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

Implementing unprecedented fiscal policies to actively support people and businesses

16:25 | 17/04/2024 Finance

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore production and business. According to assessments, in 2024 fiscal policy will continue to be a positive highlight for the economy.

Ministry of Finance conducts general verification of public assets

17:07 | 14/04/2024 Finance

VCN - The Ministry of Finance issued Decision No.798/QĐ-BTC on the plan for implementing Decision No.213/QĐ-TTg of the Prime Minister approving the scheme on general verification of public assets at agencies, organizations, and units as well as infrastructures that are invested and managed by the State.

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

17:09 | 14/04/2024 Regulations

VCN - The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report at the 7th Session, and the 15th National Assembly for consideration and allowing to implementing in the second half of 2024.

Budget revenue collection for the first quarter of 2024 achieved quite well compared to current appropriation

10:49 | 09/04/2024 Finance

VCN - In the first 3 months of 2024, total revenue collection is estimated to reach VND539.5 trillion, equal to 31.7% of current appropriation, an increase of 9.8% over the same period in 2023. According to the Ministry of Finance's assessment, revenue of the first quarter of 2024 is quite good compared to current appropriation, mainly due to the concentration of revenues arising in the fourth quarter of 2023 and the difference according to the tax finalization 2023 following the regime of declaration and payment to the state budget in the first quarter of 2024.

Latest News

Closely monitoring market fluctuations to consider appropriate time to adjust prices

09:30 | 26/04/2024 Finance

VCN - According to a report from the Ministry of Finance, in the second quarter and the remaining months of 2024, price management and administration need to ensure good control of inflation and continue to remove difficulties for production and business.

How does the Land Development Fund work effectively?

09:19 | 26/04/2024 Finance

VCN - Speaking at the Conference to collect opinions on the draft Government Decree regulating the Land Development Fund held by the Ministry of Finance on April 22, Deputy Minister of Finance Bui Van Khang emphasized the necessity of the development of the Government Decree regulating the Land Development Fund.

Vietnam seeks to remove obstacles in upgrade of securities market

13:50 | 25/04/2024 Finance

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.

Price stability from supply increase and transparency in trading in gold market

09:42 | 25/04/2024 Finance

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electronic invoices as well as pay taxes in gold investment activities.

More News

SBV takes more actions to stabilise foreign exchange rates

13:43 | 24/04/2024 Finance

The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.

Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

10:35 | 24/04/2024 Finance

VCN - The revised Draft Law on Value Added Tax (VAT), besides inheriting many provisions from the current Law, also revises and supplements several contents to suit the actual situation, including some notable contents in VAT refund.

Corporate bond maturity in 2024 remains high: MoF

13:51 | 23/04/2024 Finance

The volume of corporate bonds maturing in 2024, though lower than that in 2023, is till at a high level, mostly in industries with payment risks such as real estate and renewable energy, according to a report by the Ministry of Finance (MoF).

Support clearance procedures for imported gold for bidding

09:33 | 23/04/2024 Finance

VCN - The State Bank (SBV) has sent a document to competent ministries and branches requesting coordination in implementing the Prime Minister's direction in gold market management.

The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

09:32 | 23/04/2024 Finance

VCN - According to forecasts, Vietnam's financial sector in 2024 will be more positive, with the exchange rate gradually cooling down from the end of the second quarter of 2024, while interest rates will remain low to promote growth.

Majority of credit institutions forecast profit growth in 2024

15:16 | 22/04/2024 Finance

A total of 86.2% of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Vietnam (SBV).

Central bank plans to auction gold bars on April 22

18:00 | 21/04/2024 Finance

The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.

Old loans must endure higher interest rates temporarily: central bank

15:44 | 19/04/2024 Finance

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).

State-owned enterprises flourished

14:15 | 19/04/2024 Finance

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.

Your care

Latest Most read