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DECREE 52/2021/ND-CP: A "lifebuoy" for businesses

Update: 27-04-2021 | 11:08:42

Although the Covid-19 pandemic across the country has been controlled well, many enterprises have not got rid of their difficulties yet, due to the negative effects from the pandemic. The Government’s Decree 52/2021 / ND-CP (Decree 52) is considered a valuable "medicine" for businesses to recover, stabilize and develop.

Businesses getting excited

The Government has just issued the Decree No. 52/2021 / ND-CP dated April 19, 2021 on the extension of time limits for payment of value-added tax, corporate income tax, personal income tax, and land rent fees to support businesses and people suffering from the COVID-19 pandemic. According to the assessment of businesses, the extension is necessary for businesses and individuals to have more financial resources to maintain and restore production, contributing to achieving the economic growth target of the whole year.

Woodwork companies are trying their best to overcome difficulties along with the Government's support policies. In picture: Production activities at a company in Tan Uyen town

Source from provincial Tax Department, in order to have the extension, taxpayers will determine and take responsibility, make a single submission of a request for tax and land rental extension to the tax authority. Currently, this procedure has been done online on the e-portal of the tax authority to facilitate people and businesses…

Tran Thanh Trong, Chairman of provincial Electromechanical Association said that the Decree No.52’s policies on delaying and deferring tax payment are very effective for businesses, especially in the difficult context, due to the Covid-19 pandemic. Implementing tax deferral helps businesses have more temporary capital sources to serve their production and business. Meanwhile, Dien Quang Hiep, Chairman of provincial Wood Processing Association said that businesses have faced many difficulties, due to the impacts of  Covid-19 pandemic... The Government’s Decree No.52 has not only supported businesses, but also created very good social effects. Mr. Hiep also said that within one year, this is the third time, the Government has made the extension of time limits for payment of value-added tax, corporate income tax, personal income tax, and land rent fees to support enterprises facing difficulties. Tax extension is very timely, which is seen as  a "lifebuoy" for businesses to overcome difficulties.

Sharing and accompanying

The Decree No.52 is widely applied, not only for businesses that are heavily affected by the Covid-19 pandemic such as retail, logistics, and tourism, but also for those that are less affected such as mining .... This is quite special, demonstrating equality, not distinguishing between different scopes of business in the market, while expressing the Government’s determination in sharing and accompanying the business community.

As of now, the Government has issued 3 policies to support businesses facing difficulties. As surveyed, extending the deadlines for the payment of taxes and fees is the most favorite policy of businesses with easy and convenient access.

Under the direction of provincial People's Committee, the local functional agencies have supported businesses to access information channels on import and export, improve production capacity, competitiveness in international trade, and promote policies to stimulate demand and consume domestic commodities ... Along with the State’s support, economic experts said that the business community needs to actively seek opportunities, ideas, new partners to overcome difficulties and stabilize production, thereby fully tapping potential from businesses and opportunities from the free trade agreements that Vietnam has joined.

Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry said that this is the time when it is necessary to have the help of all businesses and business associations, agencies, each official in the State apparatus, not only with their efforts, but also with their intellect to be able to continue bringing Vietnam’s business environment forward. This is not only the challenge for the Government, but also the challenge for businesses, associations, and experts to put forward effective long-term solutions.

Reported by Tieu My-Translated by K.T

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