Vietnam: VAT, CIT, PIT and land rent deferred deadlines

Decree No. 41/2020/NĐ-CP of Vietnam’s Government provides for deferral of VAT, CIT for enterprises, organizations; deferral of VAT, PIT for business households and individuals and deferral of land rent for enterprises, organizations, households and individuals specified in Article 2 of this Decree. Specifically, deferred deadlines are as follows:

1. VAT (except VAT paid upon importation of goods) of enterprises, organizations specified in Article 2 of Decree No. 41/2020/NĐ-CP

- Deadline for payment of VAT incurred in March 2020 is deferred to September 20, 2020.

- Deadline for payment of VAT incurred in April 2020 is deferred to October 20, 2020.

- Deadline for payment of VAT incurred in May 2020 is deferred to November 20, 2020.

- Deadline for payment of VAT incurred in June 2020 is deferred to December 20, 2020.

- Deadline for payment of VAT incurred in the first quarter of 2020 is deferred to September 30, 2020.

- Deadline for payment of VAT incurred in the second quarter of 2020 is deferred to December 30, 2020.

2. Corporate income tax (CIT) of enterprises, organizations specified in Article 2 of Decree No. 41/2020/NĐ-CP

CIT declared in the 2019’s annual statement and CIT declared in the first and second quarters of 2020 will be deferred for 05 months from the deadline for CIT payment prescribed by tax administration laws.

3. VAT, PIT of business households and individuals specified in Clauses 1, 2, 3 Article 2 of Decree No. 41/2020/NĐ-CP

The deadline for paying VAT and CIT incurred in 2020 of household and individual businesses operating in the economic sectors, business lines specified in Clauses 1, 2, 3 Article 2 of Decree No. 41/2020/NĐ-CP is deferred to December 31, 2020.

Moreover, Decree No. 41/2020/NĐ-CP also stipulates that the deadline for annual payment of rents that are due in beginning of 2020 for direct lease of land by the State to the taxpayers mentioned in Article 2 of this Decree under decisions or contracts of competent authorities will be deferred for 05 months starting from May 31, 2010.

Nguyen Trinh

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