What vtv2 trực tiếp bóng đá hôm nay policies for household businesses shall come into force in Vietnam from January 1, 2025?
What vtv2 trực tiếp bóng đá hôm nay policies for household businessesshall comeinto forcein Vietnam from January 1, 2025?
Below is a summary of significant changes in vtv2 trực tiếp bóng đá hôm nay policy that will come into force from January 1, 2025, which household businesses need to know:
(1) household business Owners Owing Taxes Will Be Temporarily Suspended from Exiting the Country from January 1, 2025:
Currently, Article 66 of theLaw on vtv2 trực tiếp bóng đá hôm nay Administration 2019stipulates as follows:
Fulfillment of vtv2 trực tiếp bóng đá hôm nay Obligations in the Event of Exit
- Taxpayers subject to enforcement of administrative decisions on vtv2 trực tiếp bóng đá hôm nay management, Vietnamese citizens exiting to settle abroad, Vietnamese citizens residing abroad, and foreigners before exiting Vietnam must fulfill their vtv2 trực tiếp bóng đá hôm nay obligations. In cases of not fulfilling vtv2 trực tiếp bóng đá hôm nay obligations, they will be temporarily suspended from exiting in accordance with the laws on exit and entry.
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In particular, point a, clause 1 of Article 21 ofDecree 126/2020/ND-CPstates that taxpayers include individuals and individuals who are legal representatives of enterprises subject to enforcement of administrative decisions on vtv2 trực tiếp bóng đá hôm nay management who have not yet fulfilled their vtv2 trực tiếp bóng đá hôm nay obligations.
However, clause 9 of Article 6 ofLaw No. 56/2024/QH15(effective from January 1, 2025) amends and supplements clause 1 of Article 66 of theLaw on vtv2 trực tiếp bóng đá hôm nay Administration 2019and clearly states that the subjects suspended from exiting include both individuals and household businesses. To be specific:
Individuals engaged in business, household business owners, individuals being legal representatives of enterprises, cooperatives, and cooperative unions subject to enforcement of administrative decisions on vtv2 trực tiếp bóng đá hôm nay management, Vietnamese citizens exiting to settle abroad, Vietnamese citizens residing abroad, and foreigners before exiting Vietnam must fulfill their vtv2 trực tiếp bóng đá hôm nay obligations.
Thus, from January 1, 2025, household business owners will be temporarily suspended from exit if they owe taxes.
(2) E-commerce Platform Owners Must Deduct and Pay Taxes on Behalf of household businesses from January 1, 2025
Clause 5, Article 6 ofLaw No. 56/2024/QH15provides as follows:
For households and individuals conducting business on e-commerce or digital platforms, the organization managing the e-commerce platform, the digital platform with payment functions (including both domestic and international organizations) and other digital economy entities as stipulated by the Government of Vietnam must deduct, pay taxes on behalf, and declare the deducted taxes for household businesses and individuals conducting business. If households and individuals conducting business on e-commerce or digital platforms are not subject to vtv2 trực tiếp bóng đá hôm nay deduction and payment on behalf, they must directly undergo taxpayer registration, vtv2 trực tiếp bóng đá hôm nay declaration, and vtv2 trực tiếp bóng đá hôm nay payment.
Thus, from January 1, 2025 (the effective date ofLaw No. 56/2024/QH15), in cases where household businesses conduct business on e-commerce platforms, the organization managing the e-commerce platform, the digital platform with payment functions (including both domestic and international organizations), and other digital economy entities must deduct, pay taxes on behalf, and declare the deducted taxes for household businesses according to regulations by the Government of Vietnam.
(3) household businesses with Revenue Below 200 Million VND/Year Will Not Have to Pay VAT from January 1, 2026
According to Article 5 of theValue Added vtv2 trực tiếp bóng đá hôm nay Law 2024, which stipulates entities not subject to value-added vtv2 trực tiếp bóng đá hôm nay, household businesses are specified as follows:
Entities Not Subject to vtv2 trực tiếp bóng đá hôm nay
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- Goods and services produced and traded by households and individuals with an annual revenue of 200 million VND or less; assets of organizations and individuals not engaged in business or not liable for value-added vtv2 trực tiếp bóng đá hôm nay sales; national reserve goods sold by national reserve agencies; fees and charges collected in accordance with the provisions of the law on fees and charges.
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Furthermore, clause 2 of Article 18 of theValue Added vtv2 trực tiếp bóng đá hôm nay Law 2024stipulates the effective date as follows:
Effective Date
- This Law shall come into effect from July 1, 2025, except as provided in clause 2 of this Article.
- Provisions on the revenue level of households and individuals engaged in production and business activities who are not subject to vtv2 trực tiếp bóng đá hôm nay as stipulated in clause 25 of Article 5 of this Law and Article 17 of this Law shall come into effect from January 1, 2026.
- The Value Added vtv2 trực tiếp bóng đá hôm nay Law No. 13/2008/QH12, as amended and supplemented by Law No. 31/2013/QH13, Law No. 71/2014/QH13, and Law No. 106/2016/QH13, shall cease to be effective as from the effective date of this Law.
Accordingly, the regulation on the revenue level of household businesses will officially apply from January 1, 2026. This means that from January 1, 2026, household businesses with revenue below 200 million VND/year will not have to pay VAT.
What vtv2 trực tiếp bóng đá hôm nay policies for household businesses shall come into force in Vietnam from January 1, 2025?(Image from the Internet)
Do household businesseshave TINs?
According to point e, clause 3, Article 30 of theLaw on vtv2 trực tiếp bóng đá hôm nay Administration 2019, the issuance of TINs is stipulated as follows:
Subjects of Taxpayer Registration and Issuance of TINs
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- The issuance of TINs is stipulated as follows:
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e) TINs issued to families, household businesses, individual businesses are TINs issued to individuals representing families, household businesses, and individual businesses.
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Thus, household businesses do have TINs, and the TIN issued to a household business is the TIN issued to the individual's representative of the household business.
Vietnam: Is the TIN for a household business 10 digits or 13 digits?
According to clause 2, Article 30 of theLaw on vtv2 trực tiếp bóng đá hôm nay Administration 2019, the structure of TINs for household businesses is regulated as follows:
Subjects of Taxpayer Registration and Issuance of TINs
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- The structure of TINs is regulated as follows:
a) The 10-digit TIN is used for enterprises, organizations with legal person status; representatives of families, household businesses, and other individuals;
b) The 13-digit and character TIN is used for dependent units and other subjects;
c) The Minister of Finance shall prescribe in detail for this clause.
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Thus, the structure of TINs for household businesses is a 10-digit TIN.
