Under the newly-approved decree, tax agencies will consider the extension if tax payers belong to one of the following cases:

Firstly, suffering from material damages caused by natural disasters, fires and unexpected accidents which directly affect business and production;

Accordingly, material damages to machines, equipment, means, materials, commodities, factories, working places, cash, and valuable papers shall be taken into account.

In the first case, tax payment shall be extended for the maximum of two years.

Secondly, halting operations due to the relocation of production and business establishments as required by State agencies.

Thirdly, having yet gotten refund of capital construction as stipulated in the State budget estimate;

Fourthly, being unable to pay tax on time in case materials are imported to serve the production and storage period which lasts over 275 days and other special difficult cases.  

For the last three cases, time of tax payment cancellation is less than one year since the day of tax payment deadline.

The Decree will take effect on September 15, 2013./.

By Kim Loan