[TAX UPDATE] Regulations on Tax Registration Replacing Circular 105/2020/TT-BTC

 

On December 23, 2024, the Minister of Finance issued Circular 86/2024/TT-BTC, which regulates tax registration and replaces Circular 105/2020/TT-BTC.

The key changes are as follows: 

Changes in Tax Code Structure:

Effective July 1, 2025, personal identification numbers will replace tax codes for individuals, households, and business households. The personal identification number of the household representative, business household representative, or individual business owner will also replace the tax code for that household, business household, or individual business. 

Data Synchronization:

New regulations have been added to utilize data from the National Population Database System to synchronize tax registration information. 

Tax Registration Procedures:

The circular introduces updated procedures for tax registration applicable to business households, business individuals, households, and individuals. It also includes changes to tax registration forms to align with the new regulations. 

The circular will take effect on February 6, 2025, with the exception of the application of personal identification numbers instead of tax codes, which will be implemented from July 1, 2025.