enterprises established and operate under Vietnam’s laws, implement regulations on accounting, invoices, vouchers as prescribed by law and tax payment as declared.

- Enterprises being subjects of extension as prescribed in Article 1 this Circular must make Annex No. 1 (promulgated together with this Circular) and send it to the direct management tax agencies, enclosed with quarterly declaration on temporarily-calculating EIT being entitled to prolong tax payment time limit, in which clearly defining: Condition of enterprise for being subjects of extension of EIT payment time limit and the EIT amounts entitled to prolong tax payment time limit.

It should be noted that in the duration entitled to prolong tax payment time limit, enterprises shall not be considered as violating tax payment delay and not be sanctioned on act of deferred tax payment for tax amounts entitled to prolong payment time limit.

Besides, Circular No. 16/2013/TT-BTC also stipulates the duration for extension of EIT payment time limit, specifically as follows:

Enterprises implement declaration of quarterly temporary payment EIT amounts of 2013 as prescribed of the Law on Tax administration. Duration of extension of tax payment time limit is 06 months from the day of ending time limit of EIT payment for the payable EIT amounts arising of quarter I of 2013 and 03 months from the day of ending time limit of EIT payment for the payable EIT amounts arising of quarter II and quarter III of 2013 according to provisions of the Law on Tax administration as follows:

- Duration of extension of tax payment time limit for the payable EIT amounts arising of quarter I of 2013 entitled to prolong tax payment time limit shall be not later than October 30, 2013.

- Duration of extension of tax payment time limit for the payable EIT amounts arising of quarter II of 2013 entitled to prolong tax payment time limit shall be not later than October 30, 2013.

- Duration of extension of tax payment time limit for the payable EIT amounts arising of quarter III of 2013 entitled to prolong tax payment time limit shall be not later than January 30, 2014.

If tax payment days specified above are days off as prescribed by law, the duration of extension of tax payment time limit shall be calculated on the next working day.

View other provisions at Circular No. 16/2013/TT-BTC of the Ministry of Finance of Vietnam, effective from March 25, 2013.

Thu Ba

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