Tax payment and land rent extension: Timely support for production and business

(BGO) – In late April, the Government issued Decree No. 52/2021/ND-CP on extending the deadlines for paying value added tax (VAT), corporate income tax (CIT), personal income tax and land rent in 2021. After more than 3 months of implementation in Bac Giang province, this policy is considered as a "remedy" to help businesses affected by the Covid-19 pandemic overcome difficulties and stabilize production and business.

Extending payment of taxes worth hundreds of billions of VND

Ha Phong Export Garment Joint Stock Company based in Doan Bai commune (Hiep Hoa district) is one of the enterprises enjoying the tax extension policy under Decree No. 52. The company has about 7,000 employees. There were times only 30 percent of them went to work because the others were in quarantine and locked down areas.

Ha Phong Export Garment Joint Stock Company (Hiep Hoa) is entitled to tax payment extension to restore production and business.

In order to help the enterprise realize the "dual goals" of both fighting the epidemic and restoring production and business, at the company’s proposal, the provincial Tax Department has reviewed and extended the CIT payment for the company with an amount nearly 5.5 billion VND (241,700 USD). Of which, the figure for the first quarter was more than 2.7 billion VND and the second quarter nearly 2.74 billion VND.

With this tax, the extension period is 3 months, and the firm is not fined for late payment during the extension period. It must complete the payment of the extended tax before December 31 this year.

Not only CIT reduction, many businesses had VAT and land rent reduced. Bac Ha Co., Ltd., in Song Khe commune (Bac Giang city) has been allowed to extend VAT and land rent payment deadlines. A leader of the company said that the extension of tax payment deadlines has helped businesses have more motivation to overcome difficulties, stabilize production and business, maintain jobs and pay wages to employees.

Up to now, 941 enterprises, mainly small and micro ones, have enjoyed tax payment extension, with a total amount of nearly 279 billion VND (12.27 million USD), including over 203 billion VND worth of VAT, 65.2 billion VND worth of CIT and more than 9.9 billion VND worth of land rent.

Facilitating tax payment extension

The extension of tax payment for businesses under the Government’s Decree No. 52 is a timely financial support solution, helping taxpayers ease pressure during difficult times, thereby calculating and flexibly allocating resources to maintain production and business activities.

The provincial Department of Taxation and regional tax sub-departments have assigned tax officials in charge of the regions to actively contact taxpayers to grasp production and business situation, and the extent of the pandemic impact. They promptly disseminated the contents of Decree 52 via Zalo and email to help businesses get full information, thus accessing and benefiting from the tax payment extension policy, while providing guidance on the tax extension procedures.

In addition to direct guidance, the tax sector has also updated relevant regulations and provided guidance on tax payment extension on its website as well as on the media.

After being supported, hundreds of businesses have submitted applications to extend the payment of taxes and land rents via the electronic system. The applications are handled quite simply. Enterprises just need to send an application to the tax agency that directly manages them. When receiving the enterprises’ dossiers, the provincial Tax Department and the regional tax sub-departments shall assign officers to deal with them immediately according to regulations.

According to the provincial Tax Department, the extension of tax payment deadline will slow down the state budget collection, but this is a necessary delay to support businesses to overcome difficulties. As the extension period ends, the tax sector will urge enterprises to fully pay taxes in accordance with regulations.

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