In order to support difficulties for taxpayers, businesses and people, promote production and business, the Government has issued Decree No. 12/2023/ND-CP on extending the deadline for VAT , corporate income tax (CIT), personal income tax (PIT) and land rent in 2023, effective from April 14, 2023 to the end of December 31, 2023.

I. Eligibility for extension

Group 1: Businesses, organizations, households, business households and individuals engaged in production activities in the economic sectors of agriculture, forestry and fishery; food production and processing; build; publish; crude oil and natural gas extraction; beverage production; print; Drainage and waste treatment…

Group 2: Businesses, organizations, households, business households and individuals doing business in the economic sectors of transportation and warehousing, accommodation and food services, education and training, and healthcare; creative, artistic and recreational activities; labor service activities and employment; Computer Programming…

Group 3: Businesses, organizations, households, business households and individuals engaged in production of supporting industry products prioritized for development; mechanical product when key.

Group 4: Small and micro enterprises are defined according to the provisions of the Law on Supporting Small and Medium Enterprises in 2017 and Decree No. 80/2021/ND-CP dated August 26, 2021 of the Government detailing a number of articles of the Law on Supporting Small and Medium Enterprises.

II. Extension of tax and land rent payment deadline

1. In case of VAT (except for import VAT)

Extended payment deadline of VAT period of March of 2023 shall be October 20 of 2023.

Extended payment deadline of VAT period of April of 2023 shall be November 20 of 2023.

Extended payment deadline of VAT period of May of 2023 shall be December 20 of 2023.

Extended payment deadline of VAT period of June of 2023 shall be December 20 of 2023.

Extended payment deadline of VAT period of July of 2023 shall be December 20 of 2023.

Extended payment deadline of VAT period of August of 2023 shall be December 20 of 2023.

Extended payment deadline of VAT period of the first Quarter of 2023 shall be October 31 of 2023.

Extended payment deadline of VAT period of the second Quarter of 2023 shall be October 31 of 2023.

2. In case of corporate income tax

The extended period shall be 3 months from the payment deadline of the first Quarter and second Quarter of tax period of 2023.

3. In case of land rents

The extended period shall be 6 months from May 31 of 2023 to November 30, 2023 of 50% of land rents payable in 2023.

III. Procedures for extension

Taxpayers send application for tax and land rent payment extension once time in the monthly (quarterly) tax period.

Taxpayers send application for tax and land rent payment extension once time before September 30, 2023 in case of filing other than the time of filing the tax return.

IV. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.

To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.

To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

■ Contact us now

For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

■ Contact Hankuk Law Firm:

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