The profits of private enterprises are specified in Clause 3, Article 2 Circular 111/2013/TT-BTC (amended by Clause 6, Article 11 Circular 92/2015/TT-BTC) as follows:

Taxable income

According to the provisions of Article 3 of the Law on Personal Income Tax and Article 3 of Decree No. 65/2013/ND-CP, income subject to personal income tax includes:

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3. Income from capital investment

Income from capital investment is personal income received in the form of:

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c) Profits received from capital contributions to limited liability companies, partnerships, cooperatives, joint ventures, business cooperation contracts and other forms of business according to the provisions of the Enterprise Law Industry and Cooperative Law; Income received from contributing capital to establish a credit institution according to the provisions of the Law on Credit Institutions; Contribute capital to Securities Investment Funds and other investment funds established and operating in accordance with the provisions of law.

Income from private enterprises and single-member limited liability companies owned by individuals is not included in taxable income from capital investment.

d) The increase in the value of contributed capital received when dissolving the enterprise, converting the operating model, dividing, separating, merging, consolidating the enterprise or when withdrawing capital.

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According to the above regulations, profits of private enterprises are not included in personal income taxable income from capital investment.

Thus, private business owners do not have to pay personal income tax on the profits of the private business.