Tax & legal alert - Circular 40 guiding VAT, PIT and Tax administration for business households and individuals
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Circular 40 on PIT, VAT & Tax administration
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.
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