Extension for Tax and Land lease payment in 2024

The Government has just issued Decree No. 64/2024/ND-CP dated June 17, 2024, extending the deadline for paying value-added tax, corporate income, personal income tax, and land rent in 2024. The extension applies to businesses and individuals doing business in the industries and professions specified in Article 3.

The government has issued Decree No. 64/2024/NĐ-CP on June 17, 2024, extending the deadlines for VAT, corporate income tax, personal income tax, and land lease payments in 2024. This extension applies to businesses and individual business households operating in sectors specified in Article 3 of the decree.

Value-Added Tax (VAT):

For businesses filing monthly: The payment deadlines for the tax periods from May to September 2024 are extended.

Extension details:

• 5-month extension for VAT due in May and June.

• 4-month extension for VAT due in July.

• 3-month extension for VAT due in August.

• 2-month extension for VAT due in September.

For businesses filing quarterly: The payment deadlines for Q2 and Q3 of 2024 are extended.

Extension details:

• 5-month extension for VAT due in Q2.

• 2-month extension for VAT due in Q3.

Corporate Income Tax (CIT):

A 3-month extension for the provisional tax payments of Q2 2024.

PIT and VAT on business individuals and households:

An extension until December 30, 2024, for all VAT and PIT obligations arising in 2024.

Land Lease Payments:

A 2-month extension for 50% of the land lease payments due for 2024 (second installment), effective from October 31, 2024.

Important Deadline:

Applications for extensions of tax and land lease payments must be submitted by September 30, 2024.

This decree is effective from the date of issuance until December 31, 2024.

For more detailed information, contact W&A!