A series of important changes in new tax policies, with significant impacts on both businesses and individuals, took place in February 2025. This article will provide an overview of the latest changes, including the application of a new circular on tax registration, the abolition of the circular on corporate income tax incentives for environmental protection activities, and the cessation of tax exemption for small-value imported goods sent via express delivery.
It is important to stay up to date and understand these changes to ensure legal compliance and optimize financial operations. Join Bizzi to learn about the new tax policies that will take effect in February 2025!
1. New tax policy: Applying new Circular on tax registration
Circular 86/2024/TT-BTC will replace Circular 105/2020/TT-BTC and effective from February 6, 2025.
Circular 86 stipulates 13 cases where tax registration must be carried out directly with the tax authority; documents and procedures for first-time tax registration, procedures for changing tax registration information, procedures for terminating tax code activities, etc. At the same time, a series of new tax registration declaration forms and lists are issued for application.
Notably, this Circular stipulates that from July 1, 2025, personal identification numbers will completely replace tax codes for individuals, households, and business households. Specifically:
The personal identification number of a Vietnamese citizen issued by the Ministry of Public Security in accordance with the provisions of the law on identification is a 12-digit natural number sequence used instead of the tax code of an individual or a taxpayer.
The personal identification number of the household representative, business household representative, or business individual is also used in place of the tax code of that household, business household, or business individual.=>>Summary of the latest tax registration form according to Circular 86/2024/TT-BTC
2. Abolish the Circular on corporate income tax incentives for environmental protection activities
Circular 87/2024/TT-BTC Effective from February 10, 2025, Circular 212/2015/TT-BTC guiding corporate income tax (CIT) policies for environmental protection activities prescribed in Decree 19/2015/ND-CP detailing the implementation of a number of articles of the Law on Environmental Protection. Environmental Protection Law.
Accordingly, regulations on costs for product promotion activities, waste classification at source; corporate income tax incentives for new investment projects and specific incentives in Circular 212/2015/TT-BTC will no longer be applicable from February 10, 2025.
3. Stop tax exemption for small value imported goods sent via express delivery
In Decision 01/2025/QD-TTg, The Prime Minister has decided to completely abolish Decision 78/2010/QD-TTg on the value of imported goods sent via express delivery services that are exempt from tax.
Previously, in Article 1 Decision 78/2010/QD-TTg regulations:
– Imported goods sent via express delivery service with a value of 1 million VND or less are exempt from import tax and value added tax.
– Imported goods sent via express delivery service with a value of 1 million VND or more must pay import tax and value added tax according to the provisions of law.
Thus, from February 18, 2025 - the time Decision 01/2025/QD-TTg takes effect, imported goods worth VND 1 million or less sent via express delivery will no longer be exempt from import tax and value added tax.
Above is the new tax policy effective February 2025.
New tax policies coming into effect from February 2025 require constant attention and updates from taxpayers. Specifically, it is necessary to pay attention to the change in the circular on tax registration (Circular 86/2024/TT-BTC) and the use of personal identification numbers instead of personal tax codes from July 1, 2025.
In addition, the abolition of Circular 212/2015/TT-BTC on corporate income tax incentives for environmental protection activities (replaced by Circular 87/2024/TT-BTC) will also affect businesses in this field. Finally, the cessation of tax exemption for small-value imported goods sent via express delivery (according to Decision 01/2025/QD-TTg) will impact e-commerce transactions and individual imports. To ensure compliance and avoid legal risks, businesses and individuals should proactively study these new regulations carefully.
Source: luatvietnam.vn
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