Mobile menu icon
05 GROUPS OF TAXPAYERS WHO ENTITLED TO DEFERRAL OF VAT, CIT, PIT AND LAND RENT FROM APRIL 2020

05 GROUPS OF TAXPAYERS WHO ENTITLED TO DEFERRAL OF VAT, CIT, PIT AND LAND RENT FROM APRIL 2020

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

05 Groups Of Taxpayers Who Entitled On Tax Deferral And Land Rent

In order to support businesses affected by COVID 19, the Government has continuously issued many new policies, following the general policies issued from March 2020 onwards, VIVA would like to update the regulations on tax deferral including value-added tax, corporate income tax, personal income tax, and land rent is effective from the beginning of April 2020:

05 Groups Of Taxpayers Who Entitled On Tax Deferral And Land Rent

 

THERE ARE 05 GROUP OF TAXPAYERS  ENTITLED TO APPLY THIS TAX DEFERRAL

Group 1: Taxpayers that are manufacturers in the following business lines:

  1. Agriculture, forestry, aquaculture;
  2. Production and processing of food; textiles; garments; manufacture of leather and leather products; wood treatment and manufacture of products from wood, bamboo, rattan (except furniture); manufacture of products from straw and plaiting materials; manufacture of paper products; manufacture of rubber and plastic products; manufacture of products from other non-metallic minerals; metal production; mechanical working; metal treating and coating; manufacture of electronics, computers and optical products; manufacture of automobiles and other motor vehicles; furniture production;
  3. Construction.

Group 2: Taxpayers that operate in the following business lines:

  1. Transport and warehousing; accommodation, food, and drink; education and training; healthcare and social assistance; real estate trading;
  2. Employment services; travel agencies, tourism services, and auxiliary tourism services;
  3. Composing, art and entertainment; library, archive, museum operation and other artistic activities; sports and entertainment; cinemas.

Group 3: Taxpayers that are manufacturers of prioritized ancillary industry products or key mechanical products.

Group 4:  Small enterprises and microenterprises

Group 5:  Credit institutions and foreign bank branches (FBB) shall provide assistance for enterprises, organizations, and individuals affected by COVID-19 as prescribed by the State bank of Vietnam.

POSTPONE PAYMENT OF TAXES INCURRED FROM APRIL 2020

Officially deferral the deadline for paying value-added tax, corporate income tax, personal income tax and land rent from early April 2020. This deferral of tax payment deadline is one of a series of decisions of The government that aims to energize businesses from the influence of COVID 19.

05 Groups Of Taxpayers Who Entitled On Tax Deferral And Land Rent

TAX DEFERRAL OF VAT

Deferral for 05 months from the deadlines for VAT incurred by the enterprises and organizations. Enterprises and organizations eligible for tax deferral shall submit their monthly or quarterly VAT declarations in accordance with applicable laws and may postpone payment of the VAT declared. Deferred deadlines:

  • 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.

The deferral is applied for branch or affiliated unit that declares VAT separately to its supervisory tax authority.

TAX DEFERRAL OF CORPORATE INCOME TAX (CIT)

  • Deferred for 05 months from the deadline for CIT payment declared in the 2019’s annual statement and CIT declared in the first and second quarters of 2020 by organizations and enterprises.
  • In case an enterprise or organization has already paid the CIT declared in the 2019’s annual statement, it may offset the paid CIT against other unpaid taxes.
  • The deferral is applied for branch or affiliated unit that declares CIT separately to its supervisory tax authority.

VAT AND PERSONAL INCOME TAX (PIT) OF HOUSEHOLD AND INDIVIDUAL BUSINESSES

  • The deadline for paying VAT and CIT incurred in 2020 of household and individual businesses is deferred to December 31, 2020.

LAND RENTS

  • Deferred for 05 months to deadline, May 31, 2020, at the earliest, for an annual payment of rents that are due at the beginning of 2020 for direct lease of land by the State to the taxpayers under decisions or contracts of competent authorities.
  • This also applies in case a taxpayer is leasing land from the State under more than one decision or contract and operates multiple business lines.

This deferral policy is applicable to specific business and business lines, please refer to our “There are 05 groups of taxpayers who entitled to deferral of tax” or contact with our specialists for practice cases.

VIVA will make every effort to join hands with the CEOs and the business community, spread the strength, overcome spirit and be ready to return strongly when the COVID-19 epidemic is over.

VIVA understands that the enterprises and CEOs are facing great challenges ahead, hand in hand together, we are ready to and free of charge to provide detailed information related to conditions and procedures to support you to apply these policies in the proper and efficient manner.

ABOUT VIVA BUSINESS CONSULTING

VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services, VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

Thanks to a unique combination of local expertise and global experiences, VIVA BUSINESS CONSULTING is the one-stop solution for the required compliance procedures in Vietnam for foreign investors and experts. We are still here since 2006s because of our thousands of satisfied clients and our employees. Our staying power is a testament to the professional resources, and so much more.

 

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

 

Read more:

Published date:

Share this post

TABLE OF CONTENT
Haven't found what you're looking for?
SEARCH
HotlineZaloWhatsappEmailGoogle maps
DANH MỤC DỊCH VỤ TẠI VIVA
Search