After nearly two decades of implementation, the Law on Personal Income Tax 2007 and its subsequent amendments and supplements have promoted their significant role but also revealed shortcomings in the context of socio-economic developments. Currently, the Law on Personal Income Tax (the Draft Law) is being drafted and consulted for public comments, with the aim of addressing existing limitations and improving the legal framework governing personal income tax.
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Some highlights of the Decree on tax payment deadline extension
On June 17, 2024, the Government issued Decree 64/2024/ND-CP regulating the extension of the deadline for paying value-added tax, corporate income tax, personal income tax, and land rent in 2024. Decree 64 includes some typical contents for several individuals and businesses engaged in production and business activities in Viet Nam.
Read moreHighlights of the Draft Decree on extension of the time limit for payment of tax, land rents and water surface rents in 2022
In the context of on-going complicated and unpredicable development of the Covid-19 pandemic, which adversely impacts several businesses, the Government is developing a Draft Decree on extension of the time limit to pay value added tax, corporate income tax, personal income tax, land rents and water surface rents in 2022, which will be issued under simplified procedure. Some outstanding provisions of the Draft Decree (2nd Draft) are addressed in this article.
Read moreGuidance on tax declaration and payment for individuals having income from digital information content products and services
On June 1, 2021, the Ministry of Finance issued Circular 40/2021/TT-BTC guiding value added tax, personal income tax and tax administration of household businesses and individual businesses (Circular 40). Compared to Circular 92/2015/TT-BTC, Circular 40 has some changes in subject classification, tax calculation methods, determination of relevant organizations’ responsibilities, etc. Especially, Circular 40 has expanded the applicable subjects, typically individuals having income from digital information content products and services.
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