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red-check Guidelines on some new amendments relating to VAT and PIT

Circular No. 92/2015/TT-BTCstatus2 dated June 15, 2015 of the Ministry of Finance on guidelines for vat and personal income tax incurred by residents doing business, amendments to some articles on personal income tax of the Law No. 71/2014/QH13status2 on the amendments to tax Laws and the Government's Decree No. 12/2015/ND-CPstatus2 dated February 12, 2015 on guidelines for the Law on the amendments to tax Laws and Decrees on taxation
Posted: 15/7/2015 10:58:19 AM | Latest updated: 27/8/2022 11:06:42 AM (GMT+7) | LuatVietnam: 3766 | Vietlaw: 210
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This Circular provides the guidance in details on the value added tax (VAT), personal income tax (PIT) declaration of businesspeople; the tax declaration of individuals leasing property, of lottery, insurance or multi-level marketing agents; amends a number of articles relating to incomes liable to PIT, tax-exempt incomes, PIT on securities transfer, dossier and forms of PIT declaration, etc.

Accordingly, a businessperson who earns income less than VND 100 million/year are entitled to exemption of both VAT and PIT

If that person earns incomes from VND 100 million and more, he/she shall declare and pay VAT, PIT according to the tax rates upon revenue which are specified respectively as follows: Distribution, provision of goods (1% VAT and 0.5% PIT); Service provisions and construction exclusive of building materials (5% VAT and 2% PIT); Manufacture, transport, provision of services associated with goods, construction inclusive of building materials (3% VAT and 1.5% PIT); Other business lines (2% VAT and 1% PIT).

With respect to persons earning incomes from salary, wage, as from 2015, the expenditures on affairs of employees and their family shall be also exempted from PIT

This Circular comes into force from July 30th, 2015 and is applied to the tax period 2015 onwards.

The regulations on businesspeople paying flat tax using invoices of tax authorities shall be applied to tax periods from January 1st, 2015.

To annul Points b.2.2, b.2.3, and b.2.4 Clause 1 of Article 16; to annul Article 22 of Circular No. 156/2013/TT-BTCstatus1 dated November 6th, 2013.

To annul the regulations on VAT and PIT incurred by businesspeople specified in Article 16 and Article 21 of Circular No. 156/2013/TT-BTCstatus1 dated November 6th, 2013 of the Ministry of Finance.

To annul the regulations on PIT incurred by businesspeople provided in Article 7, Article 8, and Article 9 of Circular No. 111/2013/TT-BTCstatus2 dated August 15th, 2013;

To annul Point d Clause 6 Article 2 on PIT on casino prizes of Circular No. 111/2013/TT-BTCstatus2 .

Xem Văn bản hợp nhất số 05/VBHN-BTC ngày 14/3/2016.
Xem Văn bản hợp nhất số 14/VBHN-BTC ngày 15/5/2017.
Xem Văn bản hợp nhất số 15/VBHN-BTC ngày 9/5/2018.
Xem Văn bản hợp nhất số 68/VBHN-BTC ngày 19/12/2019.
Amendement notes
  • The contents “The flat tax payer suspends/shuts down the business shall send a notification to the tax authority at least one day before suspension or shutdown” provided in point 11.a Article 6 and forms No. 02/DK-NPT-TNCN, No. 02/TB-MST-NPT issued together with this Circular from August 12th, 2016 shall be abrogated. See the new regulations at Circular No. 95/2016/TT-BTCstatus1 dated June 28th, 2016.
  • Chapter I and Chapter II of this Circular shall be abrogated from August 1st, 2021according to the regulations at Circular No. 40/2021/TT-BTCstatus2 dated June 1st, 2021.
  • Clause 1 , clause 3, points a.1, a.2, a.3, a.4, b, c, d, and dd clause 3, clause 4, points b, c, d, and dd clause 6 Article 21, Article 22, Article 23, Article 24, Annex 02 and forms at this Circular shall be abrogated from January 1st, 2022, according to the regulations at Circular No. 80/2021/TT-BTC dated September 29th, 2021.
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Effective Date 30-Jul-2015
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 210

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