Circular No. 12/2009/TT-BTC dated January 22, 2009 of the Ministry of Finance guiding implementation of the extension for payment of corporate income tax in year 2009 applicable to enterprises in a number of business lines

THE MINISTRY OF FINANCE

Circular No. 12/2009/TT-BTC of January 22, 2009, guiding the extension of the time limit for payment of enterprise income tax due in 2009 for enterprises dealing in a number of business lines

Pursuant to the Law on Enterprise Income Tax and guiding documents;

Pursuant to the Law on Tax Administration and guiding documents;

Pursuant to the XIIth National Assembly’s Resolution No. 21/2008/QH12, on the 2009 state budget estimates;

Pursuant the Government’s Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Prime Minister’s Decision No. 16/2009/QD-TTg of January 21, 2009, promulgating tax measures for implementing the policy to stimulate investment and consumption demands, curb the economic downturn and remove difficulties for enterprises;

The Ministry of Finance guides the extension of the time limit for payment of enterprise income tax due in 2009 for enterprises dealing in a number of business lines as follows:

Part I

GENERAL PROVISIONS

Article 1. Scope of application

1. To extend the time limit for payment of enterprise income tax amounts due in 2009 to 9 months for income earned from the following business activities:

- Manufacture of mechanical products which are production supplies;

- Production of construction materials, including bricks and tiles of all kinds, lime and paints;

- Construction and installation;

- Tourist services;

- Food trading;

- Fertilizer trading.

2. Small- and medium-sized enterprises shall comply with the guidance in the Finance Ministry’s Circular No. 03/2009/TT-BTC of January 13, 2009.

Article 2. Conditions for application

1. The business registration certificates of enterprises must indicate business lines specified in Article 1 and enterprises are actually engaged in these business lines.

2. The extension of the time limit for enterprise income tax payment is only applicable to enterprises which fully observe the invoice and document-based accounting regulations and register for tax payment according to declaration.

Part II

EXTENSION OF THE TIME LIMIT FOR ENTERPRISE INCOME TAX PAYMENT

Article 3. Determination of enterprise income tax amounts eligible for payment delay

The enterprise income tax amount eligible for payment delay is the quarterly enterprise income tax amount due in 2009, calculated on income earned from activities specified in Article 1, Part I of this Circular.

The enterprise income tax amount eligible for payment delay is determined according to the enterprise’s business accounting results, if the enterprise can separately account income earned from business activities eligible for tax payment delay.

If the enterprise cannot separately account the payable enterprise income tax amount for business activities eligible for tax payment delay, such tax income tax amount shall be determined according to the proportion of turnover from business activities eligible for tax payment delay to total turnover in each quarter.

Article 4. Extended duration and declaration for payment of enterprise income tax in each quarter are specified as follows:

1. Extended duration for tax payment

- The deadline for payment of tax amounts due in the first quarter of 2009 is extended to the end of January 30, 2010;

-  The deadline for payment of tax amounts due in the second quarter of 2009 is extended to the end of April 30, 2010;

- The deadline for payment of tax amounts due in the third quarter of 2009 is extended to the end of July 30, 2010;

- The deadline for payment of tax amounts due in the fourth quarter of 2009 is extended to the end of December 30, 2010.

2. Declaration of tax amounts eligible for payment delay

Enterprises shall declare quarterly tax amounts eligible for payment delay under the guidance in Sections I and III, Part B of the Finance Ministry’s Circular No. 60/2007/TT-BTC of June 14, 2007. They shall also make a commitment in the declarations to fully pay the payable enterprise income tax amounts upon the expiration of the extended duration.

If the last day of the time limit for submission of tax declaration dossiers or the extended duration of tax payment specified in this Article falls on a law-prescribed holiday, the last day of the above time limit or duration will be the day following the holiday.

Part III

ORGANIZATION OF IMPLEMENTATION

Article 5. This Circular takes effect 45 days from the date of its signing and applies from the enterprise income tax declaration period of the first quarter of 2009.

Article 6. Any problems and difficulties arising in the process of implementation should be reported to the Ministry of Finance for timely guidance and settlement.-

For the Minister of Finance
Vice Minister
DO HOANG ANH TUAN