What does income from business subject to PIT in Vietnam include?

What does income from business subject to PIT in Vietnam include?

According to Clause 1, Article 2 of Circular 111/2013/TT-BTC, income from business includes incomes earned from the production and sale. To be specific:

(1) Incomes from production and sale of goods and services that belong to all industries such as: production, goods sale, construction, construction, restaurants, service provision including lease of houses, right to use land, water surface, and other property.

(2) Incomes from freelance works of individuals in the fields that are licensed or certificated as prescribed by law.

(3) Incomes from agriculture, forestry, salt production, and fishery that are not eligible for tax exemption according to Point e Clause 1 Article 3 of Circular 111/2013/TT-BTC.

What does income from business subject to PIT in Vietnam include? (Image from the Internet)

Which business lines are eligible for extension of the deadline for PIT payment in Vietnam?

According to the provisions of Articles 3 and 4 of Decree 64/2024/ND-CP, the following business lines are eligible for extension of the deadline for PIT payment:

(1) Enterprises, organizations, households, household businesses, and individuals engaged in production in the following economic sectors:

- Agriculture, forestry, and fisheries;

- Production and processing of food; textiles; production of garments; production of leather and related products; processing of wood and manufacturing of products from wood, bamboo, and rattan (excluding beds, cabinets, tables, and chairs); production of straw, rice straw, and woven materials; production of paper and paper products; production of rubber and plastic products; production of non-metallic mineral products; metal production; mechanical processing; treatment and coating of metals; production of electronics, computers, and optical products; manufacture of automobiles and other motor vehicles; production of beds, cabinets, tables, and chairs;

- Construction;

- Publishing activities; cinematographic activities, production of television programs, recording, and publishing of music;

- Extraction of crude oil and natural gas (without extending corporate income tax for crude oil, condensate, and natural gas collected under agreements and contracts);

- Production of beverages; printing, and replication of recorded media of all kinds; production of coke, refined petroleum products; production of chemicals and chemical products; production of fabricated metal products (excluding machinery and equipment); production of motorcycles, motorbikes; repair, maintenance, and installation of machinery and equipment;

- Wastewater and waste treatment.

(2) Enterprises, organizations, households, household businesses, and individuals engaged in business activities in the following economic sectors:

- Transportation and warehousing; accommodation and catering services; education and training; healthcare and social assistance activities; real estate business activities;

- Labor and employment services; activities of travel agencies, tour business, and services supporting, related to tourism promotion and organization;

- Creative, artistic, and entertainment activities; activities of libraries, archives, museums, and other cultural activities; sports, entertainment, and recreational activities; movie screening activities;

- Broadcasting activities; computer programming, consulting services, and other services related to computers; information service activities;

- Support services for mining activities.

The list of economic sectors is determined according to Decision 27/2018/QD-TTg on the promulgation of the Vietnam economic sector classification system.

(3) Enterprises, organizations, households, household businesses, and individuals engaged in the production of prioritized supporting products; key mechanical products.

The prioritized supporting products are determined according to Decree 111/2015/ND-CP of the Government of Vietnam on the development of supporting industries; key mechanical products are determined according to Decision 319/QD-TTg in 2018 of the Prime Minister of the Government of Vietnam approving the Strategy for the development of Vietnam's mechanical industry up to 2025, with a vision to 2035.

What is the extended period of the deadline for PIT payment by household businesses and individual businesses in Vietnam?

According to the provisions of Clause 3, Article 4 of Decree 64/2024/ND-CP regarding the extension of the deadline for PIT payment:

Extension of tax and land rent payment deadlines

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3. For value-added tax and personal income tax of household businesses and individual businesses

The payment deadlines for value-added tax and personal income tax for the amount of tax payable arising in 2024 for household businesses and individual businesses engaged in business lines specified in Clauses 1, 2, and 3 of Article 3 of this Decree are extended. Household businesses and individual businesses shall pay the extended tax amounts by December 30, 2024.

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The extended period of the deadline for PIT payment by household businesses and individual businesses applies to the amounts payable arising in 2024 for those operating in business lines eligible for the extension of the deadline for PIT payment, which will be extended until December 30, 2024.