Extension of tax and land rent payment deadlines for 2024 in Vietnam

Extension of tax and land rent payment deadlines for 2024 in Vietnam (Internet image)

On June 17, 2024, Hanoi issued Decree 64/2024/ND-CP extending the deadlines for the payment of value-added tax, corporate income tax, personal income tax, and land rent for the year 2024.

Extension of tax and land rent payment deadlines for 2024 in Vietnam

The extension of tax and land rent payment deadlines for 2024 is as follows:

- For Value-added Tax (excluding VAT on imports):

The deadline for the payment of VAT incurred for the tax periods from May to September 2024 (for businesses filing VAT monthly) and the second quarter of 2024 and the third quarter of 2024 (for businesses filing VAT quarterly) of eligible businesses and organizations is extended.

The extension is 5 months for VAT of May 2024, June 2024, and the second quarter of 2024.

The extension is 4 months for VAT of July 2024; 3 months for VAT of August 2024; 2 months for VAT of September 2024 and the third quarter of 2024.

The extension period is calculated from the end of the deadline for VAT payment as prescribed by tax law.

Eligible businesses and organizations must file their monthly and quarterly VAT returns as stipulated by current law but are not required to pay the VAT incurred as declared in the VAT return.

The extended VAT payment deadlines are as follows:

+ The VAT payment deadline for the tax period of May 2024 is no later than November 20, 2024.

+ The VAT payment deadline for the tax period of June 2024 is no later than December 20, 2024.

+ The VAT payment deadline for the tax period of July 2024 is no later than December 20, 2024.

+ The VAT payment deadline for the tax period of August 2024 is no later than December 20, 2024.

+ ​The VAT payment deadline for the tax period of September 2024 is no later than December 20, 2024.

+ ​The VAT payment deadline for the second quarter of 2024 is no later than December 31, 2024.

+ ​The VAT payment deadline for the third quarter of 2024 is no later than December 31, 2024.

If enterprises or organizations with branches or subordinate units that declare VAT separately to the direct managing tax authority of the branches or subordinate units, then the branches or subordinate units are also subject to the extension of VAT payment. If the branches or subordinate units of the enterprises or organizations mentioned in Clauses 1, 2, 3, Article 3 of Decree 64/2024/ND-CP do not operate in the sectors or industries entitled to the extension, then those branches or subordinate units are not subject to the extension of VAT payment.

- For Corporate Income Tax:

The deadline for the payment of corporate income tax temporarily assessed for the second quarter of the 2024 corporate income tax period for eligible businesses and organizations is extended for 3 months from the end of the corporate income tax payment deadline as prescribed by tax law.

If enterprises or organizations with branches or subordinate units that declare corporate income tax separately to the direct managing tax authority of the branches or subordinate units, then the branches or subordinate units are also subject to the extension of corporate income tax payment.

If the branches or subordinate units of the enterprises or organizations mentioned in Clauses 1, 2, 3, Article 3 of Decree 64/2024/ND-CP do not operate in the sectors or industries entitled to the extension, then those branches or subordinate units are not subject to the extension of corporate income tax payment.

- For VAT and Personal Income Tax of Business Households and Individuals:

The deadline for the payment of VAT and personal income tax for tax amounts incurred in 2024 by business households and individuals operating in the sectors and industries mentioned in Clauses 1, 2, 3, Article 3 of Decree 64/2024/ND-CP is extended. Business households and individuals must pay the extended tax amounts no later than December 30, 2024.

- For Land Rent:

The deadline for the payment of 50% of the required land rent incurred in 2024 (second period of 2024) by businesses, organizations, households, and individuals eligible for the extension and who are directly leased land by the state under a decision or contract with competent state authorities in the form of annual land rent payment is extended for 2 months from October 31, 2024.

This provision applies even in cases where businesses, organizations, households, and individuals have multiple state land lease decisions or contracts and engage in various economic activities, including the sectors and industries specified in Clauses 1, 2, 3, Article 3 of Decree 64/2024/ND-CP.

For businesses, organizations, business households, and individuals operating in multiple economic sectors, including those specified in Clauses 1, 2, 3, Article 3 of Decree 64/2024/ND-CP, the entire payable VAT, corporate income tax, and total VAT and personal income tax for business households and individuals are eligible for the extension as guided by this Decree.

Decree 64/2024/ND-CP takes effect in Vietnam from June 17, 2024, to December 31, 2024.

After the aforementioned extension period, tax and land rent payment deadlines will be carried out per current regulations.

Nguyen Ngoc Que Anh

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