Support Increased for Business Households and Individuals Affected by Covid-19

Tax authorities are now receiving and resolving all notices of temporary suspension filed by business households, individual groups and individuals regardless of the time of delivery, said the General Department of Taxation.

According to regulations on business suspension, registered business households, individual groups and individuals must send notices to this effect to business registration agencies and tax agencies at least 15 days before their temporary suspension. Unregistered business individuals (only registering with tax authorities) only need to do this one working day before their temporary suspension.

In order to provide timely assistance to households and business individuals which had to close business operations due to the Covid-19 epidemic and carry out social distancing measures as per the Prime Minister’s Directive 16/CT-TTg, the Ministry of Finance promptly issued Official Letter 5310/BTC-TCT dated April 29, 2020, to direct tax authorities at all levels to strengthen support to business households, individual groups and individuals.

Accordingly, the Ministry of Finance required tax authorities to receive and resolve all notices to this effect filed by business households, individual groups and individuals regardless of delivery time.

Regarding Government Decree 41/2020/ND-CP dated April 8, 2020, the tax sector received over 75,025 requests for extended deadline of tax and land rent payment of VND24,054 billion as of May 4, 2020. Of the sum, VND23,983 billion was extended for enterprises and VND71 billion was extended for individuals. Tax authorities will receive taxpayers’ requests for payment extension through July 30, 2020.

Le Hien (Vietnam Business Forum)