EXEMPT MANY TAX TYPES FOR BUSINESS HOUSEHOLDS, INDIVIDUALS IN THE THIRD AND FOURTH QUARTERS OF 2021
This highlight content is prescribed by the Government in the Decree No. 92/2021/ND-CP dated October 27, 2021, detailing the implementation of the Resolution No. 406/NQ-UBTVQH15 of the National Assembly Standing Committee, on promulgation of solutions to support enterprises and people affected by the COVID-19 pandemic.
Specifically, business households and individuals operating in all business lines that are affected by the COVID-19 pandemic in 2021 (according to the List made by Chairpersons of People's Committees of provinces and centrally-run cities) shall be exempted from payable personal income tax, value-added tax (VAT), excise tax, royalties and environmental protection tax arising from production and business activities of the months in the third and fourth quarters of 2021.
Noticeably, tax exemption shall not be applied to income and turnover from the provision of software services and products; digital information content services and products related to entertainment, electronic game, digital film, digital image, digital music, and digital advertisement.
Besides, enterprises and organizations engaged in the following sectors that calculate VAT by credit method shall be entitled to a 30% reduction of the VAT rate: Transport service (rail, water, aviation transport, and road transport); accommodation service; food and beverage service; services of travel agencies, etc.
This Decree takes effect from October 19, 2021.
