The Prime Minister issued Decision No 54/2011/QD-TTg on the extension of corporate income tax payments in 2011 for enterprises with large numbers of employees and operating in specified sectors.
The Prime Minister issued Decision No 54/2011/QD-TTg on the extension of corporate income tax payments in 2011 for enterprises with large numbers of employees and operating in specified sectors.
Under the decision, enterprises with an average of 300 employees during 2011, not counting workers with contracts of three months or less, as well as co-operatives lawfully established and operating which have revenue from the production or processing of agricultural, wood, seafood, garment, footwear, or electronic products, or from development, construction, and installation of infrastructure works, have the right to delay payment of 2011 corporate income taxes for one year from the due date as governed by the Law on Tax Administration.
Decision No 54 also specifies how to compute the amount of tax subject to the extension and the tax payment extension period for each quarter during 2011.
The decision takes effect on November 30, 2011.
(Source: VNS)
