New Regulations Leave Many Household Businesses in a State of Confusion
As previously informed, Decree 70/2025/ND-CP came into force on June 1st, according to which household businesses with an annual revenue of VND 1 billion or more will no longer be subject to the lump-sum tax method. These businesses must switch to using e-invoices from cash registers, directly connected to the tax authority.
In addition, according to Resolution 68 of the Political Bureau, by the end of 2026, household businesses will officially terminate the lump-sum tax mechanism, replacing it with self-declaration and tax payment based on actual revenue.
This new policy is considered a turning point in the development of the private economy and is expected to promote more transparent and accurate revenue reporting for household businesses. However, the new regulations have also caused confusion and concern among many retail store owners and restaurant owners.
P.V., a 32-year-old online business owner from Ho Chi Minh City, with an annual revenue of VND 3-4 billion, shared that although the regulation has been issued for quite some time, she only recently started to truly understand and find ways to adapt. “Under the lump-sum tax method, household businesses were not required to have a complex accounting system. But with the new regulation, revenue from sales must be fully recognized and connected to the tax authority. Now, we have to purchase cash registers, and many store owners, including myself, are unsure how to use them correctly according to the new rules.”
Ms. L.T., a 56-year-old restaurant owner in Ho Chi Minh City, also expressed concern as she is not familiar with using technological products. She worries that monitoring revenue, storing invoices, and checking transactions on a cash register may be too complicated for her.
Currently, there is a large number of small household businesses in Vietnam, contributing significantly to the economy. Therefore, it is crucial to quickly find solutions to help these businesses adapt to the new regulations.
Key Solutions for Household Businesses
Notably, to support household businesses, some banks have quickly stepped up to offer solutions. For instance, BVBank is providing a comprehensive solution for Digistore sellers, designed for sellers of various scales, including medium, small, and large-scale businesses, restaurants, and retail stores. This is an invoice management software integrated with electronic invoices.
With this system, store owners and household businesses can issue valid electronic invoices immediately after payment, ensuring compliance with tax regulations. Additionally, customers can store and retrieve invoices anytime, anywhere, on their phones or computers.
The system also enables real-time revenue and transaction management, even on holidays and weekends, along with fast payment receipt and transaction status tracking. Notably, Digistore integrates diverse payment methods, including QR codes, bank cards, and cash, all managed on a single platform.
What sets Digistore apart is its convenience and superior integration. Unlike some other systems that require separate software, Digistore has a built-in electronic invoice system without the need for intermediary software, automatically generating and sending electronic invoices to the tax authority.
The PaySound machine is a particularly popular feature, announcing transaction amounts acoustically within one second, ensuring professionalism and accuracy for store owners. Business owners can instantly view revenue reports and check the status of funds transferred to their accounts directly from the system, whether accessing it via phone or another device.
Furthermore, to encourage and facilitate customers, BVBank is offering special promotions for household businesses using Digistore. BVBank customers will receive a comprehensive solution at a discounted price, along with on-site installation support and guidance from a dedicated team. The bank is also offering Digistore services free of charge until the end of September 2025, providing an opportunity to experience the comprehensive digitalization solution without cost concerns.
Decree 70/2025/ND-CP marks a turning point in promoting the digital transformation of household businesses, but it also brings challenges. Complying with the new regulations is essential for store owners to manage their business operations more professionally, transparently, and efficiently. With the support of banks, such as through Digistore, this transition can be smoother, faster, and easier.
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