Ministry of Finance proposes accounting regulations according to three revenue groups for business households

Photo caption — Tax officers from the 2nd Tax Department ( Can Tho City Tax) help business households in Cai Rang ward self-declare revenue and self-pay taxes. Illustrative photo: Thu Hien/VNA

The draft Circular proposes guidance on accounting for business households and individual businesses. Business households and individual businesses with annual revenue of over 3 billion VND shall perform accounting according to this guidance or according to the micro-enterprise accounting regime.

According to the draft, the representative of a business household or individual business can keep accounting books himself or herself or arrange for an accountant or hire an accounting service for the business household or individual business. The representative of a business household or individual business can arrange for his or her biological father, mother, adoptive father, adoptive mother, wife, husband, biological child, adopted child, brother, sister to be the accountant for the business household or individual business or arrange for a manager, executive, warehouse keeper, treasurer, or person assigned to regularly purchase and sell assets to concurrently be the accountant for the business household or individual business.

The Ministry of Finance said that the current draft Circular is being developed on the basis of closely following the draft Law on Tax Administration, the draft Law on Personal Income Tax and the draft Decree regulating tax management for business households and business individuals that the Ministry of Finance is developing, and at the same time, there are additional instructions on a number of hypothetical cases that may arise regarding tax policies for business households and business individuals.

According to the draft, business households and individuals will apply accounting regimes according to 3 revenue groups and tax payment methods.

For the group with annual revenue of 200 million VND or less, business households must use a detailed book of sales revenue of goods and services according to the form to record all generated revenue. This is the smallest scale group, to ensure minimum recording obligations for tax management.

For groups with revenue from 200 million VND to 3 billion VND per year, the accounting regime is applied in 2 cases, depending on the method of paying value added tax and personal income tax. Specifically, in the case of paying these taxes as a percentage of revenue, business households use sales invoices and accounting books. In the case of paying value added tax by the deduction method and personal income tax as a percentage of revenue, accounting documents include value added invoices, sales invoices and accounting books.

For business households and individuals with annual revenue of over VND 3 billion, the draft also stipulates two cases corresponding to the tax payment method. If paying value added tax as a percentage of revenue and personal income tax on taxable income, the set of accounting documents includes value added tax invoices, sales invoices, lists of purchased goods and services in cases of sales without value added tax invoices or sales invoices, along with accounting books. If paying value added tax by the deduction method and personal income tax on taxable income, business households must use value added tax invoices, sales invoices, lists of purchased goods and services in cases of sales without value added tax invoices/sales invoices, and accounting books.

The draft also adds provisions for business households and individuals engaged in property leasing or e-commerce activities. If these entities pay value added tax as a percentage of revenue and the amount of personal income tax payable is determined by multiplying the tax rate by revenue, they will use standard accounting books as a basis for determining tax obligations to the state budget. In cases where business households and individuals engage in activities subject to other specific taxes, the draft requires the use of additional standard accounting books to track specific tax obligations to ensure full recording and management of arising tax obligations.

It is expected that the Circular will take effect from January 1, 2026, along with the provisions of tax law on business households and business individuals.

Source: https://baotintuc.vn/kinh-te/bo-tai-chinh-de-xuat-quy-dinh-ke-toan-theo-ba-nhom-doanh-thu-cho-ho-kinh-doanh-20251118103015629.htm