EXTEND TIME LIMITS FOR PAYMENT OF TAX IN 2024

ON EXTENSION OF TIME LIMITS FOR PAYMENT OF VAT, CIT, PIT AND LAND RENTAL IN 2024

On June 17, 2024, the Government issued Decree 64/2024/ND-CP extending the deadline for paying value added tax, corporate income tax, personal income tax and land rent in 2024.

1. For VAT (except VAT at the import stage)

To extend payment time limits for payable VAT amounts (including also VAT amounts distributed to provincial-level localities other than those where taxpayers’ head offices are located and VAT amounts to be paid upon each time the tax liability arises) of the tax period from May thru September of 2024 (in case of making monthly VAT declarations) and the tax periods of the second and third quarters of 2024 (in case of making quarterly VAT declarations).

The extension duration is 5 months for VAT amounts arising in May and June of 2024 and in the second quarter of 2024; 4 months for VAT amounts arising in July 2024; 3 months for VAT amounts arising in August 2024; or 2 months for VAT amounts arising in September 2024 and in the third quarter of 2024. The extension period shall be counted from the deadline for VAT payment specified in the law on tax administration.

- The deadline for VAT payment for the tax period of May 2024 is November 20, 2024.

- The deadline for VAT payment for the tax period of June, July, August and September 2024 are December 20, 2024.

- The deadline for VAT payment for the tax period of the second and third quarter of 2024 are December 31, 2024.

2. For corporate income tax

To extend payment time limits for of CIT amounts to be temporarily paid for tax periods of the second quarter of 2024 for the enterprises and organizations. The extension duration is 3 months from the deadline for CIT payment specified in the law on tax administration.

3. For VAT and PIT of business households and business individuals

To extend payment time limits for payable VAT and PIT amounts arising in 2024 of business households and business individuals. Business households and business individuals shall pay tax amounts eligible for extension of payment time limits under this Clause no later than December 30, 2024.

4. For land rental

To extend time limits for land rental payment for 50% of payable land rental amounts of the second period in 2024 for the enterprises, organizations, households and individuals who leased land directly by the State under decisions of or contracts signed with competent state agencies in the form of land lease with annual payment of land rental. The extension duration is 02 months, from October 31, 2024.

Here is attaching of Decree No. 64/2024/ND-CP Decree 64/2024/ND-CP.pdf