The Government has just issued Decree 52 on extending the deadline for payment of value added tax, corporate income tax, personal income tax and land rental in 2021.
Enterprises and organizations that declare value added tax on a monthly basis will be extended for 5 months the arising tax amount of the tax period from March to August 2021. Corporate income tax will be extended for 3 months with the deadline for temporary tax payment of the first and second quarters.
Business households and individuals in the fields of agriculture, fisheries, textiles, supporting industries, construction, transportation, warehousing, tourism … tax extension until December 31, 2021.
The issued Decree 52 has created more resources for businesses and household businesses to overcome the current difficult period. (Artwork: Investment Newspaper)
With land rentals, businesses, business households and individuals in the priority sectors will be entitled to an extension of the payable land rental for the first period of 2021. The extension period is 6 months.
“The COVID-19 epidemic has entered Vietnam from 2020 and has far-reaching effects on all areas of life as well as affecting production and business activities of enterprises.
Currently, this disease is still complicated. It is expected that in 2021, the disease will continue to affect business activities of enterprises. Many businesses, especially small-sized businesses, are greatly affected by their impact on their financial resources, when there is no revenue or business method. Therefore, the State has issued a Decree on extension and reduction and is considered to remove many difficulties for businesses.
On the basis of the policy issued in 2020, the Ministry of Finance assessed the implementation situation, difficulties, and results achieved in order to continue to have a policy lasting in 2021. April 19 , The Government has issued Decree 52 to continue the extension and reduction of taxes as well as land rent in 2021. The extension period is December 31, 2021.
Through the implementation evaluation, this decree has added a number of subjects directly affected by the COVID-19 epidemic, such as radio, television, the fields of machinery and equipment repair, drainage … Other subjects have also been added in this decree, “said Ms. Hoang Thi Ha Giang, Deputy Director of Policy Department, General Department of Taxation.
Thanks to the extension of tax payment and reduction of land rent, many businesses have gradually recovered. (Artwork: Dan Tri)
This policy was immediately responded by the business community, because Decree 52 was issued, creating more resources for businesses and business households to overcome the current difficult period.
By the end of the first quarter of this year, more than 40,000 enterprises left the market. This shows that the strength of the business community has greatly weakened. Therefore, any supporting policies issued are expected, but not only on paper, but must be implemented effectively in practice to energize businesses.
Corporate income tax and value-added tax extension are the taxes with large revenues, affecting the cash flow of the business. Thanks to the extension of tax payment and reduction of land rent, many businesses have gradually recovered, creating jobs for workers, bringing revenue to the state budget. Policies have been given, but the most important thing is to quickly and effectively implement what businesses expect now.
According to VTV