Individuals renting out properties with annual revenue of 1 billion VND or below are required to take two important steps before July 31. This notification is necessary even though they are exempt from value-added tax and income tax under the new regulations established by Decree 68 of 2026, which was amended by Decree 141 of 2026.

According to the tax authorities in various localities, including Thai Nguyen, Bac Ninh, and Hanoi, individuals must inform the tax office about their revenue and provide their bank account or electronic wallet details. This notification can be done either once a year or twice a year, with the first deadline being July 31 and the second being January 31 of the following year.

For individuals renting out multiple properties, additional documentation is required. They must complete a supplementary schedule detailing the properties using Form 01/BK-BDS, as specified in Circular 18 of 2026. The notification can be submitted electronically via the eTax Mobile application or through the tax service portal. However, individuals who are elderly, disabled, or facing significant economic challenges may submit their documents in person or via postal service.

Moreover, as of July 1, 2026, under Decree 254, individuals and households engaged in property rental are not required to use electronic invoices, regardless of their revenue level. This change is aimed at reducing the burden on taxpayers.

Experts have noted that this new regulation clarifies previous guidelines regarding electronic invoicing, which was primarily governed by Decree 123 of 2020. Under the new rules, businesses with annual revenue exceeding 1 billion VND must utilize electronic invoices linked to the tax authority's system, while those with lower revenue are exempt.

Overall, these changes are designed to streamline the tax reporting process for individuals renting properties and to alleviate the administrative burden associated with electronic invoicing.