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Postponement of CIT and VAT payments

25 March 2013

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Approved Changes

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Vietnam

Resolution No. 02/NQ-CP,issued on 7 January 2013, contained the following key administrative concessions: -   Postponement of Corporate Income Tax (CIT) payment: A 6 month extension for the payment of CIT was allowed for payment due in the 1st quarter of 2013. Payments due in the 2nd and 3rd quarter were granted a 3-month extension, respectively. Eligible enterprises include: -   small and medium enterprises (i.e. less than 200 full-time employees/workers and an annual revenue of VND 20 billion or less). However, this does not include the CIT payable on income generated from financial activities, banking activities, insurance, securities, lotteries,...