The Government has issued the Resolution No. 13/NQ-CP dated May 10, 2012 on a number of measures to support troubled enterprises and boost the local market.
The measures include the extension of value-added and corporate tax payment, reduction of land lease fees, exemption of business rates for fish-catching and salt production households in 2012.
- Six-month extension of value-added tax
The Government decided to offer six-month extension of value-added tax payment of April, May and June of this year for the following enterprises:
1- SMEs (excluding enterprises operating in the field of lottery, securities, finance, banking, insurance, and production of commodities and services subjected to special consumption tax.
2- Labor-intensive enterprises engaging in production and processing of agriculture, forestry and aquaculture products; garments; footwear, electronic equipment; socio-economic infrastructure works.
- Nine-month extension of corporate tax payment
The Government also offered nine-month extension of corporate tax payment backwards since 2011 (excluding corporate tax items extended under the Decision 04/2012/QD-TTg dated on January 19, 2012.
Besides, households engaging in aquaculture and salt production are exempted from paying business rates in 2012.
- 50% reduction of land lease fees in 2012
The land lease fees of 2012 will be slashed by 50% under the Prime Minister’s Decision No. 2093/QD-TTg dated on November 23, 2011 on reduction of land lease fees in 2011 and 2012.
For investors encountering financial difficulties, the Government decided to grant the maximum of twelve-month extension of land use fees. Provincial People’s Committees are assigned to consider and decide the specific extension deadline for each project.