Gov’t extends deadlines for tax and land lease funds

The Authorities issued Decree No. 12/2023/ND-CP dated April 14, 2023 on time extension for fee of value-added tax (VAT), company earnings tax (CIT), private earnings tax (PIT) and land lease in 2023.

Illustration photo
Illustration picture

Decree 12 targets to ease difficulties confronted by companies amid a plunge in new orders and shrinking markets.

In response to the decree, the deadline for the VAT payable from March to Could and within the first quarter needs to be prolonged by six months.

The extension interval could be 5 months for companies anticipated to pay the VAT in June and the second quarter, together with a delay of 4 and three months for these with their fee deadline in July and August, respectively.

In the meantime, the fee of PIT of family companies and people working in precedence sectors could be delayed till December 31, 2023, on the newest.

The deadline for fee of CIT within the first and second quarters needs to be prolonged by three months.

People, households, and companies working in precedence sectors are entitled to a six-month deferral of land lease in 2023 from Could 31.

Decree 12 takes impact from the date of issuance to December 31, 2023.

Final 12 months, the Authorities provided tax deferrals and exemption price of VND233.5 trillion, giving vital help to enterprises to beat difficulties and get well manufacturing and enterprise within the post-pandemic interval.

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