New proposal on tax declaration, tax calculation and tax deduction for business households

Proposal to add new regulations on tax declaration and deduction for business households. Photo: Ngoc Le

The Ministry of Finance is seeking comments on the draft Law on Tax Administration (amended). According to Article 13 of the Draft Law, the provisions on tax declaration, tax calculation, and tax deduction for business households and business individuals are as follows:

- Business households and business individuals shall declare taxes for each type of tax monthly, quarterly, annually, each time tax obligations arise and when tax finalization is made. Tax authorities shall base on the management database to support business households and business individuals in declaring and calculating taxes.

- Business households and business individuals shall base on their annual revenue from production and trading of goods and services to self-determine whether they are subject to tax or not, in order to declare and calculate value added tax and personal income tax.

+ In case of self-determining that the annual revenue is not subject to tax according to the provisions of the law on tax, business households and business individuals must declare the actual revenue generated to the tax authority according to the provisions of the Government ;

+ In case of determining that the annual revenue is subject to tax, business households and business individuals shall, based on the actual revenue generated, determine the tax calculation method, the amount of value added tax and personal income tax payable according to the provisions of the law on value added tax and personal income tax.

- For other taxes and other revenues payable to the state budget, business households and business individuals shall determine the amount of tax payable in accordance with the provisions of tax laws and relevant laws.

- For households and individuals doing business on e-commerce platforms:

+ In case of business activities on an e-commerce platform with payment functions, the organization managing the e-commerce platform (domestic or foreign) is responsible for deducting, declaring and paying the tax payable on behalf of business households and business individuals.

+ In case of business activities on e-commerce platforms without payment functions, business households and individuals directly declare, calculate and pay taxes according to regulations.

- The Government shall detail this Article, including the method of calculating value added tax and personal income tax; records and procedures for declaring revenue, declaring taxes and paying taxes. The Ministry of Finance shall prescribe the accounting regime applicable to business households and business individuals.

Source: https://baoquangninh.vn/de-xuat-moi-ve-khai-thue-tinh-thue-va-khau-tru-thue-cho-ho-kinh-doanh-3373411.html