Deadline for paying excise tax for automobiles producing or assembling domestically to be extended

Domestic automobile manufacturers or assemblers will be extended the deadline of tax payment for excise tax. Source: Internet

Domestic automobile manufacturers or assemblers will be extended the deadline of tax payment for excise tax incurred in the period from March to October 2020 for automobiles manufactured or assembled domestically. The extension will apply from the end of the excise tax payment deadline in accordance with the law on tax management.

The extension is applicable for both additional tax declaration of the extended tax period and for enterprises with branches or affiliated units engaged in automobiles production or assembly activities should declare excise tax separately with tax authorities managing them.

Notably, taxpayers eligible for the extension must submit a request document for extension of the excise tax payment deadline (via online method; send the paper directly to the tax authority or by post) to the tax authority managing directly once for all periods, along with point of time of filing the excise tax declaration in accordance with the law on tax management.

If the requested document for the deadline extension of the special excise tax payment is not submitted at the same time as the submission of the excise tax declaration, the deadline for the submission of the request for deadline extension is August 30, 2020. Taxpayers who submit a request for deadline extension after August 30, 2020, are not eligible for the extension.

The Ministry of Finance estimated the deadline extension of the excise tax payment will make the State revenue of those months decrease by about VND 2,200 billion per month. However, the State revenue in 2020 will not decrease because the enterprise must pay it into the State budget before December 20, 2020.

It is expected that the decree will take effect from the date of its signing. After the extended period under this decree, the payment of excise tax on domestically manufactured or assembled automobiles will be made in accordance with current regulations.