Resident taxpayers must pay monthly 1% PTP on monthly turnover inclusive of all taxes, except VAT. The PTP must be paid by the 25th day of the following month. The PTP can be used to offset against the annual TOP or MT liability, whichever is higher.

The following entities are exempt from paying the 1% PTP:

  • QIP industry during the Tax Holiday Period
  • Any legal entities which purchase and cultivate paddy rice, and produce milled rice for exportation during the tax incentive period
  • Non-for-profit organization recognized by MEF