Deferral periods for 2023’s VAT, corporate income tax, and personal income tax in Vietnam

Le Truong Quoc Dat

18:02, 18/04/2023

On April 14, 2023, the Government of Vietnam promulgated Decree No. 12/2023/ND-CP on the extension of deadlines for payment of VAT, corporate income tax, personal income tax, and land rent in 2023.

VAT deferral period in 2023

The VAT deferral period in 2023 (excluding VAT incurred during importation) for VAT incurred in the tax period from March to August of 2023, the 1st and 2nd quarters of 2023 of enterprises and organizations prescribed in Article 3 of Decree No. 12/2023/ND-CP is as follows:

- 6 months for VAT incurred from March to May 2023 and the 1st quarter of 2023;

- 5 months for VAT incurred in June 2023 and the 2nd quarter of 2023;

- 4 months for VAT incurred in July 2023;

- 3 months for VAT incurred in August 2023;

The deferral period mentioned above begins from the VAT payment deadline according to tax administration laws.

Corporate income tax deferral in 2023

Regarding provisional corporate income tax of the 1st and 2nd quarters of the tax period of 2023 of enterprises and organizations prescribed in Article 3 of Decree No. 12/2023/ND-CP:

Deferral period shall be 3 months from the corporate income tax payment deadline according to tax administration laws.

VAT and personal income tax deferral for household and individual businesses

VAT and personal income tax payable in 2023 by household and individual businesses operating in the fields and sectors prescribed in Clauses 1, 2, 3 Article 3 of Decree No. 12/2023/ND-CP will be deferred until December 30, 2023.

See more details in Decree No. 12/2023/ND-CP of the Government of Vietnam, effective from April 14, 2023 to the end of December 31, 2023.

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