trực tiếp bóng đá hôm nay euroAre individual and household businesses with annual revenue below 200 million VND not required to pay VAT in Vietnam from 2026?

Are individual and household businesses with annual revenue below 200 million VND not required to pay VAT in Vietnam?

On November 26, 2024, trực tiếp bóng đá hôm nay euro National Assembly passed trực tiếp bóng đá hôm nay euro Law on Value Added Tax, which will take effect from July 1, 2025, replacing trực tiếp bóng đá hôm nay euro Value Added Tax Law 2008.

Based on Article 5 of trực tiếp bóng đá hôm nay euro Law on Value Added Tax, trực tiếp bóng đá hôm nay euro regulation on subjects not subject to value-added tax includes trực tiếp bóng đá hôm nay euro following provision for individual households:

Non-taxable subject

…

25. Goods and services of households and individuals engaged in production and business with an annual revenue of 200 million VND or less; assets of organizations and individuals not engaged in business, not required to pay value-added tax upon sale; national reserves sold by national reserve agencies; fees and charges collected as per law on fees and charges.

Additionally, according to Article 18 of trực tiếp bóng đá hôm nay euro Law on Value Added Tax, trực tiếp bóng đá hôm nay euro provision on trực tiếp bóng đá hôm nay euro effective date is as follows:

Effective date

1. This Law takes effect from July 1, 2025, except for trực tiếp bóng đá hôm nay euro provision stipulated in clause 2 of this Article.

2. trực tiếp bóng đá hôm nay euro provision regarding trực tiếp bóng đá hôm nay euro revenue level for households and individuals engaged in production and business, which are non-taxable subjects as stipulated in clause 25, Article 5 of this Law and Article 17 of this Law, takes effect from January 1, 2026.

3. trực tiếp bóng đá hôm nay euro Value Added Tax Law No. 13/2008/QH12, as amended and supplemented by Law No. 31/2013/QH13, Law No. 71/2014/QH13, and Law No. 106/2016/QH13, shall cease to have effect from trực tiếp bóng đá hôm nay euro date this Law takes effect.

Thus, trực tiếp bóng đá hôm nay euro regulation that individual and household businesses with annual revenue below 200 million VND are not required to pay VAT will officially be applied from January 1, 2026.

Download trực tiếp bóng đá hôm nay euro Law on Value Added Tax...Download

Are individual and household businesses with annual revenue below 200 million VND not required to pay VAT in Vietnam from 2026?(Image from trực tiếp bóng đá hôm nay euro Internet)

What conditions for representatives of household businesses to participate in trực tiếp bóng đá hôm nay euro commune-level tax advisory council in Vietnam?

Based on trực tiếp bóng đá hôm nay euro provisions of clause 2, Article 6 ofCircular 80/2021/TT-BTC, representatives of business households and individual businesses participating in trực tiếp bóng đá hôm nay euro commune-level tax advisory council must meet trực tiếp bóng đá hôm nay euro following conditions:

- Comply well with state laws on production and business as well as tax laws;

- Have a minimum of 03 years of business experience up to trực tiếp bóng đá hôm nay euro day before participating in trực tiếp bóng đá hôm nay euro tax advisory council.

+ In cases where there are no business households or individual businesses with at least 03 years of operation in trực tiếp bóng đá hôm nay euro locality, select trực tiếp bóng đá hôm nay euro business household or individual business with trực tiếp bóng đá hôm nay euro longest operation period.

+ Priority is given to those representatives who are team leaders, deputy leaders, heads, or deputy heads of business production sectors in trực tiếp bóng đá hôm nay euro commune, ward, commune-level town, market, or commercial center.

What responsibilities do representatives of household businesses have when participating in trực tiếp bóng đá hôm nay euro commune-level tax advisory council in Vietnam?

trực tiếp bóng đá hôm nay euro responsibilities of representatives of business households and individuals participating in trực tiếp bóng đá hôm nay euro commune-level tax advisory council are stipulated in clause 3, Article 11 ofCircular 80/2021/TT-BTCas follows:

Responsibilities of trực tiếp bóng đá hôm nay euro tax advisory council

1. Tax consulting and tax management responsibilities

a) Consulting on projected stable annual revenue and fixed tax for business households and individuals paying taxes by trực tiếp bóng đá hôm nay euro fixed method, including business households and individuals with revenue levels not subject to VAT and personal income tax;

b) Consulting on tax adjustments for business households and individuals paying taxes by trực tiếp bóng đá hôm nay euro fixed method when there are changes in business activities such as changes in scale, location; changes in business lines; temporary business cessation or suspension within trực tiếp bóng đá hôm nay euro tax year;

c) Cooperating with trực tiếp bóng đá hôm nay euro Tax Department to urge and manage trực tiếp bóng đá hôm nay euro activities of business households and individuals paying taxes by trực tiếp bóng đá hôm nay euro fixed method in trực tiếp bóng đá hôm nay euro locality.

2. Responsibilities of trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council

a) Make decisions on trực tiếp bóng đá hôm nay euro work program and plans of trực tiếp bóng đá hôm nay euro tax advisory council;

b) Invite representatives, convene members, and preside over meetings of trực tiếp bóng đá hôm nay euro tax advisory council;

c) Assign tax advisory council members to monitor specific tasks;

d) Make decisions and bear overall responsibility for trực tiếp bóng đá hôm nay euro activities of trực tiếp bóng đá hôm nay euro tax advisory council and its members in carrying out their assignments according to regulations;

đ) Report in writing to trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro district-level People's Committee and trực tiếp bóng đá hôm nay euro Chief of trực tiếp bóng đá hôm nay euro Tax Department in cases where an individual or other members cannot continue to participate in trực tiếp bóng đá hôm nay euro tax advisory council;

e) Sign documents and communication materials on behalf of trực tiếp bóng đá hôm nay euro tax advisory council.

3. Responsibilities of trực tiếp bóng đá hôm nay euro tax advisory council members

a) General responsibilities of tax advisory council members

a.1) Carry out tasks as assigned by trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council and bear responsibility to trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council for trực tiếp bóng đá hôm nay euro results of trực tiếp bóng đá hôm nay euro assigned tasks;

a.2) Arrange to participate fully in trực tiếp bóng đá hôm nay euro activities of trực tiếp bóng đá hôm nay euro tax advisory council;

a.3) Present opinions at trực tiếp bóng đá hôm nay euro meeting or in writing;

a.4) Report in writing to trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council in cases where they cannot continue participating in trực tiếp bóng đá hôm nay euro tax advisory council.

b) Responsibilities of trực tiếp bóng đá hôm nay euro permanent member of trực tiếp bóng đá hôm nay euro tax advisory council

b.1) Propose trực tiếp bóng đá hôm nay euro work program and plan of trực tiếp bóng đá hôm nay euro tax advisory council and propose assignment of tasks for members for consideration and decision by trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council;

b.2) Prepare materials, record minutes, and summarize contributions from tax advisory council members during meetings;

b.3) Report to trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council and trực tiếp bóng đá hôm nay euro Chief of trực tiếp bóng đá hôm nay euro Tax Department in cases where changes or additions to trực tiếp bóng đá hôm nay euro tax advisory council members are necessary.

4. trực tiếp bóng đá hôm nay euro tax advisory council is responsible for sending tax consultation results to trực tiếp bóng đá hôm nay euro district-level People's Committee and trực tiếp bóng đá hôm nay euro commune-level People's Committee simultaneously with sending results to trực tiếp bóng đá hôm nay euro Tax Department.

Thus, representatives of business households and individuals participating in trực tiếp bóng đá hôm nay euro commune-level tax advisory council have trực tiếp bóng đá hôm nay euro following responsibilities:

- Implement tasks as assigned by trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council and bear responsibility to trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council for trực tiếp bóng đá hôm nay euro results of assigned tasks;

- Arrange to participate fully in trực tiếp bóng đá hôm nay euro activities of trực tiếp bóng đá hôm nay euro tax advisory council;

- Present opinions at meetings or in writing;

- Report in writing to trực tiếp bóng đá hôm nay euro Chairman of trực tiếp bóng đá hôm nay euro tax advisory council in cases where they cannot continue participating in trực tiếp bóng đá hôm nay euro tax advisory council.