revenue

The proposal to raise the revenue threshold for applying the simplified tax calculation method from 3 billion to VND 10 billion per year is drawing significant attention from many business households. For businesses with revenue in the range of a few billion VND, their goal is not only to reduce the amount of tax they owe but also to cut costs, simplify bookkeeping, and streamline procedures when fulfilling their tax obligations.

The government is preparing to submit a proposal to the National Assembly for consideration regarding a 30% reduction in income tax for the 2026–2027 period for households, self-employed individuals, and businesses with annual revenue of up to VND 10 billion, as well as raising the revenue threshold for determining the simplified tax calculation method.

Many tax authorities in provinces and cities across the country have just issued notices stating that July 31 is the deadline for taxpayers, business households, and others to promptly complete their filing, registration, and reporting procedures.