Deferred tax payments totaled VND nearly 106 trillion

VCN - In 2022, the Ministry of Finance has effectively implemented the socio-economic recovery and development program with the deferral of tax payment and tax exemption and a reduction of nearly VND200 trillion.
The case of deleting deferred payment The case of deleting deferred payment
Reduction of deferred tax payment to 0.03% per day Reduction of deferred tax payment to 0.03% per day
Determine offset for VAT refund Determine offset for VAT refund
In 2022, the Ministry of Finance has effectively implemented the socio-economic recovery and development program. Photo: Internet
In 2022, the Ministry of Finance has effectively implemented the socio-economic recovery and development program. Photo: Internet

Of which, the deferral of value-added tax, corporate income tax, personal income tax and land rent payment, according to Decree No. 34/2022/ND-CP is about VND96.3 trillion. The deferred amount of excise tax for domestically manufactured and assembled cars under Decree 32/2022/ND-CP dated May 21, 2022, was estimated at VND9.6 trillion

The total amount of tax exemption and reduction, fees and charges in 2022 was estimated at VND 50.2 trillion, equal to 78.4% of the expected amount (VND 64 trillion), specifically: Reducing the value-added tax rate from 10% to 8% for goods and services currently applying the 10% tax rate, except for some groups of goods and services as prescribed in Decree 15/2022/ND-CP about VND38.9 trillion.

The 50% registration fee reduction for cars, trailers or semi-trailers towed by cars and vehicles similar to domestically manufactured and assembled cars, according to Decree No. 103/2021/ND -CP, was VND 6.6 trillion.

The 50% reduction of the environmental protection tax for jet fuel, according to Resolution No. 13/2021/UBTVQH15 was VND 2.1 trillion. The reduction of import and export tax for many groups under Decree No. 101/2021/ND-CP was VND1.7 trillion.

In addition, the reduction of some fees and charges (from January 1, 2022, to June 30, 2022) to support and remove difficulties for those affected by the Covid-19 pandemic, according to Circular No. 120/2021/TT-BTC, was VND 900 billion.

The Government reduced land and water surface rents for those affected by the Covid-19 pandemic in 2022 VND 3.5 trillion.

Convenience in making online tax payments via eTax Mobile Convenience in making online tax payments via eTax Mobile

VCN - The eTax Mobile application not only benefits taxpayers but is an important solution in the ...

In addition to the support package of the Socio-Economic Development and Recovery Program, in the face of the sudden spike in gasoline and oil prices in the first months of 2022, to control inflation and reduce difficulties for the economy and stabilize people's lives, the Government has reported to the National Assembly Standing Committee to issue resolutions on reducing the green tax rate for gasoline, oil and grease with an expected about VND32,000 billion (Resolution No. 18/2022/UBTVQH15 dated March 23, 2022, about VND 24 trillion and Resolution No. 20/2022/UBTVQH15 dated July 7, 2022, about VND 8 trillion). As a result, the reduced tax amount under these policies in 2022 is estimated at VND3.7 trillion.

In addition to the above support package, in 2022, the state budget ensured social security and job support.

On the policy to support rent for employees according to the Prime Minister's Decision No. 08/2022/QD-TTg: The Ministry of Finance has proposed to the Government to submit to the National Assembly Standing Committee on adding VND 6.6 trillion from additional revenue and savings from central budget spending in 2021 to implement the policy of housing rental support for employees according to Resolution 43/2022/QH15 and Decision No. 08/2022 /QD-TTg of the Prime Minister (Resolution No. 521/NQ-UBTVQH15).

The Ministry of Finance has temporarily provided additional funding to 31 localities of more than VND4.3 trillion.

Regarding the increase of charter capital for the Bank for Agriculture and Rural Development, the Ministry of Finance has submitted to the Government to submit to the National Assembly, the National Assembly Standing Committee to issue a Decision on supplementing charter capital for the Bank for Agriculture and Rural Development VND6,753 billion in the state budget estimate in 2023.

By Thuy Linh/ Huyen Trang

Related News

Does goods imported for investment incentives project subjected to tax exemption?

Does goods imported for investment incentives project subjected to tax exemption?

VCN - That is the problem of Ba Ria - Vung Tau Customs Department related to processing tax exemption documents for imported goods to serve investment incentive projects.
Minister of Finance: continue to advise on promulgating fiscal policies to help economy recover and develop

Minister of Finance: continue to advise on promulgating fiscal policies to help economy recover and develop

VCN - According to Minister of Finance Ho Duc Phoc, although implementing policies to reduce and extend taxes and fees will impact budget revenue, the Ministry has reviewed, evaluated and continued to promulgate a number of fiscal policies to support people and businesses.
Many policies support innovation but it is difficult for businesses to access

Many policies support innovation but it is difficult for businesses to access

VCN - According to Ms. Trinh Thi Huong, Deputy Director of the Department of Enterprise Development, Ministry of Planning and Investment, Vietnam has nearly 900,000 operating businesses and over 90% are small and super small. However, according to the survey, the majority of businesses are not ready for digital transformation and do not know where to find support channels for digital transformation.
Review the tax payment of sales livestream individuals

Review the tax payment of sales livestream individuals

VCN - The General Department of Taxation has just issued an official letter directing local tax departments to drastically manage e-commerce taxes and electronic invoices generated from cash registers.

Latest News

Perfecting the legal framework to promote upgrading the stock market

Perfecting the legal framework to promote upgrading the stock market

VCN - After receiving comments from affected subjects including organizations, individuals, and market members, the State Securities Commission has just completed a draft circular amending 4 circulars regulating: stock trading on the stock exchange system; clearing and settlement of stock exchanges; operations of securities companies and information disclosure on the stock market.
Margin loan continues hit new record

Margin loan continues hit new record

VCN - The need to use leverage in the stock market is still very high, shown by the level of outstanding loans at securities companies continuing to increase sharply in the second quarter of 2024.
Vietnam needs comprehensive regulatory framework to attract green financing

Vietnam needs comprehensive regulatory framework to attract green financing

Vietnam needs a clear regulatory framework and solutions to promote the green finance market and encourage private capital flows into green fields, experts have said.
2025 budget estimation must be practical, accurate and efficient

2025 budget estimation must be practical, accurate and efficient

VCN - Directing the 2025 state budget estimation, Minister of Finance Ho Duc Phoc emphasized that units must ensure that the 2025 budget estimation must be practical, accurate, efficient, and meet the requirements for performing professional and political tasks assigned to central and local agencies.

More News

The corporate bond market will be more vibrant in the second half of the year

The corporate bond market will be more vibrant in the second half of the year

VCN - In the first half of 2024, with bond maturity pressure continuing to increase, corporate bond issuance has shown many positive signs compared to the previous year. According to forecasts, businesses' need to borrow and issue corporate bonds will accelerate in the second half of 2024.
Prioritize resources and promptly supplement capital for policy credit

Prioritize resources and promptly supplement capital for policy credit

VCN- In the near future, to further promote the effectiveness of policy credit, the Ministry of Finance will continue to preside over and coordinate with relevant ministries, branches and the Vietnam Bank for Social Policies (VBSP) to implement many key solutions.
Measures suggested to boost startups’ access to capital

Measures suggested to boost startups’ access to capital

The recent vigorous growth of startups in Vietnam has attracted domestic and foreign investors, but insiders recommended more efforts be made to facilitate startups’ access to funding from investors so that they can live up to potential.
Inflationary pressure seen from monetary policy

Inflationary pressure seen from monetary policy

VCN - The economy went through the first half of the year, inflation is still under control and forecast to reach the target set by the National Assembly and the Government. However, variables from the currency market such as exchange rates, interest rates, credit..., even gold prices, are issues that need to be paid attention.
Banks with the problem of promoting credit growth

Banks with the problem of promoting credit growth

VCN - It is estimated that by the end of June 2024, the economy's credit growth will reach nearly 4.5%. This number is still far from the yearly credit growth target of 14-15%.
Proposal to increase Special Consumption Tax on tobacco products

Proposal to increase Special Consumption Tax on tobacco products

VCN - At the workshop Special Consumption Tax on cigarettes held by Vietnam Tax Consulting Association and the Institute of Financial Strategy and Policy on July 16, experts and businesses clarified the goals and content of amended the special consumption tax policy on tobacco products. According to experts, there cannot be a solution that fully ensures the benefits of both consumers, the state and businesses, but it is necessary to choose the most optimal option to achieve the initially set goals.
Savings of individual customers at banks hit record high

Savings of individual customers at banks hit record high

In spite of low interest rates, figures from the State Bank of Vietnam (SBV) released this week show deposits of individual customers increased by more than VNĐ39.7 trillion in April, to reach more than VNĐ6.7 quadrillion.
Managing fiscal policy has achieved many positive and comprehensive results

Managing fiscal policy has achieved many positive and comprehensive results

VCN - On July 15, the Ministry of Finance held an online conference to summarize state budget financial work in the first 6 months of the year, implementing tasks in the last 6 months of 2024. Minister of Finance Ho Duc Phoc attended and directed the conference. Also attending the Conference were Deputy Ministers of Finance, leaders of units under the Ministry of Finance.
Determine tools, policy for inflation control

Determine tools, policy for inflation control

VCN - According to economic expert Associate Professor, PhD. Ngo Tri Long (photo), former Director of the Price Market Research Institute (Ministry of Finance), inflation is an issue that needs special attention, especially related to the management of monetary policy, interest rates, increasing prices of goods and services...
Read More

Your care

Latest Most read
Perfecting the legal framework to promote upgrading the stock market

Perfecting the legal framework to promote upgrading the stock market

State Securities Commission has completed a draft circular amending 4 circulars regulating: stock trading on the system; clearing and settlement; operations of securities companies and information disclosure.
Margin loan continues hit new record

Margin loan continues hit new record

The need to use leverage in the stock market is still very high, shown by the level of outstanding loans at securities companies continuing to increase sharply in the second quarter of 2024.
Vietnam needs comprehensive regulatory framework to attract green financing

Vietnam needs comprehensive regulatory framework to attract green financing

Vietnam needs a clear regulatory framework and solutions to promote the green finance market and encourage private capital flows into green fields, experts have said.
2025 budget estimation must be practical, accurate and efficient

2025 budget estimation must be practical, accurate and efficient

VCN - Directing the 2025 state budget estimation, Minister of Finance Ho Duc Phoc emphasized that units must ensure that the 2025 budget estimation must be practical, accurate, efficient, and meet the requirements for performing professional and political
The corporate bond market will be more vibrant in the second half of the year

The corporate bond market will be more vibrant in the second half of the year

VCN - In the first half of 2024, with bond maturity pressure continuing to increase, corporate bond issuance has shown many positive signs compared to the previous year. According to forecasts, businesses' need to borrow and issue corporate bonds will acc
Mobile Version