According to this document, the Ministry of Finance emphasizes 6 issues related to CIT and VAT payment deferment as provided in Article 3 of the Decree 41 as follows:
(1) Outstanding CIT amount specified in the tax finalization of the tax year 2019:
+ Excluding CIT advance payment of the quarter prescribed in clause 6 of Article 4 in the Decree No.91/2014/ND-CP and Article 17 in the Circular No. 151/2014/TT-BTC;
+ Accounting for no more than 20% of total entire-year tax amount specified in the tax finalization.
(2) If the CIT assessment period in the fiscal year of any enterprise is not identical to the calendar year, the extended tax payment deadline must be aligned with their CIT assessment period.
(3) If any taxpayer makes the additional declaration for the 2019 CIT finalization return under the provisions of the Law on Tax Administration, resulting in any increase in the outstanding CIT amount, and such additional declaration is sent to the tax authority by the extended deadline, the tax amount paid by the extended deadline will be determined according to the principles specified in the aforesaid (1) under which the entire-year tax amount payable according to the tax finalization is calculated by the amount specified in the additional tax declaration.
(4) In case where 2019 CIT finalization review occurs, and post-review conclusions are issued by the extended tax payment deadline, total tax amount of which payment is deferred will be determined according to the principle specified in the aforesaid (1) under which total entire-year tax amount stated in the tax finalization will be calculated on the basis of tax review conclusions.
The extension period is 5 months from the date of expiration of the deadline for submission of CIT finalization returns for the fiscal year 2019.
(5) Taxpayers eligible for tax or land rental payment deferment may defer paying VAT amounts payable, including VAT amounts paid at their head offices and VAT amounts paid at localities where they are doing construction business outside of their province or are running inter-provincial construction projects.
(6) As for contractors eligible for VAT payment deferment, the state treasury will not be allowed to deduct VAT (during the period of deferment) from:
- Total payment for quantities of capital construction works or items funded by state budget capital;
- State budget payments for capital construction activities of projects using ODA funds that are subject to VAT.
Official Dispatch No. 5977/BTC-TCT is issued on May 20, 2020.
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