Lynas secures Vietnam metal processing deal with LS Eco Energy
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Finance ministry proposes tax deferral for businesses
The Ministry of Finance proposed deferring nearly VND102 trillion (over US$3.99 billion) worth of value-added tax, corporate income tax, personal income tax and land rents by six months.
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| The total deferred amount is expected to support local enterprises to operate properly in 2025 |
Accordingly, value-added tax payments will be deferred for six months for amounts due in February, March, and the first quarter of 2025.
Payments of value-added tax for April, May, June, and the second quarter of 2025 will be extended by five months.
The total deferred VAT payments are estimated at VND62 trillion, with the final payment deadline set for December 31, 2025.
Regarding corporate income tax, the ministry suggested a five-month extension for provisional tax payments for the first and second quarters of 2025, with the total deferred amount estimated at VND36 trillion.
Business households and individual entrepreneurs will also benefit from an extended deadline for VAT and personal income tax payments for 2025, with the latest due date set for December 31, 2025. The total deferred tax amounts for this group are estimated at VND350 billion.
The ministry also suggests a six-month extension for 50 percent of the land rents payable in 2025 for enterprises, organizations, households and individual business owners who lease land directly from the State under annual payment agreements. The total deferred land rent is projected at VND3.6 trillion.
The policy of extension is neither a tax exemption nor reduction. As a result, the State budget for 2025 will not be negatively impacted as businesses and households will still be required to pay all deferred taxes and land rent by December 31./.
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