Vietnam: Deferral of tax payments, including VAT (COVID-19)

Part of the post-coronavirus pandemic recovery package

Part of the post-coronavirus pandemic recovery package

The government issued Decree No. 34/2022/-ND-CP as part of the post-coronavirus (COVID-19) pandemic recovery package, which defers certain tax payments for 2022:

  • Corporate income tax payments for the first two quarters of 2022 are deferred for three months for qualifying taxpayers (including branches or affiliated business units of qualifying taxpayers, except where such reporting entities carry out business activities that do not qualify for a tax deferral)
  • Value added tax (VAT) payments, excluding import VAT, are deferred for qualifying taxpayers (including branches or affiliated business units of qualifying taxpayers, except where such reporting entities carry out business activities that do not qualify for a tax deferral), as follows:
    • Six months for the reporting periods between March and May 2022 for monthly remitters, and for the reporting period January to March 2022 for quarterly remitters
    • Five months for the June 2022 reporting period for monthly remitters, and for the reporting period April to June 2022 for quarterly remitters
    • Four months for the July 2022 reporting period for monthly remitters
    • Three months for the August 2022 reporting period for monthly remitters
  • 50% of land rental payments due between 31 May 2022 and 30 November 2022 are deferred for six months for qualifying taxpayers
  • Individual (personal) income tax and VAT payments by business households and individuals conducting business are deferred to 31 December 2022

Taxpayers must self-assess if they qualify for tax or land rental payment deferral and submit a written request directly to the tax authority. Deferral requests may be filed once for all applicable taxes and land rental fees, jointly with the monthly or quarterly tax declarations, or separately by 30 September 2022.

Read a June 2022 report [PDF 73 KB] prepared by the KPMG member firm in Vietnam

 

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