TAX-LEGAL
Many people believe that if their total annual revenue from renting out assets is less than 100 million VND, they are not required to register for taxes as it does not fall under the categories of personal income tax, value-added tax, or license tax. However, in reality, from the day you sign a rental contract for your assets, you must go through the tax registration process with the relevant government agency within a specified period. Tax registration is mandatory before determining whether you are liable to declare and pay taxes and fees for renting out assets.