On 14 April 2023, Vietnam’s Ministry of Finance (MoF) has issued Decree No. 12/2023/ND-CP, which provides for tax payment deadline extensions for qualifying taxpayers in various sectors, including agriculture, manufacturing, and SMEs. The extensions apply to VAT payments for different periods, with a range of 3 to 6 months extension. Additionally, corporate tax payments for the first and second quarters of 2023 are extended by 3 months, while VAT and personal income tax for business households and individuals have an extended payment deadline until 30 December2023. The deadline for 50% of land rent fees due in 2023 has also been extended by 6 months. Taxpayers need to submit an extension application with their relevant returns or before 30 September 2023, to take advantage of the extensions.
Related Posts
Vietnam proposes investment support fund to counter global minimum tax impact on foreign firms
Vietnam's Ministry of Planning and Investment has responded to the OECD's Global Minimum Tax initiative by proposing a draft decree to establish an Investment Support Fund. This initiative comes after the passage of top-up tax legislation in late
Read MoreVietnam: NA passes resolution to implement Pillar 2 global minimum tax
On 29 November 2023, the National Assembly (NA) passed a resolution to implement the Pillar 2 global minimum tax rules. According to this resolution, multinational enterprises with a total consolidated revenue exceeding €750 million (around $800
Read MoreVietnam takes step towards global minimum tax adoption
On 10 November 2023, the Vietnam Government declared that the National Assembly is currently deliberating a proposed resolution aimed at enacting the regulations related to Global Minimum Tax. The Global Minimum Tax, also known as Pillar Two, is an
Read MoreVietnam: BEPS MLI enters into force
On 1 September 2023, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Vietnam. Regarding the tax treaties covered by the Multilateral Instrument (MLI)
Read MoreVietnam publishes notice regarding entry into force for BEPS MLI
On 28 July 2023, Vietnam gazetted the “Notice No. 12/2023/TB-LPQT of 21 June 2023” regarding entry into force for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). The MLI will be entered into force on 1
Read MoreVietnam plans to implement OECD Global Minimum Tax Rules from 2024
On 26 July 2023, the government of Vietnam has declared that it will implement the global minimum tax rules under Pillar Two in Vietnam in 2024. The rules will include the introduction of a qualified domestic minimum top-up tax and the income
Read More