How are input invoices for individual business households regulated? Are business households required to declare input invoices?
Input invoices are also known as purchase invoices. For businesses such as manufacturing, construction, distribution, etc., input invoices arise quite a lot and play an important role in the deductible tax of the business. So for individual households, do input invoices have a big impact on the business picture? What are the regulations on the use of input invoices for individual business
households Follow the article below to read
useful information about input invoices for business households.
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Do businesses need to use input invoices?
Cases where individual business iran telegram data households do not need to use input invoices
Firstly, goods and services in the product group do not require input invoices.
Second, when purchasing goods or services with an order value of less than 200,000 VND
Regulations on penalties for cases of not having input invoices when purchasing goods and services
Do businesses need to use input invoices?
According to Clause 1, Article 79 of Decree 01/2021/ND-CP: “ A business household is registered by an individual or household members best practices for an effective content strategy and is responsible for all of their assets for the business activities of the household. In case household members register a business household, they will authorize one member to represent the business household. The individual registering the business atb directory household, the person authorized by the household members to represent the business household is the owner of the business household”
Sole proprietorships have the following characteristics
Small business scale
Input and output management based on personal experience with little application of technology software
Working capital, profit to rotate investment
Not focusing on financial ratio management
Therefore, many business households often do not use input invoices when purchasing goods for accounting purposes. In fact, individual business households are only not allowed to issue sales invoices like business units. However, input invoices still need to be declared.
This means that individual business households
are still required to have input invoices to explain financial figures when selling and purchasing goods for business activities and trading services to the tax authorities.
Cases where individual business households do not need to use input invoices
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Pursuant to Circular No. 78/2014/TT-BTC issued by the Ministry of Finance on June 18, 2014: in the following two cases, business households do not need input invoices to declare taxes
