The government submitted a draft Law on Small Business Development to the National Assembly on October 17, proposing that individual businesses with revenue of up to VND 10 billion may choose to pay tax on revenue or on income. Lê Văn Tuấn, director of Keytas Tax Accounting Co., said this would cut compliance costs for households with revenue of VND 3-10 billion, as they would only need to keep an S2a-HKD revenue book and declare sales. He proposed applying the threshold from 2026 rather than 2027, as some National Assembly deputies suggested, because starting in 2027 would skip 2026. He said a transition period of at least 1.5-2 years is needed for a major tax change. He noted that in 2026, businesses only declare and prepay tax as a percentage of revenue each quarter, so early application would not affect current policy.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Hộ kinh doanh thu đến 10 tỷ đồng có thể được nộp thuế theo doanh thu: Chuyên gia kiến nghị áp dụng ngay từ năm 2026
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VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/19/2026 | 1,689.84 |
| Change that session | -0.94% |
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Related news
- Household businesses with revenue of up to VND 10 billion may pay tax based on revenue
The government has proposed letting individuals and household businesses with revenue of up to VND 10 billion choose to pay tax on revenue at rates of 0.5% to 5% depending on the sector, instead of only those under VND 3 billion as now. According to the Ministry of Finance, only 0.14% of the country's 2.7 million household businesses have revenue above VND 10 billion, so 99.86% would be able to choose the simpler method. Businesses with annual revenue of up to VND 10 billion would also be offered a similar choice. The Committee on Economic and Financial Affairs argued that many tax provisions in the draft SME Development Law overlap with existing laws and proposed moving them to a bill amending 3 tax laws, while delegate Nguyễn Ngọc Sơn asked that the rules apply from the 2027 tax year to avoid retroactivity. Earlier, on August 24, the National Assembly passed a resolution cutting personal income tax and corporate income tax by 30% for those with revenue of up to VND 10 billion, with 96% of delegates in favour.
- Proposal Says 'One-Person Enterprises' Need Not Have a Chairman or Chief Accountant
A draft Law on the Development of Small and Medium Enterprises, presented to the National Assembly on Oct. 17 by Finance Minister Ngô Văn Tuấn, proposes that 'one-person enterprises' (single-member LLCs owned by an individual) not be required to have a company chairman or chief accountant, to cut costs after converting from household businesses. The draft also proposes shortening registration time, exempting some initial fees, and raising the revenue threshold for the simplified tax method to 10 billion VND per year. SME criteria would be based on average annual employee numbers, capped at 300 workers, 400 billion VND in revenue and 150 billion VND in total capital. The Economic and Finance Committee said these criteria fluctuate yearly and are hard to apply, proposing data from the two to three preceding years, and flagged that setting aside 20 hectares per zone or 5% of land area may be hard to implement.
- Proposal to raise revenue threshold for defining small and medium enterprises to VND 400 billion
The Government has proposed raising the annual revenue threshold for defining small and medium enterprises to VND 400 billion, up VND 100 billion from current law, in a draft Law on SME Development presented to the National Assembly by Finance Minister Ngô Văn Tuấn. The draft also sets a criterion of no more than 300 average annual employees, replacing the current 200 social-insurance-enrolled workers, and total capital of no more than VND 150 billion. The group would get a lower corporate income tax rate, a 3-year corporate income tax exemption from the first business registration certificate, and simplified accounting and tax procedures for micro enterprises. The National Assembly's Economic and Financial Committee said the criteria change every year and are hard to apply, and recommended using data from the previous 2-3 years. The National Assembly is expected to adopt the law on November 20.
- Plan to raise the revenue threshold for defining small and medium enterprises to VND 400 billion
The government proposes raising the annual revenue threshold for defining small and medium enterprises to VND 400 billion, up VND 100 billion from current law, and the capital threshold to VND 150 billion. The workforce criterion would be replaced by an average annual workforce of no more than 300 people. The draft Law on Development of Small and Medium Enterprises, submitted to the National Assembly by Finance Minister Ngô Văn Tuấn on October 17, proposes a lower-than-standard corporate income tax rate, a three-year corporate income tax exemption from the first business registration certificate, and simpler tax calculation methods for businesses and individuals with annual revenue up to VND 10 billion. The National Assembly's Economic and Financial Committee agrees a new law is needed to replace the 2017 law, but says the criteria are impractical because they fluctuate yearly and depend on prior-year financial statements, and recommends using data from the two to three preceding years. The National Assembly will debate the draft on October 30 and vote on adoption on November 20.
- Three-year corporate income tax exemption for small and medium enterprises: Reducing cost burdens, boosting competitiveness
The Ministry of Finance has proposed, in the draft Law on Development of Small and Medium-sized Enterprises, a three-year exemption from corporate income tax starting from the date a business is first issued its business registration certificate, as firms often invest heavily in this period while revenue and profit remain unstable. The policy is expected to let businesses retain earnings for reinvestment and expansion. The draft also proposes lower-than-standard corporate income tax rates for micro and small enterprises, simpler tax and accounting procedures for micro enterprises, and support for access to capital, technology, digital transformation and markets. National Assembly deputy Nguyen Van Huy urged careful consideration, with clearer targeting, conditions, and measures against splitting firms to claim benefits, while economist Nguyen Tri Hieu said the outcome depends on whether firms reinvest the savings.
- Small businesses are set to capture a record $118 billion this holiday season
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