OFICIAL LETTER 1834/TCT-TNCN DATED 04 MAY 2016 OF GDT GUIDING TAXABLE REVENUE FOR ASSETS LEASING INDIVIDUALS
According to official letter 1834/TCT-TNCN:
In case, assets leasing individuals that total revenue in a calendar-year less 100 million VND will not have to declare VAT and PIT, including the leasing duration in the contract less 12 months of a calendar year.
Tax authority does not grant individual invoice to households, individuals who have assets for hire including revenue more 100 million VND/year. Enterprises leasing assets from individuals, the files to determine deductible expense is asset leasing contract, payment voucher and voucher paying tax on behalf of the individual (if lessee is the party paying tax on behalf of taxpayer), must not prepare form 01/TNDN in Circular 78/2014/TT-BTC. For households, individuals have assets leased by State authority and requires to grant invoices, tax authority still grants individual invoices as regulations.
