What are xem bóng đá trực tiếp nhà cái two tax payment methods for household businesses in Vietnam?
What are tax calculation principles for household businesses in Vietnam?
Based on Article 4 ofCircular 40/2021/TT-BTC, xem bóng đá trực tiếp nhà cái principles of tax calculation for household businesses and individuals are as follows:
- xem bóng đá trực tiếp nhà cái tax calculation principles for household businesses and individuals are executed according to current legal regulations on VAT, PIT, and other relevant legal documents.
- household businesses and individuals with revenue from production and business activities in xem bóng đá trực tiếp nhà cái calendar year of 100 million VND or less are exempted from paying VAT and PIT as per xem bóng đá trực tiếp nhà cái tax laws.
household businesses and individuals are responsible for declaring taxes accurately, honestly, and completely and submitting tax documents on time; they bear legal responsibility for xem bóng đá trực tiếp nhà cái accuracy, honesty, and completeness of their tax documents.
- For household businesses and individuals operating as a group or family unit, xem bóng đá trực tiếp nhà cái revenue threshold of 100 million VND/year to determine xem bóng đá trực tiếp nhà cái exemption from VAT and PIT is applied to one representative of xem bóng đá trực tiếp nhà cái group or family unit during xem bóng đá trực tiếp nhà cái tax calculation year.
What are xem bóng đá trực tiếp nhà cái two tax payment methods for household businesses in Vietnam? (Image from xem bóng đá trực tiếp nhà cái Internet)
What are xem bóng đá trực tiếp nhà cái two tax payment methods for household businesses in Vietnam?
According to xem bóng đá trực tiếp nhà cái regulations ofThông tư 40/2021/TT-BTC, household businesses can choose one of xem bóng đá trực tiếp nhà cái following tax payment methods:
First, Declaration Method
Based on Clause 3, Article 3 ofCircular 40/2021/TT-BTC: xem bóng đá trực tiếp nhà cái declaration method is a tax declaration and calculation method based on xem bóng đá trực tiếp nhà cái percentage of actual revenue arising monthly or quarterly.
As per Clause 1, Article 5 ofCircular 40/2021/TT-BTC, household businesses submitting tax via xem bóng đá trực tiếp nhà cái declaration method are regulated as follows:
(i) xem bóng đá trực tiếp nhà cái declaration method is applied to xem bóng đá trực tiếp nhà cái following subjects:
- Large-scale household businesses and individuals.
- household businesses and individuals that do not yet meet xem bóng đá trực tiếp nhà cái large-scale criteria but choose to pay tax via xem bóng đá trực tiếp nhà cái declaration method.
(ii) household businesses using xem bóng đá trực tiếp nhà cái declaration method file tax monthly unless they are new to xem bóng đá trực tiếp nhà cái business or meet criteria for quarterly declarations and opt for quarterly declarations as per Article 9 ofDecree 126/2020/ND-CP.
(iii) household businesses using xem bóng đá trực tiếp nhà cái declaration method with inaccurately assessed revenues will have xem bóng đá trực tiếp nhà cái tax authority adjust taxable revenue as per Article 50 of xem bóng đá trực tiếp nhà cáiTax Administration Law 2019.
(iv) Those using xem bóng đá trực tiếp nhà cái declaration method must adhere to accounting policies, invoices, and records. However, if a business can confirm its revenue through appropriate government agencies, it may bypass accounting policies.
(v) household businesses and individuals using xem bóng đá trực tiếp nhà cái declaration method are exempt from tax finalization.
Second, Presumptive Method
According to Clause 7, Article 3 ofCircular 40/2021/TT-BTCand Clause 1, Article 7 ofCircular 40/2021/TT-BTC(amended by Clause 1, Article 1 ofCircular 100/2021/TT-BTC), xem bóng đá trực tiếp nhà cái presumptive method is defined for household businesses as follows:
(i) Presumptive method calculates tax based on xem bóng đá trực tiếp nhà cái set percentage of presumptive revenue determined by xem bóng đá trực tiếp nhà cái tax authority according to Article 51 of xem bóng đá trực tiếp nhà cáiTax Administration Law 2019.
(ii) This method is applied to household businesses and individuals not eligible for xem bóng đá trực tiếp nhà cái declaration method or per-transaction tax payment.
(iii) household businesses (Presumptive) under this method are exempt from accounting policies. If utilizing government-issued invoices, they must keep and present invoices, records, contracts, and proof of legitimate goods/services when requesting invoice issuance.
For those trading in border markets, ports, or economic zones within Vietnam, storage of invoices and proof of legal goods is required for government inspection.
(iv) Households informed of their presumptive tax amount at xem bóng đá trực tiếp nhà cái year's start must pay accordingly. If ceasing or pausing operations during xem bóng đá trực tiếp nhà cái year, tax adjustments are made as per points b.4, b.5, clause 4, Article 13 of Circular 40/2021/TT-BTC.
New businesses operating less than 12 months within a calendar year, earning over 100 million VND, must pay VAT and PIT; those earning 100 million VND or less are exempt.
(v) Presumptive households file annual tax returns per point c, clause 2, Article 44 of xem bóng đá trực tiếp nhà cáiTax Administration Law 2019and pay taxes by deadlines on xem bóng đá trực tiếp nhà cái tax authority's payment notices per clause 2, Article 55 of xem bóng đá trực tiếp nhà cái same law.
Using tax authority-issued invoices on a per-number basis necessitates separate tax filings for each transaction.
Where and how to pay taxes in Vietnam?
According to Article 56 of xem bóng đá trực tiếp nhà cáiTax Administration Law 2019, xem bóng đá trực tiếp nhà cái regulations on where and how to pay taxes are as follows:
Location and Means of Tax Payment
1. Taxpayers remit taxes to xem bóng đá trực tiếp nhà cái state budget as follows:
a) At xem bóng đá trực tiếp nhà cái State Treasury;
b) At xem bóng đá trực tiếp nhà cái tax authority where xem bóng đá trực tiếp nhà cái tax filing is processed;
c) Through a tax collection organization authorized by xem bóng đá trực tiếp nhà cái tax authority;
d) Through commercial banks, credit institutions, and service organizations as regulated by law.
2. xem bóng đá trực tiếp nhà cái State Treasury, commercial banks, credit institutions, and service organizations are responsible for arranging locations, facilities, officials, and staff to facilitate taxpayer convenience in promptly paying taxes into xem bóng đá trực tiếp nhà cái state budget.
3. Organizations receiving tax payments or withholding taxes must issue a tax receipt to xem bóng đá trực tiếp nhà cái taxpayer.
4. Within 8 working hours of collecting xem bóng đá trực tiếp nhà cái tax, receiving organizations must remit xem bóng đá trực tiếp nhà cái funds to xem bóng đá trực tiếp nhà cái state budget. For cash collections in remote, isolated, or challenging regions, xem bóng đá trực tiếp nhà cái Finance Minister sets xem bóng đá trực tiếp nhà cái deadline for fund remittance into xem bóng đá trực tiếp nhà cái state budget.
Therefore, taxpayers may directly pay taxes at xem bóng đá trực tiếp nhà cái State Treasury, xem bóng đá trực tiếp nhà cái tax authority where tax reports are submitted, or through organizations authorized by xem bóng đá trực tiếp nhà cái tax authority to collect taxes.
Additionally, tax payments can be made through commercial banks, other credit institutions, and service organizations according to xem bóng đá trực tiếp nhà cái law.
