Proposal to extend 6-month VAT payment in Vietnam

Proposal to extend 6-month VAT payment in Vietnam (Internet image)

Draft Decree on extending the deadline for payment of VAT, corporate income tax, personal income tax and land rent in Vietnam 2023

Proposal to extend 6-month VAT payment in Vietnam

According to the draft Decree, for value-added tax (except value-added tax at the import stage):

(1) Extension of the tax payment deadline for the amount of value added tax payable (including the tax amount allocated to other provinces at the provincial level where the taxpayer is headquartered and the tax amount paid each time it is incurred) for the tax period from January to June 2023 (for the case of monthly VAT declaration) and the tax period of the first and second quarters of 2023 (for the case of quarterly VAT declaration) of the enterprises and organizations mentioned in Article 3 of this Decree.

The renewal period is 6 months for the value added tax amount from January to May 2023 and the first quarter of 2023, the extension period is 05 months for the value added tax amount of June 2023 and the second quarter of 2023. The extension period at this point is counted from the end of the time limit for payment of value added tax in accordance with the law on tax administration.

Enterprises and organizations eligible for extension shall declare and submit monthly and quarterly value-added tax declarations.
according to the provisions of current law, but have not yet paid the payable value-added tax arising from the declared value-added tax declaration.

The time limit for payment of value added tax of the month and quarter in Vietnam is extended as follows:

- The deadline for paying value added tax of the tax period January 2023 is August 21, 2023.

- The deadline for paying value added tax of the tax period February 2023 is September 20, 2023 at the latest.

- The deadline for paying value-added tax of the tax period of March 2023 is October 20, 2023 at the latest.

- The deadline for paying value added tax of the April 2023 tax period is November 20, 2023.

- The deadline for paying value-added tax of the May 2023 tax period is December 20, 2023.

- The deadline for paying value added tax of the tax period of June 2023 is December 20, 2023.

- The deadline for paying value-added tax of the tax period of the first quarter of 2023 is October 30, 2023.

- The deadline for paying value added tax of the tax period of the second quarter of 2023 is December 31, 2023.

(2) If an enterprise or organization mentioned in Article 3 of this Decree has branches or affiliated units, it must file a separate value added tax declaration with the tax authority directly managing the branch or affiliated units; branches and affiliated units are also eligible for the value added tax extension.

The extension is valid if a branch or affiliated unit of an enterprise or organization mentioned in Clauses 1 and 2 of Article 3 of this Decree does not have production and business activities in the economic sector or field; branches and affiliated units are not subject to the extension of payment of value added tax.

More details can be found in the draft Decree of the Government of Vietnam.

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