On 8 April 2020, Prime Minister of Vietnam approved Decree No 41/2020/ND-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic. The main measures of the Decree are as follows:
- Extension of corporate tax payment deadline by 5 months for 2019, and quarterly corporate tax payments for the first two quarters of 2020;
- The 5-month extension would be given to value-added tax (VAT) of the assessment periods of March, April, May, June, the first quarter and the second quarter. As a result, the payment of VAT of March assessment period would be extended to September 20 while of second-quarter assessment period to December 20;
- For household and individual businesses, the deadlines for paying VAT and individual income tax was extended to December 31;
- Payment of land use fees would also be extended 5 months from May 31;
- Taxpayers must submit a proposal to the tax management agencies before July 30 to be given the extension.
