GOV’T EXTENDS DEADLINES FOR TAX AND LAND RENT PAYMENTS

The Government issued Decree No. 12/2023/ND-CP dated April 14, 2023 on time extension for payment of value-added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land rent in 2023.

Decree 12 targets to ease difficulties faced by businesses amid a plunge in new orders and shrinking markets.

According to the decree, the deadline for the VAT payable from March to May and in the first quarter should be extended by six months.

The extension period would be five months for businesses expected to pay the VAT in June and the second quarter, along with a delay of four and three months for those with their payment deadline in July and August, respectively.

Meanwhile, the payment of PIT of household businesses and individuals working in priority sectors would be delayed until December 31, 2023, at the latest.

The deadline for payment of CIT in the first and second quarters should be extended by three months.

Individuals, households, and businesses operating in priority sectors are entitled to a six-month deferral of land rent in 2023 from May 31.

Decree 12 takes effect from the date of issuance to December 31, 2023.

Last year, the Government offered tax deferrals and exemption worth of VND233.5 trillion, giving significant support to enterprises to overcome difficulties and recover production and business in the post-pandemic period.

Source: VCCI

Related News

MEMBER CORNER / PROMOTIONS

VIETNAM'S MANUFACTURING STORY HAS CHANGED IN 2026

Vietnam is no longer attracting investment solely because of its competitive costs. Today, global manufacturers are increasingly choosing Vietnam for its expanding industrial ecosystem, resilient supply chains and growing role in high-value sectors such as semiconductors, electronics and advanced manufacturing.

Jul 24, 2026

BANKING / FINANCE / INSURANCE / TAX

VIETNAM NEEDS OVER $200BN FROM STOCK MARKET IN NEXT 5 YEARS

Speaking at the event, Bui Hoang Hai, vice-chairman of the State Securities Commission of Vietnam, said total investment demand in the 2026-30 period is estimated at VND38,000 trillion ($1.4 trillion). The state budget can only provide approximately VND8,500 trillion ($323 billion), or 20 percent, leaving the remaining 80 percent to be sourced from private and international capital.

Jul 23, 2026

VIETNAM ECONOMY INVESTMENT

HUNG YEN BUILDS DIGITAL FOUNDATIONS TO DRIVE LONG-TERM GROWTH

From strengthening data infrastructure to developing AI platforms, Hung Yen province is enhancing governance capacity while laying the groundwork for the growth of its digital economy. Hung Yen, about 50-60km southeast of Hanoi, has maintained steady momentum in implementing its digital transformation agenda, creating a stronger foundation for the province to advance science, technology, and innovation.

Jul 23, 2026

VIETNAM ECONOMY INVESTMENT

CHINESE INVESTMENT WAVE OPENS NEW DOORS

As Chinese companies move beyond factory relocation to ecosystem-driven investment, Vietnam has a rare opportunity to evolve from a low-cost production base into a strategic node in regional value chains. When global companies first diversified supply chains, the focus was largely on relocating manufacturing capacity.

Jul 23, 2026

VIETNAM ECONOMY INVESTMENT

VIỆT NAM STEPS UP EXPORT TO ACHIEVE US$550-BILLION TARGET

Việt Nam is intensifying efforts to sustain export momentum in the second half of 2026 as the country works towards its target of US$550 billion in export revenue for the year, despite continuing uncertainties in global trade. Statistics show that exports reached $266.5 billion in the first six months, meaning the economy needs to generate around $245.5 billion more during the remainder of the year to meet the annual goal.

Jul 23, 2026

VIETNAM ECONOMY INVESTMENT

ASIA POWERS VIETNAM’S SHRIMP BOOM, LEAVING THE WEST BEHIND

In the first half of 2026, Vietnam's shrimp exports surpassed the US$2.3 billion mark, driven largely by booming demand from China and a lobster craze. But behind that growth figure lies a lopsided picture: Asia is carrying the load, while the U.S. and Europe have yet to break out. These days, a container of frozen shrimp leaving a Ho Chi Minh City port is more likely to cross the East Vietnam Sea to Shanghai than the Pacific to Los Angeles.

Jul 23, 2026