Tax and fee payment deadlines for companies are set to be deferred by three to five to help mitigate the worst effects of COVID-19. — Photo Courtesy chinhphu.vn HCM CITY — The Government needs to extend the deadlines for the payment of taxes and fees to support companies since the COVID-19 pandemic continues to affect them, experts have said. Chu Tiến Dũng, chairman of the HCM City Union of Business Associations, said a recent proposal by the Ministry of Finance to defer taxes is timely and good for businesses. HCM City is the country's economic hub, and companies there have been badly affected by the lack of human resources, since workers from other provinces have failed to come back in time after the Lunar New Year in mid-February. On top of that, social distancing and cleaning up the workplace have pushed off their costs, he said. "Though the economy grew last year, businesses faced great difficulty. "The first quarter is the time a new year begins, and so the Government should defer taxes to enable businesses have cash for the short term." It would be effective if the extension lasts two quarters instead of three to five months as recommended by the ministry, he said. Economist… Read full this story
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