Proposing to extend and postpone VND 125,000 billion of tax for businesses in 2022

The Ministry of Finance has just published the first draft of the Decree extending the deadline for paying taxes and land and water surface rents. According to this draft, the total amount of VAT extended from March to August 2022 and the first and second quarters of 2022 is about 53,300-54,300 billion VND.

The second type of tax that businesses are deferred to pay is corporate income tax (CIT). To facilitate capital support for businesses, especially in the current period, The financial propose to extend tax payment for corporate income tax as follows: Extension of time limit for tax payment for temporarily paid corporate income tax of the first quarter and second quarter of the corporate income tax period of 2022. the extension period is 3 months from the end of the time limit for paying corporate income tax in accordance with the law on tax administration.

Extending the tax payment deadline for the temporarily paid CIT amount in the first and second quarters of the corporate income tax period of 2022, the estimated tax extension is about 51,000-52,000 billion VND.

Proposing to extend and postpone VND 125,000 billion of tax for businesses. Photo Nhu Y

To remove difficulties for business households and individuals, the Ministry of Finance proposed: Extension of the deadline for payment of value-added tax and personal income tax for the amount of tax payable in 2022 of households. business, individual business. Business households and individuals shall pay the extended tax amount in this Clause by December 31, 2022. The total amount of extended tax for business households and individuals is about VND 15,304 billion.

For land rents and water surface rents, the Ministry of Finance proposes: Extend the time limit for paying land rents and water surface rents for the payable land and water surface rents for the first period of 2022. 6 months from May 31, 2022. It is expected that the land rent and water surface rent will be extended about 3,500-3,700 billion VND.

According to the Ministry of Finance, the tax payment extension and postponement mechanism is an interest-free loan from the State to businesses and individuals to have financial resources for production and business, and to increase resources in the future. thereby increasing the contribution to the state budget.

In order not to affect the state budget balance in 2022, the Ministry of Finance proposes as follows: A 6-month extension of value-added tax amounts from March to May 2022 and the first quarter of 2022. 5 months for the value added tax amount of June 2022 and the second quarter of 2022, 4 months extension for the value added tax amount of July 2022, 3 months extension for the value added tax amount increase in August 2022 of the enterprise. The extension at this point is counted from the end of the time limit for payment of value added tax in accordance with the law on tax administration.

According to Quynh Nga