With just over 10 days left before the transition from presumptive tax to declaration-based tax, Le Van Tuan, Director of Keytas Accounting and Tax Consulting, offered suggestions to help business households deal with inventory during the transition period.

The first step for business households is to establish clear principles for classifying goods. First, goods should be classified based on invoices and supporting documents. Accordingly, inventory is divided into two groups.

The first group consists of goods with complete invoices and documents as required by regulations. For this group, cost accounting, proving the origin of goods, and entering data into software for sales and issuance of electronic invoices can be done smoothly.

The second group includes inventory that lacks invoices or has incomplete documentation. For this group, determining reasonable costs will be more difficult, but business households are still required to issue invoices when selling the goods. When tax authorities or market management agencies inspect the origin of goods, business households must be honest in their explanations.

Second, goods should be classified based on the criteria of genuine versus counterfeit goods. In addition to genuine goods lacking invoices or documents, there is in reality a considerable amount of counterfeit, harmful, or origin-unknown goods. If not strictly controlled, there is a high risk of legitimizing the origin of such goods when issuing invoices, posing risks to consumers.

Therefore, business households need to classify goods into two groups. Genuine goods should continue to be divided into those with or without invoices and documents for normal sale in the coming period. Counterfeit or harmful goods should be handled and destroyed.

Tuan stressed that a written commitment of honesty to tax authorities or market management agencies does not carry legal value, but serves as a reminder of the responsibility of business households. In cases where genuine goods are sold without invoices or documents, this is not considered a violation.

After preparing, business households need to carry out specific steps.

First, conduct a full inventory count as of December 31, 2025. The inventory must clearly record the name of goods, unit of measurement, quantity, value, and condition, and be documented in a written record with signatures for confirmation and careful storage.

Based on the inventory record, business households need to prepare a list of goods to be entered into the software system to serve normal sales activities from 2026 onward. The inventory record serves as a basis for internal cost-of-goods tracking and for explanation when necessary.

For goods with large value, business households should use professional valuation services. Valuation results will serve as the basis for accounting records and be included as reasonable expenses.

He said that business households need to form the habit of obtaining input invoices when purchasing goods, expenses, tools, equipment, or assets for business activities. This not only helps prove the origin of goods but also benefits the determination of tax obligations based on actual profits.

The Law on Tax Administration 2019 stipulates that business households are only required to notify the bank account used for paying taxes electronically.

However, in the draft decree regulating tax declaration, calculation, withholding and payment, and the use of electronic invoices for business households and individual business operators, the Ministry of Finance proposes that business households and individual business operators must notify tax authorities of all bank accounts related to production and business activities.

The draft decree also clearly states other rights and responsibilities of business households and individual business operators, such as the obligation to self-declare fully and accurately all arising revenue to determine tax obligations in accordance with regulations.

At the same time, they are responsible for using and providing accounting books, invoices, sales management software, and related documents when requested for inspection by tax authorities.

For business activities conducted on e-commerce platforms, the draft requires resident households and individuals to declare and pay taxes such as special consumption tax, environmental protection tax, natural resources tax, environmental protection fees, and other revenues payable to the state budget that are managed and collected by tax authorities in accordance with tax and tax administration laws.

In addition, individuals and business households conducting business on e-commerce platforms must provide complete and accurate identification information, including tax identification number or personal identification number for Vietnamese citizens; passport number or identification information issued by foreign authorities for individuals who are foreign nationals.

Nguyen Le