What is the 2025 Tet holiday Schedule for Lottery in Northern, Central, and Southern Vietnam? Is winning the lottery subject to personal income tax in Vietnam?

What is the 2025 Tet holiday Schedule for Lottery in Northern, Central, and Southern Vietnam?

Based on Announcement 6150/TB-BLDTBXH in 2024 concerning the Lunar New Year holiday, National Day holiday, Victory Day April 30, and International Labor Day May 1, 2025, for officials, public employees, and workers are as follows:

7. For employees not covered in point 1 of this announcement, the employer will decide on the option for Lunar New Year holiday, National Day holiday, Victory Day April 30, and International Labor Day May 1, 2025, as follows:

- Regarding the Lunar New Year holiday: choose 01 day at the end of the Year of the Dragon and 04 days at the beginning of the Year of the Snake or 02 days at the end of the Year of the Dragon and 03 days at the beginning of the Year of the Snake or 03 days at the end of the Year of the Dragon and 02 days at the beginning of the Year of the Snake.

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Thus, businesses are allowed to determine the 2025 Tet holiday schedule for their employees according to one of the following three options:

- 01 day at the end of the Year of the Dragon and 04 days at the beginning of the Year of the Snake.

- 02 days at the end of the Year of the Dragon and 03 days at the beginning of the Year of the Snake.

- 03 days at the end of the Year of the Dragon and 02 days at the beginning of the Year of the Snake.

In addition, based on the announcement on the official website of the Northern, Southern, and Central Lotteries, the specific 2025 Tet holiday schedule for these lotteries is as follows:

(1) Northern Lottery

- The Northern Lottery will officially close for 4 days, starting from the 29th of the Lunar December in the Year of the Dragon (which is January 28, 2025) to the end of the 3rd day of the Lunar January in the Year of the Snake (which is January 31, 2025).

- The Northern Lottery will resume operations on the 4th day of the Lunar January in the Year of the Snake (which is February 1, 2025) during the usual time slot of 18:15.

Note: The last draw of the year for traditional Northern lottery tickets before the Lunar New Year holiday is on the 28th of the Lunar December in the Year of the Dragon (which is Monday, January 27, 2025).

(2) Southern Lottery

The Southern Lottery does not close for the Lunar New Year, so drawing activities will continue as usual to serve players purchasing tickets for good luck, especially during the Lunar New Year days.

(3) Central Lottery

The Central Lottery does not close for the Lunar New Year, so drawing activities will continue as usual to serve players purchasing tickets for good luck, especially during the Lunar New Year days.

What is the 2025 Tet holiday Schedule for Lottery in Northern, Central, and Southern Vietnam? Is winning the lottery subject to personal income tax in Vietnam? (Image from Internet)

Is winning the lottery subject to personal income tax?

According to point a, clause 6, Article 2 of Circular 111/2013/TT-BTC, the taxable income items are as follows:

Taxable Incomes

As stipulated in Article 3 of the Law on Personal Income Tax and Article 3 of Decree No. 65/2013/ND-CP, taxable personal income includes:

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6. Income from Winnings

Income from winnings is the money or goods received by an individual in the following forms:

a) Winning a lottery issued and awarded by lottery companies.

b) Winning in promotional activities when participating in buying and selling of goods and services as stipulated by the Commercial Law.

c) Winning in betting and wagering forms permitted by law.

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From the above regulation, it is clear that income from winning a lottery issued and awarded by lottery companies is subject to personal income tax.

How to determine personal income tax payable when winning the lottery for Vietnamese residents?

According to Article 15 of Circular 111/2013/TT-BTC on the method of calculating tax on lottery winnings for Vietnamese residents as follows:

(1) Taxable Income

The taxable income from winnings is the value of prizes exceeding 10 million VND that the taxpayer receives for each occurrence of winning, regardless of the number of times of receiving the winnings.

In cases where a prize is won by multiple individuals, the taxable income is distributed among the recipients. The winners must provide legal evidence. If no legal evidence is presented, the income from the winnings is calculated for a single individual. If an individual wins multiple prizes in one event, the taxable income is calculated on the total value of all the prizes.

For lottery winnings, the taxable income is the entire amount exceeding 10 million VND on a single (01) lottery ticket received in one draw, before any deductions.

(2) Tax Rate

The personal income tax rate for income from winnings, specifically lottery winnings, is a 10% flat tax rate.

(3) Time of Determining Taxable Income

The time for determining taxable income from winnings is when the organization or individual awards the prize to the winner.

(4) Formula for Calculating Payable Personal Income Tax

Thus, for each winning lottery ticket, the winner must pay personal income tax in the amount of: (Winning Amount - 10 million) x 10%.

Example: Winning 01 special prize lottery ticket worth 1 billion VND, the personal income tax payable is: (1,000,000,000 - 10,000,000) x 10% = 99,000,000 (99 million VND).