Corporate income tax and personal income tax in 2021 for specific economic fields are also included in the extension. The ministry said the total amount of the five-month extension is estimated to be about 115 trillion VND (5 billion USD).
Experts said this is a timely decision to help businesses achieve the dual task of boosting production and fighting COVID-19. Nguyen Thi Cuc, President of the Tax Advisory Association, said: “The government allows businesses to delay tax payment amid difficulties. Once they recover, they can increase their revenues, boost production, and contribute to the national budget.”