Tax payment extension policy – “Support” to help businesses recover

After 2 years of implementing the policy of extending and delaying payment of tax and land rent, the Government has recently continued to issue Decree 34, extending the deadline for payment of value-added tax, corporate income tax, and income tax. individuals and land rent in 2022. The extension period is from 3 to 6 months depending on the type of tax. This policy aims to create more “support” for the business and production recovery process.

“The government has spared difficulties for itself, giving advantages to businesses. Businesses benefit and certainly in those 6 months they will not have to borrow from banks and appropriate that money to do business,” said Ms. Nguyen Thi. Cuc – Chairman of the Vietnam Tax Consultants Association said.

The representative of the General Department of Taxation said that the subject tax payment extension inherited from the renewal policy of 2021. That is, businesses, business households affected by the epidemic and businesses only need to follow a very simple procedure.

Ms. Pham Thi Minh Hien – Deputy Director of Tax Policy Department, General Department of Taxation said: “Taxpayers only need to submit an application for extension to the tax authority directly and no later than September 30, 2022. The General Department of Taxation will also send a telegram to direct tax authorities at all levels to propagate and guide taxpayers so that they can understand the policy and benefit from it.

It is expected that over 140,000 businesses and business households will benefit from the tax extension policy in 2022, with an estimated amount of over VND 123,000 billion.

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