VietlawOnline

blue-check In the third and fourth quarters of 2021: CIT, VAT shall be reduced 30%; PIT shall be exempt

Resolution No. 406/NQ-UBTVQH15 dated October 19th, 2021 of the Standing Committee of National Assembly on promulgation of certain measures for supporting enterprises and residents to ease impact of Covid-19 pandemic
Posted: 21/10/2021 9:30:16 AM | Latest updated: 7/3/2022 12:06:03 PM (GMT+7) | LuatVietnam: 5316 | Vietlaw: 532
VietlawOnline

The policies on tax reduction, tax exemption in 2021 applicable to enterprises under this Resolution include:

- A reduction of 30% in the corporate income tax (CIT) payable in 2021 will be given to any taxpayer that has revenue of not greater than VND 200 billion in 2021 and a decrease in revenue in 2021 compared to the revenue in 2019.

- A reduction of 30% in the value added tax (VAT) arisen from November 1, 2021 to the end of December 31, 2021 shall be applied to the following goods and services: Transport services, accommodation services, food and drink services, services of travel agencies, publishing products and services (excluding publishing software); cinematographic services, production of television programme, works of art and services for composing, arts, and entertainment, etc. except goods and services provided in online form.

- Exemption of late payment interest incurred in 2020 and 2021 on debts of taxes, land use levies, and land rents shall be granted to enterprises that incur losses in 2020

- With regard to business individuals, they shall be exempt from personal income tax (PIT), VAT and other payable taxes incurred in production and business of the months in the third and fourth quarters of 2021 if they engaged in production and business in districts affected by COVID-19 pandemic. However, the tax exemption does not apply to incomes and revenue from provision of software products and services; digital content products and services related to entertainment, video games, digital movies, digital photos, digital music; digital advertising.

This Resolution comes into force as of the date of signing.

Cần lưu ý là các loại thu nhập dưới đây không được miễn thuế TNCN trong hai quý 3 và 4/2021:
- Cung cấp sản phẩm và dịch vụ phần mềm;
- Cung cấp sản phẩm và dịch vụ nội dung thông tin số về giải trí, trò chơi điện tử,
- Cung cấp phim số, ảnh số, nhạc số và quảng cáo số
Admin_05

Related documents

Penalty document

Unknown

Information

Effective Date 19-Oct-2021
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 532

Files attachment

enflag pdficon NQ406-19102021UBTVQH[EN].pdf

Timeline

No data

Tax policies

blue-check Policies on deferral of taxes in 2022
blue-check Tax reform strategy until 2030
blue-check Tax incentives given to projects of expansion investment
blue-check Guidelines for determination of imported goods ineligible for 2% reduction in VAT
red-check Detailed regulations on VAT reduction policy in 2022
blue-check 2022 tax exemption, reduction policies
blue-check Summarization of tax policies supporting enterprises affected by Covid-19 in 2021
blue-check Regarding policy on tax deferral applicable to importing/exporting enterprises amid Covid-19
blue-check Conditions and procedures for entitlement to a 30 % reduction in CIT, VAT due to Covid-19
blue-check In the third and fourth quarters of 2021: CIT, VAT shall be reduced 30%; PIT shall be exempt
blue-check Deposit interests generated outside preferential areas shall not be entitled to EIT incentives
blue-check Guidelines for additional submission of CIT arisen before satisfaction of criteria and standards on socialization
blue-check Regarding promulgation of tax exemption and reduction policy in 2020
blue-check Regarding exemption from fines, late payment interests in force majeure
blue-check Application for deferral of tax payment must be submitted before July 31st, 2021
blue-check Policy on deferral of tax payment in 2021
blue-check The Government is considering allowing tax payment deferral in 2021 due to effects of Covid-19
blue-check Introduction of new points relating to tax declaration from 2021
blue-check It is not allowable to defer payment of withholding tax paid on behalf of foreign contractors due to Covid-19
blue-check Procedures and application for tax debt charge-off