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Legal updates

Decree No 52/2021/ND-CP date April 19th 2021 of Government and official letter 05/CD-TCT of General Tax Department date April 20th 2021 regarding to extension deadline for VAT, CIT, PIT and renting land in 2021 payment.

In 2021, enterprises, household businesses will continuously extend tax payment deadline due to pandemic.

Compare to 2020, there are much more business fields will be applied tax payment extension in 2021,

In which, manufacturing field will be added publishing; cinematography and production of TV programs, music recording and publishing, extraction of crude oil and natural gas, beverage production, production of coke, refined petroleum products; manufacture of chemicals and chemical products; manufacture of products from precast metals (except machinery and equipment); manufacture of motorcycles; repair, maintenance and installation of machinery and equipment;

Trading, service field will be added: radio and TV broadcasting; computer programming, counseling services and other computer-related services; information service provision; mineral extraction auxiliary services.

Tax will be extended in 2021 included:

  1. VAT: extended 5 months for VAT payable amount of period from March – June 2021 and Q1, Q2/2021, 4 months for VAT payable amount of July and 3 months for VAT payable amount of August
  2. CIT: estimated payable amount of Q1, Q2/2021 will be extended in 3 months
  1. VAT and PIT of household businesses: total tax payable amount of 2021 will be extended to December 30th 2021
  2. Renting land: renting land payable amount at beginning of 2021 will be extended 6 months since May 31st 2021

Note for condition and extension procedure

  1. The application form for all tax period shall be submitted once and together with the monthly or quarterly tax declaration as prescribed by tax administration laws by July 30th 2021
  2. In case a taxpayer is eligible for deferral of amounts payable in multiple areas under management of different tax authorities, the taxpayer’s supervisory tax authority shall transmit information about the application for tax and land rent deferral to relevant tax authorities.
  3. In order to have tax and land rent deferred in accordance with this Decree, the taxpayer shall fully pay the taxes and land rents that were deferred in accordance with the Government’s Decree No. 41/2020/ND-CP and late payment interest (if any) to state budget before July 30, 2021.

Please check attached file for more detail

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