Individual properties leasers who do not generate revenue for the whole 12 months in a calendar year and have an average monthly revenue of VND 8.34 million or less are not required to make a tax declaration

On July 19^th, 2021, the General Department of Taxation issued Official Letter No. 2626/TCT-DNNCN, whereby: In case that individual properties leasers do not incur revenue for a full 12 months in a calendar year and their average monthly revenue does not exceed 8.34 million, they shall be exempted from making any tax declaration. On the other hand, even when individual properties leasers do not incur revenue for a full 12 months in a calendar year, if their average monthly revenue is greater than 8.34 million, they will have to make the tax declaration and payment even if the individual chose to make annual tax declaration and submits tax dossiers before December 31st of the tax year.