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On the afternoon of April 17, Tuổi Trẻ newspaper, in collaboration with the Tax Department and the Ho Chi Minh City Tax Department, held a seminar titled “Household Businesses: Transparent cash flow, expanded business opportunities,” with nearly 400 household businesses in attendance.
At the seminar, Le Thi Chinh, Deputy Head of Tax Administration (Tax Department), said that April 20 is the last day for household businesses to submit their first tax declaration period.
Under the new regulations, households with annual revenue of 500 million VND or less are not required to pay value-added tax (VAT) or personal income tax.
For revenue above 500 million VND per year, households must pay VAT using the revenue-based method, with rates varying by industry—for example, retail at 1% and dining services at 3% of revenue.
For personal income tax, households can apply different methods depending on their revenue scale:
Ms. Chinh also highlighted changes to tax declaration rules. Household businesses determine their own annual revenue. If annual revenue is up to 500 million VND (not subject to tax), they must file a 2026 annual revenue notification with the tax authority no later than January 31, 2027.
Regarding VAT declaration and payment:
For personal income tax:
Another requirement under the new rule is that household businesses must electronically notify the tax authority of all bank accounts and e-wallets related to business activities. Ms. Chinh noted that all households and individual businesses must comply with this requirement, including those with revenue below the tax threshold.
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