Local carmakers allowed to delay excise tax payments

18-Sep-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

The government has issued a decree allowing local carmakers and assemblers to delay payments of excise tax for the March-October period to help them overcome the difficulties caused by the Covid-19 pandemic.

For excise tax from March to June, payments can be postponed for five months. The payment deadline for excise tax in March, April, May and June will be September 20, October 20, November 20 and December 20. The payment deadline for excise tax from July to October will be December 20.

Local carmakers and assemblers’ branches that do not produce or assemble cars are not eligible for the policy.

The Ministry of Finance estimated that the late excise tax payments will cause a monthly loss of VND2.2 trillion to the State budget. However, the State budget for the entire year will not be affected.

The government had earlier issued a decree cutting registration fees by 50 percent for domestically produced or assembled cars until the end of this year.



Category: Economy, Vietnam

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