MoF proposes extension to tax payment deadlines 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.