Deferred tax payments totaled VND nearly 106 trillion

VCN - In 2022, the Ministry of Finance has effectively implemented the socio-economic recovery and development program with the deferral of tax payment and tax exemption and a reduction of nearly VND200 trillion.
The case of deleting deferred payment The case of deleting deferred payment
Reduction of deferred tax payment to 0.03% per day Reduction of deferred tax payment to 0.03% per day
Determine offset for VAT refund Determine offset for VAT refund
In 2022, the Ministry of Finance has effectively implemented the socio-economic recovery and development program. Photo: Internet
In 2022, the Ministry of Finance has effectively implemented the socio-economic recovery and development program. Photo: Internet

Of which, the deferral of value-added tax, corporate income tax, personal income tax and land rent payment, according to Decree No. 34/2022/ND-CP is about VND96.3 trillion. The deferred amount of excise tax for domestically manufactured and assembled cars under Decree 32/2022/ND-CP dated May 21, 2022, was estimated at VND9.6 trillion

The total amount of tax exemption and reduction, fees and charges in 2022 was estimated at VND 50.2 trillion, equal to 78.4% of the expected amount (VND 64 trillion), specifically: Reducing the value-added tax rate from 10% to 8% for goods and services currently applying the 10% tax rate, except for some groups of goods and services as prescribed in Decree 15/2022/ND-CP about VND38.9 trillion.

The 50% registration fee reduction for cars, trailers or semi-trailers towed by cars and vehicles similar to domestically manufactured and assembled cars, according to Decree No. 103/2021/ND -CP, was VND 6.6 trillion.

The 50% reduction of the environmental protection tax for jet fuel, according to Resolution No. 13/2021/UBTVQH15 was VND 2.1 trillion. The reduction of import and export tax for many groups under Decree No. 101/2021/ND-CP was VND1.7 trillion.

In addition, the reduction of some fees and charges (from January 1, 2022, to June 30, 2022) to support and remove difficulties for those affected by the Covid-19 pandemic, according to Circular No. 120/2021/TT-BTC, was VND 900 billion.

The Government reduced land and water surface rents for those affected by the Covid-19 pandemic in 2022 VND 3.5 trillion.

Convenience in making online tax payments via eTax Mobile Convenience in making online tax payments via eTax Mobile

VCN - The eTax Mobile application not only benefits taxpayers but is an important solution in the ...

In addition to the support package of the Socio-Economic Development and Recovery Program, in the face of the sudden spike in gasoline and oil prices in the first months of 2022, to control inflation and reduce difficulties for the economy and stabilize people's lives, the Government has reported to the National Assembly Standing Committee to issue resolutions on reducing the green tax rate for gasoline, oil and grease with an expected about VND32,000 billion (Resolution No. 18/2022/UBTVQH15 dated March 23, 2022, about VND 24 trillion and Resolution No. 20/2022/UBTVQH15 dated July 7, 2022, about VND 8 trillion). As a result, the reduced tax amount under these policies in 2022 is estimated at VND3.7 trillion.

In addition to the above support package, in 2022, the state budget ensured social security and job support.

On the policy to support rent for employees according to the Prime Minister's Decision No. 08/2022/QD-TTg: The Ministry of Finance has proposed to the Government to submit to the National Assembly Standing Committee on adding VND 6.6 trillion from additional revenue and savings from central budget spending in 2021 to implement the policy of housing rental support for employees according to Resolution 43/2022/QH15 and Decision No. 08/2022 /QD-TTg of the Prime Minister (Resolution No. 521/NQ-UBTVQH15).

The Ministry of Finance has temporarily provided additional funding to 31 localities of more than VND4.3 trillion.

Regarding the increase of charter capital for the Bank for Agriculture and Rural Development, the Ministry of Finance has submitted to the Government to submit to the National Assembly, the National Assembly Standing Committee to issue a Decision on supplementing charter capital for the Bank for Agriculture and Rural Development VND6,753 billion in the state budget estimate in 2023.

By Thuy Linh/ Huyen Trang

Related News

Ensure policies to attract investment when implementing global minimum tax

Ensure policies to attract investment when implementing global minimum tax

VCN - On the afternoon of March 30, in Hanoi, the Ministry of Finance held a regular press conference in the first quarter of 2023, chaired by Deputy Minister of Finance Nguyen Duc Chi. Many issues related to the tax field were discussed and answered at the conference.
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development

Revising Law on Corporate Income Tax: Promoting resources for socio-economic development

VCN - After a long time of implementation and many changes in reality, it is time to amend the Law on Corporate Income Tax (CIT) to remove difficulties for production and business activities, and open up and promote resources for economic and social development.
Implementation of import-export policies to be streamlined: experts

Implementation of import-export policies to be streamlined: experts

In the post-pandemic recovery period, domestic businesses continue to face difficulties in implementing policies related to import-export activities, requiring prompt solutions, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Quang Phong said on March 2.
Breakthrough policies needed to develop electronics industry

Breakthrough policies needed to develop electronics industry

The electronics industry has seen good progress in recent years, accounting for about 18% of the total industrial production value and more than 30% of the total export revenue of the country.

Latest News

Corporate bonds worth 1.1 billion USD issued in March

Corporate bonds worth 1.1 billion USD issued in March

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Tax revenue is estimated at VND 426,922 billion in the first quarter

Tax revenue is estimated at VND 426,922 billion in the first quarter

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion, equaling 30.9% of the estimate, up 5.3% over the same period in 2022.
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.
Central bank starts huge credit package for social housing projects

Central bank starts huge credit package for social housing projects

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.

More News

In Q1, State revenue estimated to rise by 1.3%

In Q1, State revenue estimated to rise by 1.3%

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.
Consider raising the level of penalties to ensure fairness and transparency in the stock market

Consider raising the level of penalties to ensure fairness and transparency in the stock market

VCN - Mr Pham Hong Son, Vice Chairman of the State Securities Commission, discussed solutions to improve the capacity, improve fairness and transparency of the stock market.
Central bank cuts policy interest rates to spur growth

Central bank cuts policy interest rates to spur growth

The State Bank of Vietnam (SBV) announced it would reduce several policy interest rates from April 3, the second cut within one month, the regulator announced on its website March 31 night.
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks

The State Bank of Vietnam (SBV) has suggested the Government to issue a revised decree on foreign investors buying shares from Vietnamese credit institutions.
Solutions to attract FDI when implementing the global minimum CIT

Solutions to attract FDI when implementing the global minimum CIT

VCN - On March 29, the Vietnam International Arbitration Center (VIAC) and the Center for International Integration, the Ho Chi Minh City Institute for Development Studies, jointly held a seminar on Global Minimum Corporate Tax – outlook and challenges in attracting foreign investment (FDI) in Ho Chi Minh City.
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba

VCN – The promulgation of Vietnam's Decree on Vietnam's special preferential import tariff to implement the Vietnam-Cuba Trade Agreement for 2022-2027 creates a stable and open legal framework, facilitates import and export activities, brings expected great benefits to the business community of the two sides, promote two-way trade turnover and develop Vietnam-Cuba trade relations.
Being many "hot" issues at the general meeting of shareholders of banks

Being many "hot" issues at the general meeting of shareholders of banks

VCN - International Commercial Joint Stock Bank (VIB) will be the first bank to hold a general meeting of shareholders this week, and then April will be the "peak" for banks to deploy.
Bringing the policies on reducing land rent and water surface rent into life

Bringing the policies on reducing land rent and water surface rent into life

VCN - The tax sector is drastically implementing dissemination and support to make the policy of reducing land rent and water surface rent in 2022 fully effective.
The more delayed the investment disbursement is, the more accumulated the capital expenditure will be

The more delayed the investment disbursement is, the more accumulated the capital expenditure will be

VCN - According to Dr Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM), amid the downtrend of many of Vietnam's economic growth drivers, public investment is still expected to be the main driver for economic growth recovery in 2023.
Read More

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read
Corporate bonds worth 1.1 billion USD issued in March

Corporate bonds worth 1.1 billion USD issued in March

The corporate bond market is showing signs of recovery with a notable increase in both the number of issuers and the value of issued bonds in March.
Tax revenue is estimated at VND 426,922 billion in the first quarter

Tax revenue is estimated at VND 426,922 billion in the first quarter

VCN - In the first three months of the year, state budget revenue managed by the tax agency was estimated at VND426,922 billion, equaling 31.1% of the ordinance estimate and 104.6% over the same period. Domestic revenue is estimated at VND411,418 billion,
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline

VCN - A representative of the Ministry of Finance said that the Ministry had organized a specialized inspection team on insurance distribution through banks for four insurance companies. The team is finalizing inspection conclusions.
Central bank starts huge credit package for social housing projects

Central bank starts huge credit package for social housing projects

Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.
In Q1, State revenue estimated to rise by 1.3%

In Q1, State revenue estimated to rise by 1.3%

VCN - Total state budget expenditure in the first quarter of 2023 is estimated at VND363.4 trillion, equaling 17.5% of the yearly estimate and rising by 7.2% year-on-year.
Mobile Version