Decree No. 126/2020/NĐ-CP of Vietnam’s Government on elaboration of the Law on Tax Administration 2019

08:15, 22/10/2020

Recently, the Government of Vietnam has issued the Decree No. 126/2020/NĐ-CP on elaboration of the Law on Tax Administration.

According to Article 7 of the Decree No. 126/2020/NĐ-CP of Vietnam’s Government, a taxpayer is not required to declare tax in the following 05 cases:

- The taxpayer only has business operations that are not subject to any tax.

- The taxpayer is an individual earning tax-free income as prescribed by personal income tax laws and Point b Clause 2 Article 79 of the Law on Tax Administration of Vietnam, except individuals that receive real estate as inheritance or gift and individuals that transfer real estate.

- An enterprise that only exports is not required to declare VAT.

- The taxpayer’s business suspension is suspended as prescribed in Article 4 of this Decree.

- The taxpayer applies for TIN invalidation, except termination of business operation, contract or business rearrangement prescribed in Clause 4 Article 44 of the Law on Tax Administration of Vietnam.

View more details at the Decree No. 126/2020/NĐ-CP of Vietnam’s Government, effective from December 05, 2020.

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