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Thứ 5, Ngày 11/11/2021, 18:00
Guidance on implementing a number of solutions to support enterprises and people affected by the Covid-19 pandemic
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11/11/2021

PORTAL - The Tax Department of Binh Duong province guides the main contents of Decree no. 92/2021/ND-CP detailing the implementation of Resolution no. 406/NQ-UBTVQH15 of the National Assembly Standing Committee on  promulgation of certain solutions for supporting enterprises and people affected by the COVID-19 pandemic.

I. Corporate income tax reduction (according to Article 1, Decree no. 92/2021/ND-CP).

1. Objects of corporate income tax reduction.

Applicable to taxpayers who are organizations engaged in production and trading of goods and services with taxable income (collectively referred to as enterprises), including:

- Enterprises established under Vietnamese law.

- Organization established under the Law on Cooperatives.

- Non-business units established under the provisions of Vietnamese law.

- Other organizations established in accordance with Vietnamese law involved in production and business activities with income.

2. Rate of Corporate income tax reduction.

 A reduction of 30% in the payable corporate income tax of the corporate income tax period 2021 will be given to enterprises mentioned at point 1.1 that satisfy two criteria simultaneously:

a. Having a revenue in the tax period 2021 not exceeding 200 billion VND

b. Revenue in the tax period 2021 decreased compared to the revenue in the tax period 2019. Criterion b does not apply to the case of enterprises that are newly established, engaged in consolidation, merger, partial division, or full division in the tax periods 2020 and 2021

2.1. The corporate income tax period is determined according to the calendar year. In case an enterprise applies a fiscal year other than the calendar year, the corporate income tax period is determined according to the applicable fiscal year specified in the Law on Corporate income tax and its guiding documents.

2.2. Revenue in the corporate income tax period includes all sales, processing, service provision and business activities in the form of business cooperation contracts, including price subsidies, surcharges and extras that enterprises are entitled to in accordance with the provisions of the Law on Corporate income tax and its guiding documents, excluding deductions from revenue, revenue from financial activities and other income.

In case an enterprise is newly established, an enterprise transforms its form of enterprise, transforms its form of ownership, consolidates, merges, divides, separates, dissolves or goes bankrupt in the corporate income tax period has not operated for 12 months, its revenue of that tax period is determined by the total actual revenue in the tax period divided (:) by the number of months the enterprise actually operates in production and business in the tax period multiplied (x) by 12 months. In case an enterprise is newly established, an enterprise transforms its form of enterprise, transforms its form of ownership, consolidates, merges, divides, separates, dissolves or goes bankrupt within a month, its operation period shall be counted in full months.

In case the first tax period for a newly established enterprise is 2020 or the last tax year for an enterprise that transforms its form of enterprise, transforms its form of ownership, consolidates, merges, divides, separates, dissolves or goes bankrupt is 2022 with a shorter period of 03 months, then it is added to the tax period 2021 to form an corporate income tax period, the determination of revenue and the reduced tax amount is only applicable for 12 months of the tax period 2021.

3. Determination of corporate income tax to be reduced:

The reduced corporate income tax of the corporate income tax period 2021 is calculated on the entire income of the enterprise, including the incomes specified in Clause 3, Article 18 of the Law on Corporate income tax.

The reduced corporate income tax according to the provisions of Decree no. 92/2021/ND-CP is calculated on the payable corporate income tax of the tax period 2021, after deducting the corporate income tax that the enterprise is enjoying in accordance with the provisions of the Law on Corporate Income Tax and its guiding documents.

4. Declaration of tax reduction:

4.1. Based on the revenue in the tax period 2019 and the expected revenue in the tax period 2021, enterprises themselves determine the tax to be reduced when temporarily paying corporate income tax on a quarterly basis.

Enterprises determine the officially reduced corporate income tax to declare according to the corporate income tax finalization declaration form promulgated together with the Ministry of Finance's Circular no. 80/2021/TT-BTC dated September 29, 2021 and on the Appendix of corporate income tax to be reduced in Appendix II promulgated together with Decree no. 92/2021/ND-CP.

4.2. When making the corporate income tax finalization in 2021, the handling of underpayment or overpayment of the temporarily paid quarterly tax compared to the payable tax according to the annual finalization shall comply with the law on tax administration.

4.3. Through inspection, examination and audit, tax authority and competent authority discover that an enterprise is not eligible for tax reduction, according to the provisions of Decree no. 92/2021/ND-CP or the payable tax of the tax period 2021 is larger than the declared corporate tax, then the enterprise must pay the insufficient tax after it has been reduced according to the provisions of Decree no. 92/2021/ND-CP (if any), is sanctioned for tax administrative violations calculated on the outstanding tax and charged late payment interest according to the provisions of the law on tax administration and the law on handling of administrative violations.

In case the enterprise additionally declares the corporate income tax declaration dossier of the tax period 2021 or according to the decision, conclusion and notification of inspection, examination and audit results of the tax authority and competent authority to increase the amount of corporate income tax payable, then the additional tax will be reduced by 30% according to the provisions of Decree no. 92/2021/ND-CP if the enterprise still meets the conditions for tax reduction under Clause 2, Article 1 of Decree no. 92/2021/ND-CP.

In case the enterprise additionally declares the enterprise income tax declaration dossier of the tax period 2021 or according to the decision, conclusion and notification of inspection, examination and audit results of the tax authority and competent authority to reduce the corporate income tax payable, then it will adjust and reduce the corporate income tax to be reduced according to the provisions of Decree no. 92/2021/ND-CP and handle the overpaid tax (if any) in accordance with the provisions of the law on tax administration.

II. Value-added tax reduction (according to Article 3, Decree no. 92/2021/ND-CP)

1. Objects of value-added tax reduction

Value-added tax reduction from November 01, 2021, to the end of December 31, 2021, shall be applied to the following goods and services: 

a. Transport services (railway transport, water transport, aviation transport, other road transport); accommodation services; food and drink services; services of travel agencies, tour operators and services supporting or related to promotion and organization of tours;

b. Publishing products and services; cinematographic services, production of television program, sound recording and music publishing; works of art and services for composing, arts, and entertainment; services of libraries, archives, museums and other cultural activities; sports, recreation and entertainment services.

c. Details of goods and services eligible for tax reduction specified at Points a and b of this Clause shall comply with Appendix 1 of the List of goods and services eligible for value-added tax reduction promulgated together with Decree no. 92/2021/ND-CP, in which the goods and services specified at Point b of this Clause do not include publishing software and production and business goods and services in the online form.

d. In case the goods and services specified in Clause 1, Section II above are not subject to value-added tax under the Law on Value-Added Tax, the provisions of the Law on Value-Added Tax shall apply.

2. Rate of Value-added tax reduction

- Enterprises and organizations that calculate value-added tax by the deduction method are entitled to a 30% reduction in the value-added tax rate for goods and services specified in Clause 1, Section II above.

- Enterprises and organizations that calculate value-added tax according to the percentage method on revenue are entitled to a 30% reduction of the percentage rate for calculating value-added tax on goods and services specified in Clause 1, Section II above.

3. Implementation order and procedures: Enterprises and organizations eligible for VAT reduction shall write invoices as follows:

- In case of value-added tax calculation by the deduction method: When making a value-added invoice for the provision of goods and services  subject to value-added tax reduction, at the value-added tax rate line write "the prescribed tax rate (5% or 10%) x 70%"; value added tax amount; the total amount to be paid by the buyer.

Based on value-added invoices, enterprises and production and business organizations of goods and services declare output value-added tax, and enterprises, production and business organizations that buy goods and services declare and deduct input value-added tax according to the reduced tax written on the value-added invoice.

- In case of calculating value added tax according to the percentage method on revenue: When making a sales invoice for the provision of goods and services subject to value-added tax reduction, in the column "Amount" write the full amount of goods and services before the reduction, in the line "Sum goods and services amount" write the number that has reduced 30% of the rate on revenue, at the same time note: "reduced... (amount) equivalent to 30% of the rate to calculate value-added tax according to Resolution no. 406/NQ-UBTVQH15".

4. In case an enterprise or organization trades in many goods and services, when making invoices, the enterprise or organization shall issue a separate invoice for goods and services, which is entitled to value-added tax reduction.

5. In case an enterprise or organization has issued an invoice and declared at the tax rate or percentage to calculate the value-added tax that has not yet been reduced, the seller and the buyer must make a minutes or have a written agreement specifying the error, at the same time, the seller issues a correcting invoice and delivers the correcting invoice to the buyer. Based on the adjusted invoice, the seller declares adjustment of output tax, and the buyer declares adjustment of input tax (if any).

6. In case an enterprise or organization trading goods and services eligible for value-added tax reduction has issued invoice printed in the form of tickets with pre-printed denominations have not been used up and have a need to continue using them, enterprises and organizations make stamps according to the price that has been reduced by 30% of the value-added tax rate or the price that has been reduced by 30% of the percentage rate next to the pre-printed price criterion for continued use.

7. Enterprises and organizations eligible for value-added tax reduction according to Article 3 of Decree no. 92/2021/ND-CP shall declare goods and services eligible for value-added tax reduction according to the Appendix to reduce value-added tax in Appendix II promulgated together with Decree no. 92/2021/ND-CP together with the value-added tax declaration.

III. Exemption of late payment interest (according to Article 4, Decree no. 92/2021/ND-CP).

1. Objects exempted from late payment interest.

Exemption of late payment interest incurred in 2020 and 2021 on tax debts, land use levy and land rent shall be granted to taxpayers that are enterprises and organizations (including affiliated entities, places of business) incur losses in the tax period 2020.

2. Determination of exempted late payment interest

The tax authority directly manages, the tax authority manages the tax, collects land use levy and land rent, based on tax management data, determines the late payment interest incurred in 2020, in 2021 of taxpayers eligible for late payment interest exemption to issue a decision on exemption of late payment interest.

3. Order, procedures and dossiers for handling late payment interest exemption

3.1. Taxpayers make a written request for exemption from late payment interest, using form no. 01/MTCN, Appendix II issued together with Decree no. 92/2021/ND-CP, and send it to the tax authority directly manages, the tax authority manages the tax, collects land use levy and land rent by electronic means or by postal service.

3.2. Within 15 working days from the date of receipt of the taxpayer's written request for exemption from late payment interest.

+ In case the taxpayer is exempted from late payment interest: the tax authority shall issue a Decision on exemption of late payment interest, form no. 03/MTCN, Appendix II issued together with Decree no. 92/2021/ND-CP. The decision on exemption from late payment interest shall be sent to the taxpayer electronically and publicly posted on the website of the tax authority.

+ In case the taxpayer is not exempted from late payment interest: The tax authority issues a Notice of not accepting late payment interest exemption, form no. 02/MTCN, Appendix II issued together with Decree no. 92/2021/ND-CP.

3.3. In case the taxpayer has been exempted from late payment interest but the competent authority discovers that the taxpayer is not eligible for exemption from late payment interest according to the provisions of Decree no. 92/2021/ND-CP, the tax authority shall issue a Decision to revoke the decision on exemption from late payment interest.

4. In case taxpayers who are exempted from late payment interest according to the provisions of Decree no. 92/2021/ND-CP, additionally declare tax declaration dossiers or the tax authority, competent authority through inspection, examination and audit discover, or the tax authority, competent authority have decisions or notices to increase the tax, land use levy, land rent payable, taxpayers are not required to pay late payment interest incurred in 2020, in 2021 for the additional payable tax, land use levy and land rent if they satisfy the condition for loss incurred in the tax period 2020.

5. In case the taxpayer has paid late payment interest before the effective date of Resolution no. 406/NQ-UBTVQH15 (October 19, 2021), it will not be re-handled.

In addition to the above contents, in Article 2 of Decree no. 92/2021/ND-CP guiding regulations on tax exemption for business households and individuals.

The detailed content of Decree no. 92/2021/ND-CP is posted in the column "General guidance documents on new tax policy", website of Binh Duong Department of Taxation https://binhduong.gdt.gov.vn and the website of the General Department of Taxation http://www.gdt.gov.vn .

​Translated by Nguyen Trang 

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