A businesses announces a temporary closure due to COVID-19 (Photo: kinhtedothi.vn)Hanoi (VNS/VNA) - The Government’s policy of a five-month extensionfor tax payment deadlines did not attract a large number of firms.
Until the end of July 30 – the deadline for submission of applications for thetax payment delay – more than 179,240 taxpayers submitted documents, accordingto the Ministry of Finance’s Tax Policy Department. This included more than125,150 enterprises and 54,000 business households, with the tax worth 53.6trillion VND (2.3 billion USD).
In comparison, the finance ministry estimated that about 700,000 enterpriseswere eligible for the tax payment postponement with a sum worth up to 180trillion VND.
This meant that more than 70 percent of businesses eligible for the policy didnot apply.
According to Nguyen Thi Thu Ha from the General Department of Taxation, therewere a number of reasons for lower-than-expected applications for the taxpayment postponement. One of them was that a number of enterprises and businesshouseholds did not generate taxable income.
Ha said many others had taxes to pay but the totals were low, so they did notapply for the postponement.
Many did not apply for the postponement to avoid heavy financial pressure atthe end of the year, she said.
The policy was not compulsory and applying for postponement was up totaxpayers, Ha said.
Nguyen Cong Hoan, Director of Flamingo Redtours, said tourism was a hard-hitsector and his company did not report taxable income in the period so did notapply for the postponement.
The biggest problem to enterprises at the moment was how to cope with theCOVID-19 pandemic when the virus reoccurred in Vietnam.
According to Nguyen Quoc Ky, chairman of Vietravel, the reoccurrence ofCOVID-19 might mean firms are unable to recover.
Dinh Trong Thinh from the Academy of Finance said that efforts to contain thevirus were important for businesses to recover. Thinh added that domesticconsumption should also be promoted./.
Until the end of July 30 – the deadline for submission of applications for thetax payment delay – more than 179,240 taxpayers submitted documents, accordingto the Ministry of Finance’s Tax Policy Department. This included more than125,150 enterprises and 54,000 business households, with the tax worth 53.6trillion VND (2.3 billion USD).
In comparison, the finance ministry estimated that about 700,000 enterpriseswere eligible for the tax payment postponement with a sum worth up to 180trillion VND.
This meant that more than 70 percent of businesses eligible for the policy didnot apply.
According to Nguyen Thi Thu Ha from the General Department of Taxation, therewere a number of reasons for lower-than-expected applications for the taxpayment postponement. One of them was that a number of enterprises and businesshouseholds did not generate taxable income.
Ha said many others had taxes to pay but the totals were low, so they did notapply for the postponement.
Many did not apply for the postponement to avoid heavy financial pressure atthe end of the year, she said.
The policy was not compulsory and applying for postponement was up totaxpayers, Ha said.
Nguyen Cong Hoan, Director of Flamingo Redtours, said tourism was a hard-hitsector and his company did not report taxable income in the period so did notapply for the postponement.
The biggest problem to enterprises at the moment was how to cope with theCOVID-19 pandemic when the virus reoccurred in Vietnam.
According to Nguyen Quoc Ky, chairman of Vietravel, the reoccurrence ofCOVID-19 might mean firms are unable to recover.
Dinh Trong Thinh from the Academy of Finance said that efforts to contain thevirus were important for businesses to recover. Thinh added that domesticconsumption should also be promoted./.
VNA
