Businesses apply for over $2 million tax and land rent extension

However, the total amount of money from the extensions that have already been sent to the tax authority is only one-third of the initial 7.73 billion USD estimate.

As of July 30, the General Department of Taxation has received over 170 thousand requests for tax and land rent extension from enterprises and business households, with a total worth of 2 billion USD.

Specifically, over 1.2 billion USD of enterprises' VAT, along with 882 million USD of enterprises' income tax, and roughly 142 million USD of land rent were extended.

As for business households and individuals, nearly 26 million USD of all the above taxes and land rent was extended. The state budget revenue collected by the taxation industry in the first seven months of 2020 is the lowest in recent years.