According to the draft, the payment of value added tax (VAT), corporate income tax (CIT), personal income tax (PIT) and land and water surface leasing fees in 2022 will be extended. Regarding VAT, it proposes a six-month extension for VAT from March to May 2022 and the first quarter of 2022; five-month extension for VAT in June 2022 and Q2 2022; four-month extension for VAT in July 2022; and 3-month extension for VAT in August 2022. For CIT, MoF proposes extension of the tax payment that enterprises have to pay temporarily for the second and third quarters of 2022. In addition, MoF has proposed a six-month extension for the payment of fees for leasing land and water surface in 2022, starting from May 31, 2022. The tax payment extension is seen as an interest rate-free loan provided by the State, which helps enterprises and individuals have more financial resources.
