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The Government proposed raising the revenue threshold exempt from tax for business households from 200 million VND (over 7,580 USD) to 500 million VND per year.
The draft Law on Tax Administration plans to cut 96 administrative procedures, or 44% of the current total, and simplify 63 others. It spotlights a clear direction toward completely abolishing lump-sum taxation for household and individual businesses from 2026, while creating a favourable legal framework for these entities to transition into enterprises.
Continuing the agenda of the ongoing 9th session, the National Assembly (NA) on June 17 is set to vote on a law amending and supplementing some articles of the Law on Enterprises and a resolution on the reduction of value-added tax (VAT).A legislator comments on a draft law at a plenery of the National Assembly's ongoing 9th session. (Photo: VNA)
The Law on the Value Added Tax was adopted at the 8th session of the 15th National Assembly (NA) in Hanoi on November 26 and is set to come into force in July next year. NA deputies vote to pass the Law on Value Added Tax. (Photo: VNA)
