Instructions for declaring new online property rental tax in accordance with Vietnamese law
“Hello Lawyer, I have rented a house online. I don’t know how to declare tax? My friend pointed me to a certain website but I can’t remember which page it is. Tax declaration instructions How to rent a new property online? Why do I need to declare tax? Is it mandatory to declare tax? Please advise me. I would like to sincerely thank you.”. Thank you for your question. Today, when the country is promoting industrialization, more and more industrial parks are established, along with service shops opening crowded to serve. Along with that demand is the rental service for workers and service shops. Today, LSX Lawfirm will give you an article about “Instructions for declaring new online property rental tax in accordance with Vietnamese law”, as follows:
What is a Tax Return?
Tax declaration is the taxpayer’s presentation to the tax agency with data and records related to his tax obligations. The requirement of tax declaration is to submit all documents and vouchers specified in the tax declaration dossier and taxpayers need to fully and truthfully declare all contents according to the form prescribed by the Ministry of Finance. The accuracy and truthfulness of all information are the responsibility of the taxpayer.
Except for cases where tax obligations have been terminated, in addition, taxpayers still have to declare tax to the tax authorities according to the prescribed time limit. Whether the taxpayer is eligible for tax incentives, tax exemption or reduction, or does not incur tax obligations in the quarterly, yearly, or monthly tax period.
License tax and Value added tax when renting a house
Before instructing to declare rental tax online, we must first determine the cases where we are eligible to pay rental tax or not? Specifically, in the following cases:
Case 1: with a turnover of less than 100 million/year or from 8.4 million/month or less, you will not have to declare and pay tax and the tax office will not issue a single invoice.
Case 2: If the turnover is over 100 million/year or from 8.4 million/month or more, then you have to pay taxes: license tax, value-added tax, and personal income tax.
The license tax
The license tax is an important tax in guiding your online rental tax return, which is levied annually when you start a rental business. The specific tax rate depends on the revenue that the business brings, the tax rates are:
– Firstly, House rental revenue is over 500 million VND/year: 1,000,000 VND/year.
– Secondly, House rental revenue from 300 to 500 million VND/year: 500,000 VND/year.
– Thirdly, House rental revenue from 100 to 300 million VND/year: 300,000 VND/year.
In case you start your business in the second half of the year, ie from July 1, you only need to pay 50% of the annual fee. And you should remember that the turnover level to determine the eligibility for license tax exemption is the total revenue for calculating personal income tax according to the provisions of the law on personal income tax.
Value Added Tax (VAT)
In the guide to online rental tax declaration, value-added tax (VAT) is an important part that business people must understand:
Value-added taxable revenue when you run the rental business is tax-inclusive (if you are taxable). This revenue is the amount that the lessee must pay you each period under the rental agreement. And includes other revenues such as fines and compensation received by the lessor as agreed in the lease contract. VAT is calculated as follows:
Amount of VAT = Revenue subject to VAT * 5%.
New online property rental tax declaration guide
-After you get your account; The next thing is to make an online rental tax declaration. You continue to log in to the website: http://canhan.gdt.gov.vn/ and perform the following steps in turn:
Step 1: Select “rent property”; continue to choose “online declaration” and choose declaration “01/TTS – declaration for property leasing”.
Step 2: Click “Continue” and select the correct information that appears below.
And Step 3: Click “Continue” and enter the declaration data that appears.
Step 4: The applicant enters the criteria of statement 01/HT-TTS. Below is an appendix of the system to assist taxpayers in declaring.
Step 5: Click “continue” and switch to list 01/BK-TTS.
Step 6: Click “summarize the main declaration”; Enter data on the main declaration and click “Continue”.
Step 7: Click “complete declaration” and move to the step of submitting the declaration.
And Step 8: Select “submit declaration” and move to the Upload contract step.
Step 9: Click “continue”; Go to the Confirmation of declaration page.
And Step 10: Click “continue”; the system will send the OTP code to your phone number.
Step 11: Click “continue”; A status “You have successfully submitted your tax return” appears.
Online property rental tax return
In order to save time and effort, it is extremely necessary to prepare and complete the necessary documents for the online rental tax declaration. This document includes:
– House rental contract
– Identity card or notarized citizen identification card of the owner
– License fee declaration
– Property rental tax return
– Appendix according to form 01-1/BK-TTS
– Photocopy of Power of Attorney as prescribed by law (in case you authorize a legal representative to carry out tax declaration and payment procedures).
In addition to the instructions for online rental tax declaration, there is a tax payment deadline that taxpayers should note as follows:
According to the law, in case you rent a house and file a tax return once a year, the latest deadline to submit your application is after 90 days from the end of the calendar year (usually on the 31st day of the year). /3). This is an important point in the online rental tax return guide to avoiding penalties for late payment.
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Related questions
This part of the revenue is the part of your rental income, not your other revenue. And if you rent a house with a turnover of over 100 million/year or from 8.4 million/month or more, you must pay tax.
You must have a photocopy of the power of attorney for the legal representative in accordance with the law.
Method 1: Register for an electronic tax transaction account directly through the website of the General Department of Taxation. Method 2: Register transactions electronically through the portal of the competent state agency connected to the portal of the General Department of Taxation.
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