MoF proposes extension to tax payment deadlines in 2023

By Thuy Linh/ Huyen Trang

08:49 | 12/02/2023 Finance Follow english.haiquanonline.com.vn on

VCN - The Ministry of Finance is gathering opinions on a draft Decree on extending the deadlines for payment of value-added tax, corporate income tax, personal income tax and land rentals in 2023.

	Piloting electronic tax payments for import–export goods via payment service suppliers
	Tax revenue estimated at more than VND165,000 billion in first month
	Deferred tax payments totaled VND nearly 106 trillion
	More than 139,000 businesses and individuals have tax payment deadlines extended

The Ministry of Finance is gathering opinions on a draft Decree on extending the deadlines for payment of value-added tax, corporate income tax, personal income tax and land rentals in 2023

Regarding value-added tax, the Ministry of Finance proposed a six-month extension for payment of value-added tax payable from January to May 2023 and in the first quarter of 2023 and a five-month extension for payment of value-added tax payable in June and the second quarter.

Accordingly, the total deferred value-added tax amount from January to June 2023, in the first two quarters of 2023, is estimated at VND64,000 – 65,000 billion.

The deadline for payment of corporate income tax payable in the first and the second quarter is extended by three months. As a result, the deferred tax amount is estimated at VND42,800 – 42,600 billion.

To remove difficulties for individual business households and individual traders, the Ministry of Finance also proposed to extend the payment of personal income tax payable in 2023 to no later than December 30, 2023.

The payment of 50% of land rental payable in 2023 should be extended by six months from May 31 to November 30, 2023.

Last year, the Government offered tax deferrals and exemptions worth VND233.5 trillion, giving significant support to enterprises to overcome difficulties and recover production and business in the post-pandemic period.

Tax extension: Reducing financial pressure for enterprises

It is estimated that the deferred land and water surface rental is about VND3,500 billion. However, the State revenue in 2023 will not reduce because enterprises, business households or individuals must make payments to the State budget before November 30, 2023.

By Thuy Linh/ Huyen Trang

Tags:

Related News

Corporate bond issuance soars in comparison to 2023

15:42 | 13/07/2024 Finance

VCN - According to the Ministry of Finance, from the beginning of the year to June 21, 2024, 41 enterprises have issued private corporate bonds with a total value of VND 110.2 trillion.

Adding goods item subjected to special consumption tax

09:34 | 07/07/2024 Finance

VCN - According to Ministry of Finance – drafting agency, one of the purposes of amending Law on Special Consumption Tax this time is to perfect regulations on special consumption tax policy to expand the collection base and ensure transparency, ease of understanding, and ease of implementation to contribute to improving the capacity and efficiency of tax management activities. To achieve this goal, the draft Special Consumption Tax Law has many amendments on taxable objects.

Proposal for using over VND18,200 billion of public investment provision for 14 projects

09:41 | 30/06/2024 Finance

VCN - The Government submitted to the National Assembly for permission to use VND 18,220 billion in provisions from the central budget of the Medium-term Public Investment Plan 2021-2025 for 14 public investment projects.

Building a flexible mechanism and "reinforcing" administration for state-owned enterprises

10:17 | 25/06/2024 Finance

VCN - State-owned enterprises (SOEs) always need flexible and responsive operating mechanisms as well as adequate legal corridors to remove bottlenecks and release resources for SOEs in socio-economic development.

Latest News

Perfecting the legal framework to promote upgrading the stock market

08:18 | 26/07/2024 Finance

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

09:20 | 25/07/2024 Finance

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

14:11 | 24/07/2024 Finance

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

14:38 | 23/07/2024 Finance

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

08:20 | 23/07/2024 Finance

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

10:06 | 22/07/2024 Finance

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

19:38 | 21/07/2024 Finance

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

09:47 | 21/07/2024 Finance

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

18:49 | 20/07/2024 Finance

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

09:50 | 20/07/2024 Finance

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

14:30 | 19/07/2024 Finance

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

14:12 | 19/07/2024 Finance

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

14:11 | 19/07/2024 Finance

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...

Your care

Latest Most read