Domestic Car Manufacturers May Get Tax Extension

The Ministry of Finance has recently put forward a proposal to extend the time limit for paying excise tax on domestically produced or assembled cars.

If the proposal is adopted, the tax payment deadline applicable to amounts arising in the tax period of June, July, August and September this year for automobiles manufactured or assembled in Viet Nam shall be extended to November 20, 2024. 

The proposal is expected to help 14 local car manufacturers to overcome difficulties and maintain recovery and growth, according to the MoF.

Last year, the Government issued Decree No. 36/2023/ND-CP dated June 21, 2023 on extending the time limit for paying excise tax on domestically manufactured or assembled cars, applicable for the tax period of June, July, August and September of the same year.

Source: VGP