From 2026, many new regulations on taxes and accounting will officially apply to business households and individual businesses. In which, groups of households with revenue of less than 500 million VND/year - even if they do not have to pay taxes - still need to comply with some important obligations. If subjective, not complying with regulations, business households can still be administratively sanctioned.
Revenue under 500 million VND is not subject to tax
On December 10, 2025, the National Assembly passed the Law on Personal Income Tax (amended) with 4 chapters, 30 articles. A noteworthy new point is raising the tax-exempt revenue threshold to 500 million VND/year, and at the same time allowing deduction of this revenue level before tax calculation according to the ratio on revenue.
In parallel with that, the revenue level not subject to value-added tax (VAT) is also adjusted correspondingly to 500 million VND/year.
Thus, from 2026, business households and individuals with annual revenue of less than 500 million VND will not have to pay VAT and personal income tax (PIT). However, "not having to pay tax" does not mean "not having to fulfill accounting and declaration obligations".
Revenue below 500 million still has to be recorded in the accounting books
According to Article 4 of Circular 152/2025/TT-BTC of the Ministry of Finance, business households and individuals who are not subject to VAT and are not required to pay PIT are still required to record their accounts from 2026.
Specifically, business households must use the Sales Book of goods and services (model number S1a-HKD) to record generated revenue.
This book is opened to:
Recording revenue from selling goods and services; Is a basis for determining whether business households are still not subject to tax or have exceeded the threshold of 500 million VND/year; Serving the comparison of data with tax authorities when necessary.
How to record the revenue book correctly?
Circular 152/2025/TT-BTC specifically guides the method of recording Book S1a-HKD as follows:
Column A: Record the date and month recorded in the book.
Column B: Recording the revenue from selling goods and services. Business households can record according to each occurrence or record together according to days, weeks, and months.
Column 1: Enter the corresponding revenue amount.
Bookkeeping must ensure honesty, completeness, and accurate reflection of actual revenue. This is an important basis for determining tax obligations when revenue fluctuates.
Revenue must be notified to tax authorities before January 31st every year
Another new point that business households need to pay special attention to is the obligation to notify revenue.
According to the Draft Decree regulating the declaration, calculation of taxes, and use of electronic invoices for business households and individual businesses (second time), the Government proposes:
In case business households self-determine annual revenue from 500 million VND or less, they must notify the actual revenue arising in the year to the tax authority no later than January 31st every year.
In case the revenue is over 500 million VND, business households must self-determine and fully fulfill their VAT and PIT obligations according to regulations.
If using electronic invoices or electronic invoices generated from cash computers, the tax management system will automatically support the preparation of tax returns.
In case of not using electronic invoices, business households must determine the amount of tax to be paid themselves.
Thus, even if they are not subject to tax, not notifying revenue on time may still be penalized according to tax management regulations.
Do not pay taxes but must not "ignore" regulations
Tax experts recommend that from 2026, business households with revenue below 500 million VND need to pay special attention to 3 basic obligations: recording revenue books - closely monitoring revenue levels - notifying tax authorities on time.
Full compliance with these regulations not only helps business households avoid being penalized, but also creates a transparent and favorable foundation if business scale expands and tax obligations arise in the following years.
