The Ministry of Finance is seeking public feedback on a draft decree proposing an extension of the payment deadlines for value-added tax (VAT), corporate income tax (CIT), personal income tax (PIT), and land rent for 2025. The total estimated tax amount subject to extension is nearly VND 102 trillion (approximately USD 4 billion).

According to the draft, the Ministry of Finance suggests extending the deadlines for VAT, CIT, PIT, and land rent payments, similar to the provisions in Decree No. 64/2024/NĐ-CP.

For VAT, the ministry proposes a six-month extension for VAT payments due in February and March 2025, as well as for the first quarter of 2025. Additionally, a five-month extension is suggested for VAT payments due in April, May, and June 2025, as well as for the second quarter of 2025.

Under this proposal, the total VAT amount eligible for the extension is estimated to be around VND 62 trillion (approximately USD 2.4 billion). However, this does not impact the state budget revenue for 2025, as businesses will still be required to make full payments by December 31, 2025.

The ministry also proposes a five-month extension for the provisional CIT payments for the first and second quarters of the 2025 tax period. This extension is expected to cover an estimated VND 36 trillion (approximately USD 1.4 billion) in CIT.

To support small business owners and individual entrepreneurs, the Ministry of Finance proposes extending the payment deadlines for VAT and PIT owed for 2025. These payments must be settled no later than December 31, 2025. The total estimated amount for this extension is around VND 350 billion (approximately USD 13.8 million).

For land rent, the ministry suggests a six-month extension on 50% of the land rent due for 2025 for businesses, organizations, households, and individual entrepreneurs who qualify under the regulations. The estimated amount of land rent subject to extension is VND 3.6 trillion (approximately USD 142 million). However, similar to other extensions, this measure will not reduce the state budget revenue for 2025.

According to the Ministry of Finance, the total estimated tax amount eligible for extension under this draft decree is nearly VND 102 trillion (approximately USD 4 billion).

Hanh Nguyen