What are latest guiding documents on the Law on Personal Income Tax of Vietnam?
What are latest guiding documents on the Law on Personal Income Tax of Vietnam?
The latest Law on Personal Income Tax is Law on Personal Income Tax 2007, which is amended and supplemented by the Law on Amendments to the Law on Personal Income Tax 2012 and the Law on Amendments to Various Tax Laws 2014.
Below is a compiled list of guidance documents related to the Law on Personal Income Tax 2007:
| No. | Document Name | Date Issued | Effective Date |
|---|---|---|---|
| 1 | Resolution 954/2020/UBTVQH14 on adjusting personal income tax family deduction amounts | June 02, 2020 | July 01, 2020 |
| 2 | Decree 12/2015/ND-CP guiding amendments and supplements to several tax laws and amendments to specific tax decrees | February 12, 2015 | January 01, 2015 |
| 3 | Decree 91/2014/ND-CP amending decrees regulating tax | October 01, 2015 | November 15, 2014 |
| 4 | Decree 65/2013/ND-CP guiding the Law on Personal Income Tax and amendments to the Law on Personal Income Tax | June 27, 2013 | July 01, 2013 |
| 5 | Circular 79/2022/TT-BTC amending and supplementing legal normative documents | December 30, 2022 | January 01, 2023 |
| 6 | Circular 100/2021/TT-BTC amending Circular 40/2021/TT-BTC on VAT, personal income tax, and tax management for business households and individuals | November 15, 2021 | January 01, 2022 |
| 7 | Circular 40/2021/TT-BTC guiding VAT, personal income tax, and tax management for business households and individual businesses | June 01, 2021 | August 01, 2021 |
| 8 | Circular 92/2015/TT-BTC guiding the implementation of VAT and personal income tax for resident individuals engaged in business; providing guidance on certain amendments to personal income tax as per the amendments to various tax laws 71/2014/QH13 and Decree 12/2015/ND-CP | June 15, 2015 | July 30, 2015 |
| 9 | Circular 151/2014/TT-BTC guiding the implementation of Decree 91/2014/ND-CP amending certain provisions on tax laws issued by the Minister of Finance | October 10, 2014 | November 15, 2014 |
| 10 | Circular 119/2014/TT-BTC amending Circular 156/2013/TT-BTC, 111/2013/TT-BTC, 219/2013/TT-BTC, 08/2013/TT-BTC, 85/2011/TT-BTC, 39/2014/TT-BTC, and 78/2014/TT-BTC for administrative tax procedure reforms | August 25, 2014 | September 01, 2014 |
| 11 | Circular 111/2013/TT-BTC guiding the Law on Personal Income Tax and Decree 65/2013/ND-CP issued by the Minister of Finance | August 15, 2013 | October 01, 2013 |
| 12 | Circular 20/2010/TT-BTC guiding administrative procedures for personal income tax issued by the Ministry of Finance | February 05, 2010 | March 22, 2010 |
| 13 | Inter-ministerial Circular 206/2013/TTLT-BTC-BCA guiding the collection and payment of personal income tax for officers, non-commissioned officers, public employees, and salaried employees in the People's Public Security | December 25, 2013 | February 07, 2014 |
| 14 | Inter-ministerial Circular 212/2013/TTLT-BTC-BQP guiding the collection and payment of personal income tax for officers, professional soldiers, officials, public employees, and salaried employees under the Ministry of Defense | December 30, 2013 | February 12, 2014 |
What are latest guiding documents on the Law on Personal Income Tax of Vietnam? (Image from the Internet)
What income is exempted from personal income tax in Vietnam?
According to Article 4 of the Law on Personal Income Tax 2007, the types of income exempted from personal income tax include:
- Income from the transfer of real estate between spouses; biological parents and biological children; adoptive parents and adopted children; parents-in-law and daughters-in-law; parents-in-law and sons-in-law; paternal grandparents and grandchildren; maternal grandparents and grandchildren; siblings.
- Income from the transfer of residential houses, rights to use homestead land, and assets attached to homestead land of individuals in cases where the individual possesses only one residential house, homestead land.
- Income from the value of land use rights allocated by the State to individuals.
- Income from inheritance or gifts in the form of real estate between spouses; biological parents and biological children; adoptive parents and adopted children; parents-in-law and daughters-in-law; parents-in-law and sons-in-law; paternal grandparents and grandchildren; maternal grandparents and grandchildren; siblings.
- Income of households or individuals directly engaged in agricultural, forestry production, salt making, aquaculture, or fishing that has not yet been processed into other products or has only been preliminarily processed.
- Income from the conversion of agricultural land allocated by the State to households or individuals for production.
- Income from interest on deposits at credit institutions, interest on life insurance contracts.
- Income from remittances.
- Additional wages for night shifts, overtime that are higher compared to normal day wages, in accordance with legal regulations.
- Retirement pensions paid by the Social Insurance Fund; pensions from voluntary pension funds paid monthly.
- Income from scholarships, including:
+ Scholarships received from the state budget;
+ Scholarships received from domestic and foreign organizations under scholarship aid programs.
- Income from indemnities of life insurance contracts, non-life insurance; indemnities for occupational accidents, compensation from the state, and other compensations as per legal regulations.
- Income received from charitable funds established or recognized and operating for non-profit, charitable, humanitarian objectives.
- Income received from foreign aid for charitable, humanitarian purposes in both governmental and non-governmental forms approved by competent state authorities.
- Income from wages, salaries of Vietnamese seamen working for foreign shipping companies or Vietnamese shipping companies engaged in international transportation.
- Income of individuals who own ships, have the right to use ships, and individuals working on ships from activities providing goods and services directly serving offshore fishing and catching operations.
Who is the taxpayer according to current regulations in Vietnam?
According to Article 4 of the Law on Personal Income Tax 2007, personal income taxpayers are defined as follows:
- Personal income taxpayers are resident individuals with taxable income specified in Article 3 of the Law on Personal Income Tax 2007 arising within and outside the territory of Vietnam, and non-resident individuals with taxable income specified in Article 3 of the Law on Personal Income Tax 2007 arising within the territory of Vietnam.
- A resident individual is defined as someone meeting one of the following conditions:
+ Present in Vietnam for 183 days or more within a calendar year, or 12 consecutive months from the first day of presence in Vietnam;
+ Having a permanent place of residence in Vietnam, including a registered place of residence or a leased house to live in Vietnam under a rental contract.
- Non-resident individuals are those not meeting the conditions defined in Clause 2, Article 4 of the Law on Personal Income Tax 2007.
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