The Ministry of Finance has just submitted a report to the Government on the proposal to develop a draft Law on Tax Administration (replacement).

According to this agency, by the end of December 2024, the total number of business households and individual businesses will be 3.6 million, equal to 106% of the total number of business households and individual businesses in 2023.

The total number of stable business households (contracting households and declaring households) is 2.2 million households, equal to 104% of the total number of stable business households in 2023. Of which, the number of households subject to tax, that is, with revenue greater than 100 million VND/year, is 1.3 million households (accounting for 59%).

Revenue from business households and individual businesses to the state budget in 2024 is 25,953 billion VND, an increase of 20% compared to the revenue from business households and individual businesses in the same period in 2023 of 21,638 billion VND.

bank money 1.jpg
The Ministry of Finance has just submitted a report to the Government on the proposal to develop a draft Law on Tax Administration (replacement). Photo: Nam Khanh

Meanwhile, the number of households paying lump-sum tax is 2.15 million households (of which 1.22 million households pay tax with the average lump-sum tax nationwide being 686,000 VND/month/household). The number of households paying tax by declaration method is 84,499 households with the average tax payable nationwide being 3.29 million VND/month/household.

Regarding business household data, in 2025, there will be 1,829,920 business households with revenue of less than VND500 million/year. The total tax that these households are expected to pay in 2025 is VND5,551 billion.

Regarding data on business households with large revenues, the Ministry of Finance said that in 2024, there will be 860 business households with revenues of 30 billion VND or more (including 121 contracted households and 739 declared households), mainly concentrated in areas of region I (226 households), region II (140 households), region IV (77 households), region XV (46 households), region XVIII (50 households), region XVI (46 households).

Notably, there are 5 households declaring revenue of over 200 billion VND/year. Of which, the NTMT business household retailing fresh seafood, located at the Tax Department of Region XI, has revenue in 2024 of nearly 560 billion VND. The D.TO business household wholesaling food, located at the Tax Department of Region III, has revenue in 2024 of nearly 360 billion VND. Three other business households also have revenue of over 200 billion VND in 2024.

In 2025, the entire tax sector will record 653 business households paying lump-sum tax with annual revenue from the revenue threshold of micro-enterprises or higher, which are subject to switching to tax payment by declaration method.

Specifically, there are 221 business households in the agricultural, forestry, fishery and industrial and construction sectors, with revenue of over 3 billion VND/year, concentrated in some tax branches in regions XIX, II, XVII, XX...

There are 430 business households in the trade and service group with revenue of over 10 billion VND/year, concentrated in some tax branches in regions II, XX, XIII, XVII...

According to the Ministry of Finance, the conversion from individual business households to enterprises is an opportunity for these households to expand their scale, improve their competitiveness, increase their access to capital and contribute more to the overall development of the locality.

Business households switch from paying lump-sum tax to declaring: 7 things to know Below are instructions for business households to switch from paying lump-sum tax to declaring method in a simple and accurate way from Tax Department of Region II.

Source: https://vietnamnet.vn/co-ho-kinh-doanh-dat-doanh-thu-gan-560-ty-dong-nam-2411713.html