According to information from the General Department of Taxation on the afternoon of September 16, the General Department of Taxation sent an official dispatch to 26 local tax departments to guide tax exemptions and extensions for people and businesses after storms and floods, including: Quang Ninh, Hai Phong, Thai Binh, Nam Dinh, Hoa Binh, Lao Cai, Yen Bai , Son La, Lai Chau, Dien Bien, Ha Giang, Cao Bang, Bac Kan, Thai Nguyen, Tuyen Quang, Phu Tho, Vinh Phuc, Lang Son, Bac Giang, Bac Ninh, Hai Duong, Hanoi, Hung Yen, Ha Nam, Ninh Binh and Thanh Hoa.
Accordingly, businesses affected by natural disasters will have their tax payments extended by 1-2 years (depending on the impact of the storm). Businesses are allowed to deduct input VAT on goods used for production and business.
With corporate income tax, enterprises are allowed to include in expenses when determining taxable income the loss caused by natural disasters. To be deductible, enterprises need to have documents such as: Minutes of inventory of the value of lost assets and goods; insurance compensation records (if any), records specifying responsibilities, organizations and individuals who must compensate (if any); records determining funding for overcoming the consequences of natural disasters; and welfare payments for employees affected by natural disasters. Enterprises affected by natural disasters are also entitled to a maximum reduction of 30% of special consumption tax in the year of the damage.
Regarding resource tax, enterprises are exempted or have their tax reduced for the amount of lost resources. If they have paid the tax, it will be refunded or deducted from the tax payable in the following period. Enterprises are also entitled to a 50% reduction in non- agricultural land use tax if they suffer damage to land and houses.
For individuals and business households affected by natural disasters, personal income tax, special consumption tax and resource tax will be reduced. The personal income tax rate will be reduced corresponding to the level of damage, but not exceeding the amount of tax payable; special consumption tax will be reduced corresponding to the damage, but not exceeding 30% of the amount of tax payable.
Tax payment extension is considered based on the taxpayer's request in cases of material damage, directly affecting production and business due to force majeure, the tax payment extension period shall not exceed 2 years from the tax payment deadline. Taxpayers who are unable to submit tax declarations on time due to natural disasters, catastrophes, epidemics, fires, or unexpected accidents shall be granted an extension to submit tax declarations by the head of the tax authority directly managing them.
Source: https://baohaiduong.vn/mien-giam-thue-cho-nguoi-dan-doanh-nghiep-bi-thiet-hai-boi-bao-so-3-393237.html
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