Business initiation
The Government has
just issued the Decree No. 52/2021/ND-CP dated April 19, 2021 on the extension
of time limits for payment of value-added tax, corporate income tax, personal
income tax, and land rent fees to support businesses and people suffering from
the COVID-19 pandemic. According to the assessment of businesses, the extension
is necessary for businesses and individuals to have more financial resources to
maintain and restore production, contributing to achieving the economic growth
target of the whole year.
Source from provincial Tax Department, in order to
have the extension, taxpayers will determine and take responsibility, make a
single submission of a request for tax and land rental extension to the tax
authority. Currently, this procedure has been done online on the e-portal of
the tax authority to facilitate people and businesses…
Mr.Tran Thanh Trong, Chairman of provincial
Electromechanical Association said that the Decree No.52’s policies on delaying
and deferring tax payment are very effective for businesses, especially in the
difficult context, due to the Covid-19 pandemic. Implementing tax deferral
helps businesses have more temporary capital sources to serve their production
and business. Meanwhile, Dien Quang Hiep, Chairman of provincial Wood
Processing Association said that businesses have faced many difficulties, due
to the impacts of Covid-19 pandemic... The Government’s Decree No.52 has
not only supported businesses, but also created very good social effects. Mr.
Hiep also said that within one year, this is the third time, the Government has
made the extension of time limits for payment of value-added tax, corporate
income tax, personal income tax, and land rent fees to support enterprises
facing difficulties. Tax extension is very timely, which is seen as a
"lifebuoy" for businesses to overcome difficulties.
Sharing and accompanying
The Decree No.52 is widely applied, not only for
businesses that are heavily affected by the Covid-19 pandemic such as retail,
logistics, and tourism, but also for those that are less affected such as
mining .... This is quite special, demonstrating equality, not distinguishing
between different scopes of business in the market, while expressing the
Government’s determination in sharing and accompanying the business community.
Enterprises are trying their best to overcome difficulties with the state's supportive policies
As of now, the Government has issued 3 policies to
support businesses facing difficulties. As surveyed, extending the deadlines
for the payment of taxes and fees is the most favorite policy of businesses
with easy and convenient access.
Under the direction of provincial People's Committee,
the local functional agencies have supported businesses to access information
channels on import and export, improve production capacity, competitiveness in
international trade, and promote policies to stimulate demand and consume
domestic commodities ... Along with the State’s support, economic experts said
that the business community needs to actively seek opportunities, ideas, new
partners to overcome difficulties and stabilize production, thereby fully
tapping potential from businesses and opportunities from the free trade
agreements that Vietnam has joined.
Mr. Vu Tien Loc, Chairman of the Vietnam Chamber of
Commerce and Industry said that this is the time when it is necessary to have
the help of all businesses and business associations, agencies, each official
in the State apparatus, not only with their efforts, but also with their
intellect to be able to continue bringing Vietnam’s business environment
forward. This is not only the challenge for the Government, but also the
challenge for businesses, associations, and experts to put forward effective
long-term solutions.