Domestically-made cars are entitled to an extension of special consumption tax

According to Decree 32 recently issued by the Government, domestically manufactured and assembled cars will be extended the deadline for paying excise tax of the tax period from June to September this year. No later than November 20, 2022, enterprises must pay this entire tax amount.

If the taxpayer makes additional declarations of the extended tax period resulting in an increase in the amount of tax payable, the extended tax amount will include the additional tax payable due to the additional declaration.

If the taxpayer is eligible for an extension of time to declare and file tax returns as prescribed, the arising tax amount has not yet been paid.

Branches and agents of automobile manufacturing enterprises are also eligible for the extension to pay this tax and declare tax with the tax authority directly managing it. If the branch or affiliated unit of the enterprise has no activities of automobile production and assembly, the extension shall not be extended.

From 2020, this is the third time the excise tax on domestically manufactured and assembled cars has been extended. Previous calculations by the Ministry of Finance showed that the total amount of excise tax extended this year is about 20,000 billion VND.

Decree 32 takes effect from May 21 to the end of this year. After the extension period, the payment of this tax according to current regulations.