Business households with revenue up to 10 billion VND may pay tax based on revenue

The Vietnamese government has presented a new tax payment option to the National Assembly, aiming to simplify the process for individual business owners. This proposal allows business households generating revenues of up to 10 billion VND to choose a more straightforward tax payment method. Specifically, this method would calculate the payable tax by applying a specific tax rate directly to their taxable revenue. The objective is to facilitate easier compliance for small businesses and individual entrepreneurs, thereby reducing their administrative burden related to tax obligations. Key points * Government submits new tax proposal to National Assembly. * Individual businesses with revenue up to 10 billion VND. * May choose to pay tax based on tax rate multiplied by revenue. Nguồn / Source: VnExpress - Kinh doanh