Vietnam Clarifies Tax Obligations for Individuals, Households Engaged in Software, Tech Businesses

The Vietnamese Government Aug. 20 clarified individual income tax and VAT rules for individuals and households engaged in software or technology business activities. The clarification includes that: 1) entities and individuals must register for tax under the one-stop mechanism along with business or cooperative registration, or must register for tax directly with the tax authority if they don’t meet specific requirements; 2) the declaration method applies to large-scale business households and individuals, and is optional if the large-scale requirement isn’t met; 3) individuals with income from digital information products and services who don’t opt to pay tax under the declaration ...