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Circular 302/2016/TT-BTC date 15/11/2016 about Guidance on business license tax

On 15 November 2016, Ministry of Finance issued Circular 302/2016/TT-BTC to guide the fees and charges of business license tax. Accordingly, there are some remarkable modifications:

- Business license tax exemption:

  1. Individuals, group of individuals and business households in field of manufacturing and trading, would be exempt from paying business license tax, if the annual turnover is VND 100 million or less. This amount of VND 100 million or less per year is total gross revenue of personal income tax under the PIT law.
  2. All companies, organizations or individuals operate irregularly in field of manufacturing and trading and have no stable place of business.

-  The level of business license tax charges:

1. For organization of production and business of commodities and services:

  • Enterprises with a registered capital of over VND 100 billion have to pay a business license fee of VND 3 million per year.
  • Enterprises with a registered capital of under VND 100 billion have to pay a business license fee of 2 million VND per year.
  • Branches, representative offices, stores of such enterprises and other economic entities would have to pay VND 1 million per year.

2. For individuals, group of individual and business households which manufacturing and trading commodities and services:

  • Individuals, group of individual and business households with an annual turnover of over VND 500 million would have to pay VND 1 million per year.
  • Individuals, group of individual and business households with an annual turnover from over VND 300 million to 500 million would have to pay VND 500.000 per year.
  • Individuals, group of individual and business households with an annual turnover from over VND 100 million to VND 300 million would have to pay VND 300.000 per year.

-  Deadline of paying business license tax charges is no later than 30th January of the year. If organizations set up new business establishment or provide new production and business activities, the deadline of paying business license tax charges is the last day of submitting the dossier for BLT declaration as prescribed in Clause 1, Article 5 of Decree No. 139/2016/ND-CP of the Government regulations dated 04.10.2016 about business license tax charges.

This circular has taken effect from 01 January 2017.