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Timely tax exemption, reduction and extension policies "support" businesses

Việt NamViệt Nam28/08/2024


Tax and fee reduction policies have provided timely support to businesses and people.  Photo: TRAN PHUOC
Tax and fee reduction policies have provided timely support to businesses and people. Photo: TRAN PHUOC

In order to promptly support people and businesses to access support policies, the Vinh Long tax sector has focused on drastically implementing propaganda solutions. Specifically, the tax sector coordinates with newspapers and radio stations to produce news articles and reports; at the same time, propaganda is carried out on the propaganda department system and the Vinh Long Electronic Information Portal. At the same time, propaganda and support are promoted through electronic methods such as email, Zalo, tax sector website, direct support via phone, and online training for beneficiaries to ensure that taxpayers quickly access the scope, subjects, time limits, order, and procedures for implementing the Government's support policies.

According to statistics, from 2020 to mid-July 2024, the amount of tax that enterprises are exempted or reduced is estimated at over VND 1,634 billion; the amount of tax extended is over VND 1,304 billion.

At the end of June 2024, the National Assembly and the Government continued to issue policies to reduce and extend tax payments. To increase the effectiveness of these policies, the tax sector has quickly implemented a series of solutions to help businesses and taxpayers benefit in a timely manner. Specifically, after Decree No. 64/2024/ND-CP on extending value-added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land rent in 2024; Decree No. 72/2024/ND-CP on VAT reduction, Circular No. 43/2024/TT-BTC regulating the collection rates of some fees, charges, etc. were issued, the Provincial Tax Department has sent notifications to taxpayers through channels such as the website, Zalo Tax Department, email... to help people and businesses clearly understand the conditions, regulations, and time of benefit. In addition to coordinating with local newspapers and radio stations to produce reports and news articles, the Tax Department also organizes conferences and training courses to disseminate information on tax reduction and extension to taxpayers.

Accordingly, Decree No. 64/2024/ND-CP stipulates the extension of VAT, CIT, PIT and land rent in 2024. The deadline for VAT payment for the tax period of May 2024 is no later than November 20, 2024. The deadline for VAT payment for the tax period of June, July and August is no later than December 20, 2024. The deadline for VAT payment for the tax period of the second and third quarters of 2024 is no later than December 31, 2024. The extension is 3 months for the provisional CIT payment of the second quarter of the CIT period of 2024 of enterprises and organizations eligible for the extension. The deadline for VAT and PIT payment of business households and individuals is no later than December 30, 2024. The extension period is 2 months from October 31, 2024 for 50% of the land rent payable in 2024 (the amount payable in the second period of 2024) of enterprises, organizations, households and individuals eligible for the extension who are being directly leased land by the State according to the decision or contract of a competent state agency in the form of annual land rent payment.

Continue to implement VAT reduction from July 1 to December 31, 2024 according to the provisions of Decree No. 72/2024/ND-CP for groups of goods and services currently applying a VAT rate of 10%, except for some groups of goods and services specifically regulated in Appendix I, II, III issued with the Decree.

According to the tax sector's estimate, the total amount of tax reduction in the last 6 months of the year in the whole province is about 353,650 billion VND. The continued issuance of exemption, reduction and extension policies has received the consensus, support and appreciation from the business community and small and medium enterprises, contributing to stabilizing production and business activities, maintaining revenue for the state budget. The effectiveness of the tax payment extension policy has helped businesses to rotate capital, serving production and business. The effectiveness of tax and fee reduction policies has timely supported businesses and people to have more financial resources to focus on production activities.

THUY LINH



Source: https://baovinhlong.vn/kinh-te/202408/chinh-sach-mien-giam-gia-han-thue-kip-thoi-tiep-suc-doanh-nghiep-a6c7250/

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