On 01 June 2021, the Ministry of Finance (“MoF”) issued Circular 40/2021/TT-BTC (“Circular 40”) guiding Value Added Tax (“VAT”), Personal Income Tax (“PIT”) and Tax administration for business households and individuals. This Circular officially replaces and abolishes Chapter I and II of Circular 92/2015/TT-BTC (“Circular 92”) guiding the implementation of VAT and PIT applicable to residents doing business.
Circular 40 takes effect from 01 August 2021.
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.
For regulation changes and tax matters, we can provide you with assistance on:
- Registration, declaration of Personal Income Tax, Corporate Tax, VAT and Foreign Contractor Tax.
- Tax refunds assistance and representation.
- Consultancy on utilizing opportunities provided by transfer pricing.
- Customs advisory: Compliance & reporting; FTA and C/O; Harmonised System code classification and valuation; Inventory control; International trade arrangement; and Others.
[ENG] Mazars in Vietnam_Tax alert_Circular 40 on PIT, VAT for individual household doing business
[VIE] Mazars Vietnam_Tin Thuế_Thông tư 40 về thuế TNCN-GTGT đối với hộ kinh doanh, cá nhân kinh doanh