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blue-check 2022 tax exemption, reduction policies

Resolution No. 43/2022/QH15 dated January 11th, 2022 of the National Assembly on fiscal and monetary policies for supporting socio-economic recovery and development program
Posted: 18/1/2022 10:51:05 AM | Latest updated: 27/8/2022 9:08:50 AM (GMT+7) | LuatVietnam: 5379 | Vietlaw: 545
VietlawOnline

The National Assembly has just passed some policies on tax exemption, tax reduction applicable in 2022 to help enterprise’ recovery after Covid-19, including:

- Reduce 2% of VAT in 2022 for goods and services currently subject to 10% VAT (it is only required to pay 8% in 2022.

- Allow donations and sponsors made by enterprises and organizations for COVID-19 epidemic control operation in Vietnam to be included in deductible expenses when calculating taxable corporate income for the tax period of 2022.

However, the policy on 2% reduction in VAT in 2022 does not apply to the following goods and services: telecommunication, financial activities, banking activities, securities, insurance, trading of real estate, metal, precast metal products, mining products (excluding coal mining), coke mining, refined oil, chemical products, goods and services subject to excise tax;

With regard to employees, the National Assembly also passed some policies such as: (i) Support for rent of workers working in industrial parks, export-processing zones, and key economic zones; (ii) provision of loans in order to settle jobs; (iii) provision of loans for purchase or lease purchase of social houses, constructing new, renovating, or repair houses.

This Resolution comes into force from January 11th, 2022 to December 31st, 2023; fiscal policies under Points 1.2 and 1.3 Clause 1 Article 3 of this Resolution apply to fiscal years of 2022 and 2023.

Do Khoản 2 Điều 8 của Nghị quyết yêu cầu "Chính phủ hướng dẫn, tổ chức thực hiện Nghị quyết này" nên các chính sách miễn giảm thuế nêu trên còn phải chờ Nghị định của Chính phủ hướng dẫn hoặc quy định chi tiết. Các doanh nghiệp tạm thời không nên áp dụng mức thuế GTGT 8% trước khi nhận được Nghị định của Chính phủ về vấn đề này
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Effective Date 11-Jan-2022
ExpiredDate 1-Jan-2024
Published Vietlaw's Newsletter No. 545

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enflag pdficon NQ43-11012022QH15[EN].pdf

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Tax policies

blue-check Policies on deferral of taxes in 2022
blue-check Tax reform strategy until 2030
blue-check Tax incentives given to projects of expansion investment
blue-check Guidelines for determination of imported goods ineligible for 2% reduction in VAT
red-check Detailed regulations on VAT reduction policy in 2022
blue-check 2022 tax exemption, reduction policies
blue-check Summarization of tax policies supporting enterprises affected by Covid-19 in 2021
blue-check Regarding policy on tax deferral applicable to importing/exporting enterprises amid Covid-19
blue-check Conditions and procedures for entitlement to a 30 % reduction in CIT, VAT due to Covid-19
blue-check In the third and fourth quarters of 2021: CIT, VAT shall be reduced 30%; PIT shall be exempt
blue-check Deposit interests generated outside preferential areas shall not be entitled to EIT incentives
blue-check Guidelines for additional submission of CIT arisen before satisfaction of criteria and standards on socialization
blue-check Regarding promulgation of tax exemption and reduction policy in 2020
blue-check Regarding exemption from fines, late payment interests in force majeure
blue-check Application for deferral of tax payment must be submitted before July 31st, 2021
blue-check Policy on deferral of tax payment in 2021
blue-check The Government is considering allowing tax payment deferral in 2021 due to effects of Covid-19
blue-check Introduction of new points relating to tax declaration from 2021
blue-check It is not allowable to defer payment of withholding tax paid on behalf of foreign contractors due to Covid-19
blue-check Procedures and application for tax debt charge-off