On October 11, 2021, the Ministry of Finance issued Circular No. 88/TT-BTC guiding the accounting regime for business households and individuals. Some of the prominent regulations are as follows:
SUBJECTS OF APPLICATION
- Subjects of application of this Circular are business households and individuals that pay tax according to the method of declaration according to the provisions of tax law.
- Business households and individuals that are not required to comply with the accounting regime but wish to implement the accounting regime under this Circular are encouraged to apply.
BUSINESS HOUSEHOLDS CAN CHOOSE ACCOUNTING MODE
According to Clause 2, Article 3, business households and individuals shall comply with the accounting regime guided in this Circular or may choose to apply the micro-enterprise accounting regime to suit their management needs and specific characteristics. points of production and business activities of business households and individuals.
BUSINESS HOUSEHOLDERS DECISION ON PERSONS TO BE ACCOUNTANT
The arrangement of accountants of business households and individuals shall be decided by the representative of the business household or business individual. The representative of a business household or business individual may arrange his or her biological father, mother, adoptive father, adoptive mother, wife, husband, biological child, adopted child, brother, sister or younger brother as accountant for the household. business people, business individuals or appointing people to act as managers, executives, storekeepers, cashiers, people who are assigned the task of regularly buying and selling assets to concurrently act as accountants for business households and individuals. .
NEW LIST OF ACCOUNTING DOCUMENTS
According to the Circular’s provisions, business households and individuals shall apply accounting vouchers according to the following list:
– Documents according to Circular No. 88/2021/TT-BTC include:
+ Receipt slip: Form No. 01-TT;
+ Payment slip: Form No. 02-TT;
+ Warehouse receipt: Form No. 03-VT;
+ Ex-warehousing note: Form No. 04-VT;
+ Table of payment of wages and other incomes of employees: Form No. 05-LDTL.
– Other documents prescribed by law:
+ Invoices;
+ Payment slip and state budget;
+ Debit note, Credit note of the bank;
+ Authorization.
Circular No. 88/2021/TT-BTC takes effect from January 1, 2022.
Details can be found in the attached file.
Circular file: https://www.mediafire.com/…/FAT_Audit_TT_88_2021…/file
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