Tax and Finance Newsletter – March 2026

ACAC – Tax and Finance Newsletter, March 2026

Import Duty on Petroleum Reduced to 0%, Together with Specific Guidance on Tax Declaration Dossiers for Business Households

At Anh Consulting and Auditing Co., Ltd. (ACAC), we place strong emphasis on keeping pace with regulatory developments and providing accurate professional knowledge to help businesses make effective financial decisions, remain compliant, and adapt flexibly in a changing policy environment.

In March 2026, the Ministry of Finance continued to issue circulars providing detailed guidance on the conversion of business households to the declaration method, a matter first raised earlier in the year, while the Government sharply reduced the preferential import duty on a number of petrol and oil products. ACAC’s March 2026 newsletter summarizes the most notable updates to help enterprises and business households stay informed and adjust accordingly in a timely manner.

Tax Policy Guidance and Updates

Value-Added Tax (VAT) and Tax Declaration for Business Households

On 5 March 2026, the Ministry of Finance issued Circular No. 18/2026/TT-BTC prescribing the dossiers and procedures for tax administration of business households and business individuals in the context of their conversion to the declaration method. Under this Circular, a business household not subject to VAT and not required to pay PIT notifies its revenue using Form No. 01/TKN-CNKD; a household paying PIT under the method of a percentage applied to revenue uses Declaration Form No. 01/CNKD; and the dossier for PIT finalization under the method of taxable income multiplied by the tax rate uses Form No. 02/CNKD-TNCN-QTT. Notably, every business household currently in operation must send an Account/E-Wallet Number Notification (Form No. 01/BK-STK) to the tax authority: a household with revenue of VND 500 million or less must send it no later than 20 April 2026; a household with revenue above VND 500 million must send it together with its first tax declaration of 2026; and a newly established household must send it together with its revenue notification or its first tax declaration.

Corporate Income Tax (CIT)

Circular No. 21/2026/TT-BTC (effective from 17 March 2026) replaces Form No. 02/TNDN (applicable to real estate transfers arising on a per-transaction basis) and Form No. 05/TNDN (applicable to capital transfers by foreign enterprises) with new forms — enterprises engaging in these transactions should ensure they use the correct form when filing their declarations. On the principles for loss carry-forward, under Decree No. 320/2025/ND-CP, an enterprise may carry forward the entirety of its losses, continuously, against the taxable income of subsequent years, for a carry-forward period not exceeding 5 years from the year following the year in which the loss arose; any loss not yet fully carried forward after this period may not be carried forward further. An enterprise undergoing a change of type, division, separation, merger, or consolidation may continue to carry forward losses under the principles above, except that in the case of a division or separation, the loss is allocated in proportion to the owner’s equity apportioned to each resulting entity. In addition, on 12 March 2026 the Ministry of Finance issued Circular No. 20/2026/TT-BTC specifically prescribing the timing for determining taxable revenue for CIT purposes for a number of specific activities: for exported goods, this is the date on which ownership is transferred under the contract; for air transport, the time at which the service is completed; for construction and installation (including shipbuilding), the time of acceptance, irrespective of whether payment has been made; and for the supply of electricity and water, the date on which the meter reading is confirmed. For a foreign enterprise: a capital transfer is determined from the time the transfer contract takes effect; a transfer of securities or certificates of deposit is determined at the time of transfer; and a futures contract is determined at the time the order is matched or at the time of maturity.

Personal Income Tax (PIT)

Under Official Letter No. 1296/CT-NVT (4 March 2026) providing guidance on the 2025 PIT finalization for income from wages and remuneration, the cases in which an individual must finalize tax directly with the tax authority (and may not authorize another party to do so) include: an individual with income from two or more sources who does not meet the conditions for authorization; a foreign national who has completed their working contract in Vietnam, who must finalize tax before departure (or, if unable to do so in time, may authorize the paying organization); an individual with income from abroad or from international organizations, embassies, or consulates on which tax has not been withheld during the year; and an individual eligible for a tax reduction due to natural disaster, fire, accident, or a life-threatening illness. Individuals may use the eTax Mobile application to look up their income information and determine for themselves whether they fall within the category required to finalize directly.

Other Taxes

On customs procedures, the Customs Department continues to provide guidance on how to make declarations on the on-the-spot import/export declaration and on transactions between export-processing enterprises during the period in which the electronic system has not yet been upgraded to automatically confirm passage through the supervised area, in accordance with Circular No. 121/2025/TT-BTC. On land matters, Circular No. 21/2026/TT-BTC (17 March 2026) prescribes the dossier for exemption or reduction of land rental for agricultural, forestry, aquaculture, or salt-production land damaged by natural disaster or fire, comprising a request (Form No. 01/MGTH), a record determining the extent of the damage (Form No. 02/MGTH — which does not require confirmation from the local authority), and documentation evidencing any State support received (if any).

Reduction in Import Duty on Petroleum and Stronger Push for Non-Cash Payments

On 9 March 2026, the Government issued Decree No. 72/2026/ND-CP sharply reducing the preferential import duty rate to 0% for a number of categories of petrol, oil, and raw materials used in petroleum production, applicable from 9 March 2026 through to 30 April 2026: unleaded motor petrol and naphtha/reformate are reduced from 10% to 0%; diesel oil, fuel oil, aircraft engine fuel, and all types of kerosene are reduced from 7% to 0%; xylene, condensate, and p-xylene are reduced from 3% to 0%; and other cyclic hydrocarbons are reduced from 2% to 0%. This is a policy response to domestic petroleum price volatility, in line with the Government’s direction at its regular February 2026 meeting; after 30 April 2026, the duty rates will revert to those under Decree No. 26/2023/ND-CP unless a further extension is granted. In addition, on 6 March 2026 the Ministry of Finance issued Official Telegram No. 01/CD-BTC requesting localities to coordinate in promoting non-cash payments and the use of e-invoices generated from cash registers, in order to improve the effectiveness of tax administration in 2026, while continuing to support and provide guidance to business households during their conversion from the lump-sum (khoán) tax method to the declaration method from 1 January 2026.

Transparency – Updates – Partnership

Through its monthly newsletter, ACAC aims not only to deliver authoritative information but also to help enterprises and business households understand the practical impact of policy changes, enabling them to proactively adjust their financial strategies and risk management.

We believe that transparency, professional rigor, and timely updates form the foundation for the sustainable growth of Vietnam’s business community in this era of global integration.

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