This Circular amends some regulations on declaration and payment of tax incurred by household businesses and individual businesses, including:
- How to calculate revenue as the basis for determining whether presumptive taxpayers that newly do business are exempt from tax payment or have to pay tax;
- Cases of declaring, paying tax on behalf of individual businesses;
- How to calculate revenue as the basis for determining whether individuals that lease out their property not full year are exempt from tax payment or have to pay tax;
- Responsibility of owner of an e-commerce platform in declaring and paying tax on behalf of individuals and sharing information of the individuals to tax authorities;
Accordingly, with regard to presumptive taxpayers that newly do business and the first year of business is not full 12 months, they shall pay tax only when revenue in the year is exceeding 100 million VND; if revenue in the year is 100 million VND or less, they shall be exempt from tax payment.
With regard to individuals leasing out their property and the leasing period is not full 12 months, they shall pay tax if revenue from leasing property in the year is exceeding 100 million VND; In contrast, they shall be exempt from tax if revenue from leasing property in the year is 100 million VND or less.
Previously, under the earlier regulations at Circular No. 40/2021/TT-BTC , it is required to converse into revenue of 12 months to determine whether presumptive taxpayers/ individuals leasing out property are exempt from paying tax or having to pay tax
This Circular takes effect from January 1st, 2022.
|Published||Vietlaw's Newsletter No. 539|