Widely disseminate tax incentive policies to people and businesses affected by storm No. 3

Storm No. 3 swept through the northern provinces and cities of our country, including the "capital" of industrial parks, Bac Ninh, which has greatly affected production and business activities. In order to promptly share and support organizations, individuals and businesses that have suffered losses, the General Department of Taxation recently issued an official dispatch requesting the Tax Departments in 26 provinces and cities (including Bac Ninh) to deploy more specific instructions on solutions to support organizations, individuals and businesses that have suffered losses.

Accordingly, businesses affected by natural disasters will enjoy incentives on many taxes such as: value added tax, corporate income tax, special consumption tax, resource tax, and non-agricultural land use tax.

Provincial Tax Department officials survey damage at HB Kinh Bac Group Joint Stock Company.

For value added tax, enterprises are granted a 1-2 year extension on tax payments and are entitled to deduct input value added tax on goods used for production and business. Regarding corporate income tax, losses due to natural disasters are included in expenses when determining taxable income. Enterprises are also entitled to a maximum 30% reduction in special consumption tax in the year of the loss.

For resource tax, enterprises are exempted or have their tax reduced for the amount of lost resources. If tax has been paid, it will be refunded or deducted from the tax payable in the following period. If there is damage to land and houses, enterprises are entitled to a 50% reduction in non-agricultural land use tax.

In case individuals and business households are affected by natural disasters, the personal income tax rate is reduced corresponding to the level of damage, but not exceeding the amount of tax payable. Special consumption tax is reduced corresponding to the damage, but not exceeding 30% of the amount of tax payable.

In addition, businesses and people who suffer damage directly affecting production and business are granted an extension to pay taxes for no more than 2 years from the tax deadline. Taxpayers who are unable to submit tax declarations on time due to natural disasters are granted an extension to submit tax declarations by the head of the tax authority directly managing them.

In order for people to promptly enjoy tax incentives, the Provincial Tax Department is urgently informing and disseminating information about the content, process, and procedures for tax support requests on mass media, the Website, Fanpage, and Zalo of the Bac Ninh Tax Department and sending open letters to individuals and businesses so that they can understand clearly.

At the same time, review cases of taxpayers suffering serious damage to report to competent authorities to provide timely support, coordinate with relevant agencies to determine and confirm the value of taxpayers' damage.

Speed ​​up the settlement of administrative procedures related to tax declarations, requests for tax exemption, reduction, and extension; assign specialized staff to be the focal point to answer questions in the process of making documents and procedures to request support for taxpayers...

In the spirit of sharing difficulties, taxpayers can contact tax authorities at all levels to receive specific and timely guidance on support policies both directly and online.

Source: https://www.congluan.vn/bac-ninh-tuyen-truyen-rong-rai-chinh-sach-uu-dai-thue-den-nguoi-dan-doanh-nghiep-bi-thiet-hai-do-bao-so-3-post313970.html