CIRCULAR

GUIDING THE IMPLEMENTATION OF THE JANUARY 19, 2012 DECISION No. 04/2012/QD-TTG OF PRIME MINISTER ON MORE EXTENSION BY 3 MONTHS THE DEADLINES OF PAYMENT OF CORPORATE INCOME TAX PAYABLE OF THE FIRST AND SECOND QUARTERS OF 2011 FOR THE SMALL, MEDIUM -SIZED ENTEPRISES AND LABOUR-INTENSIVE ENTEPRISES

Pursuant to the Law on corporate income tax and its guiding documents;

Pursuant to the Law on tax administration and its guiding documents;

Pursuant to the Government’s Decree No. 118/2008/ND-CP of November 27, 2011 defining functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Prime Minister’s Decision No.04/2012/QD-TTg of January 19, 2012 on extension by 03 months deadlines of payment of corporate income tax payable for the first and second quarters of 2011 for the small, medium sized enterprises and labor- intensive enterprises;

The Ministry of Finance guides the extension deadlines of payment of corporate income tax applicable to enterprises as follows:

Article 1. Scope and subjects of application

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Specifying of the small and medium-sized enterprises and labor intensive enterprises stipulated in this Article shall be implement under guidance of the April 22, 2011 Circular No.52/2011/TT-BTC guiding the implementation of Decision No.21/2011/QD-TTg; the November 25, 2011 Circular No.170/2011/TT-BTC guiding the implementation of Decision No.54/2011/QD-TTg and the November 11, 2011 Circular No.154/2011/TT-BTC of the Ministry of Finance, guiding the implementation of the Government’s Decree No.101/2011/ND-CP of November 4, 2011 detailing the implementation of the National Assembly’s Resolution No. 08/2011/QH13 on additional issuance of some tax solutions to untie difficulties for enterprises and individuals.

Article 2. Determining the amount of CIT eligible for the extension of time for payment

The amount of Corporate income tax eligible for the extension of payment in first and second quarters of 2011 accordance with this Circular shall be the amount of Corporate income tax eligible for the extension of payment as provided for in the Circular No. 52/2011/TT-BTC and the Circular No.170/2011/TT-BTC.

Article 3. Period of tax payment deadline extension

1. Period of tax payment deadline extension for corporate income tax temporarily calculated specified in Article 1 of this Circular shall be determined as follows:

a) Period of tax payment deadline extension for corporate income tax temporarily calculated for the first quarter of 2011 shall be on July 30, 2012 at the latest.

b) Period of tax payment deadline extension for corporate income tax temporarily calculated for the second quarter of 2011 shall be on October 30, 2012 at the latest.

2. In cases where a tax payment date specified in Clause 1 of this Article falls on a holiday according to law, the period of tax payment deadline extension ends on the following working day.

Article 4. Procedure for and order of tax payment deadline extension

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- The corporate income tax amount is further extended for tax payment deadline as stipulated in the Decision No. 04/2012/QD-TTg.

- Requested extension period.

During the period of tax payment deadline extension, enterprises that enjoy tax payment deadline extension but fail to declare for deadline extension will be eligible for deadline extension according to this Circular. Enterprises may additionally fill in tax declaration dossiers on any working day, not depending on the tax declaration dossier submission deadline of the subsequent tax period, but before the time when tax offices or competent agencies notify decisions on tax examination and inspection at taxpayers’ working offices.

2. During the period of tax payment deadline extension, enterprises are not regarded as having delayed tax payment and will not be administratively sanctioned for delayed tax payment with respect to tax amounts eligible for payment deadline extension

Article 5. Implementation organization and effect

1. This Circular takes effect on April 26, 2012.

2. Organizations and individuals are requested to reflect any problems arising in the course of implementation to the Ministry of Finance for timely guidance on settlement./.

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