Deferral of excise tax on Vietnam-made automobiles

Deferral of excise tax on Vietnam-made automobiles
Bảo Ngọc

On December 4, 2021, the Vietnamese Government promulgated Decree 104/2021/ND-CP on extending the deadline for paying excise tax on domestically manufactured or assembled automobiles

According to this Decree, extending the deadline for paying special consumption tax (SCT) incurred in the October and November 2021 tax periods for domestically manufactured or assembled cars.

The extension time from the end of the time limit for payment of excise tax in accordance with the law on tax administration, specifically as follows:

- The deadline for paying excise tax incurred in the tax period of October 2021 is December 20, 2021 at the latest.

- The deadline for paying excise tax incurred in the tax period of November 2021 is December 30, 2021 at the latest.

(After the above extension period, the payment of SCT for domestically manufactured or assembled automobiles shall comply with current regulations).

In case the taxpayer makes additional declarations to the tax declaration dossier of the extended tax period, leading to an increase in the payable excise tax amount, the extended tax amount includes the additional payable tax amount due to the additional declaration.

In case taxpayers are eligible for an extension to declare and submit SCT declarations according to current regulations, they have not yet paid the SST payable arising on the declared SCT declaration.

Decree 104/2021/ND-CP takes effect from December 4, 2021

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