Business households have 03 tax payment methods: tax payment under periodic declarations, paying tax under separate declarations, and tax payment under presumptive method. So, in what cases does a business household pay tax under periodic declarations in Vietnam?
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In what cases does a business household pay tax under periodic declarations in Vietnam? (Source: Internet)
1. In what cases does a business household pay tax under periodic declarations in Vietnam?
According to Clause 1, Article 5 of Circular 40/2021/TT-BTC, periodic declarations shall be prepared by:
- Large-scale household businesses and individual businesses
- Other household businesses and individual businesses that choose to pay tax under periodic declarations
2. Regulation on business households paying taxes under periodic declarations in Vietnam
- Household businesses and individual businesses paying tax under periodic declarations shall declare tax monthly except:
New businesses and businesses that satisfy the criteria for declaring tax quarterly prescribed in Article 9 of Decree 126/2020/ND-CP.
- If the revenue of a household business or individual business that is paying tax under periodic declarations is found to be false, the tax authority shall impose the taxable revenue as prescribed in Article 50 of Vietnam's Law on Tax Administration.
- Household businesses and individual businesses paying tax under periodic declarations shall comply with on accounting, invoices and documents.
A household business or individual business is not required to do accounting if their a business line has the basis for determination of revenue which is confirmed by a competent authority,
- Household businesses and individual businesses paying tax under periodic declarations are not required to finalize tax.
(Article 5 of Circular 40/2021/TT-BTC)
Diem My
- Key word:
- business household in Vietnam
