Phu Yen supports enterprises impacted by COVID-19 pandemic

December 09, 2020 | 10:52

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Phu Yen People’s Committee has extended a range of support for businesses affected by the COVID-19 pandemic, including extending payment deadlines for value added tax and corporate income tax.

phu yen supports enterprises impacted by covid 19 pandemic

Phu Yen is working to set a steady base for its plans for the next five years

The total tax amount receiving this extension is VND133 billion ($5.78 million), VND8.2 billion ($356,520) of which is for land rental and VND124.8 billion ($5.43 million) is value added and corporate income tax (VAT and CIT).

In the first 11 months, Phu Yen approved 490 newly-established enterprises with the total capital of VND5.51 trillion ($239.57 million), up 13.7 per cent in the number of businesses but down 2.1 per cent in capital. As of the end of November, the province had 3,469 operating enterprises with the total registered capital of VND63.26 trillion ($2.75 billion).

Besides, in the first 11 months, the province provided in-principle approval for investment plans and granted investment certificates to 43 projects.

Phu Yen also stepped up the organisation of investment promotion programmes to reach out to investors and learn about their difficulties to resolve them.

2021 is the first year of Phu Yen's socioeconomic development plan for 2021-2025. Under the plan, this year, the province targets to reach $210 million in export turnover and VND8.63 trillion ($375.22 million) in the province’s budget. In addition, the province expects to complete 71 per cent of the new rural development programme and generate 25,000 jobs for local people, along with increasing forest coverage to 46 per cent.

By Ha Vy

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