What is the KeSPA Cup 2024 League of Legends schedule for today? Are incomes from prizes of olnline game competitions subject to personal income tax in Vietnam?

What is the KeSPA Cup 2024 League of Legends schedule for today?

Below is the KeSPA Cup 2024 League of Legends schedule for today:

This year's KeSPA Cup sees a significant change as it is not just a competition for professional and semi-professional teams but also serves as a reference event for the selection of national teams. Players have the opportunity to test their skills in this tournament while preparing for the ASIAD qualifiers next year.

A total of 12 teams will compete, including 6 teams from the LCK region (not participating in the World Championship), 4 teams from the LCK CL region, the Chinese Taipei All Stars team, and the Vietnam All Stars team. This tournament not only provides an opportunity for players to showcase themselves but also offers a prize of 29,000 USD for the winning team.

Swiss Round Schedule

Knockout Stage Schedule - KESPA Cup 2024

Note: The schedule for the KeSPA Cup 2024 League of Legends today is for reference only!

Are incomes from prizes of olnline game competitions subject to personal income tax in Vietnam?

According to Clause 6, Article 3 of the Law on Personal Income Tax 2007, amended at Clause 2, Article 2 of the Law on Amendments to Tax Laws 2014, specific regulations on taxable income are as follows:

Taxable Income

…

6. Income from winnings, including:

a) Lottery winnings;

b) Winnings from promotional activities;

c) Winnings from betting, casinos;

d) Winnings from games, competitions with prizes, and other forms of winnings.

e) Other benefits received in cash or non-cash by the taxpayer;

f) Prizes, except for those accompanying titles conferred by the State, national awards, international awards, prizes for technical innovation, inventions, recognized by competent state agencies, and rewards for the detection and reporting of illegal activities to competent state agencies.

...

Additionally, according to Clause 1, Article 15 of Circular 111/2013/TT-BTC, regulations on the basis for calculating tax on income from winnings are as follows:

Basis for Calculating Tax on Income from Winnings

The basis for calculating tax on income from winnings includes taxable income and tax rates.

1. Taxable Income

Taxable income from winnings is the prize value exceeding 10 million VND received by the taxpayer per prize won, regardless of the number of times the prize is received.

In case of a single prize won by multiple winners, the taxable income is divided among the recipients. The winner must provide legal evidence. If no legal evidence is provided, the taxable income is calculated for one individual. In case an individual wins multiple prizes in a single event, the taxable income is calculated on the total value of all the prizes.

...

Taxable income for some games with prizes: Specific regulations are as follows:

Basis for Calculating Tax on Income from Winnings

...

d) For winnings from games and contests with prizes, taxable income is calculated per winning occasion. The prize value is the entire amount exceeding 10 million VND received by the player before any deductions.

...

Therefore, according to the above regulations, prizes from online game competitions are subject to personal income tax. However, the winner is only required to pay personal income tax when the prize has a value exceeding 10 million VND.

What is the KeSPA Cup 2024 League of Legends schedule for today? Are incomes from prizes of olnline game competitions subject to personal income tax in Vietnam? (Image from the Internet)

Which incomes are exempt from personal income tax in Vietnam?

According to Article 4 of the Law on Personal Income Tax 2007, as supplemented by Clause 3, Article 2 of the Law on Amendments to Tax Laws 2014 and amended by Clause 2, Article 1 of the Law on Personal Income Tax Amendments 2012, the following personal incomes are exempt from personal income tax:

- Income from the transfer of real estate between spouses; biological parents and children; adoptive parents and adopted children; parents-in-law and daughters-in-law; parents-in-law and sons-in-law; grandparents and grandchildren; siblings.

- Income from the transfer of housing, residential land use rights, and assets attached to residential land in cases where individuals possess only one house, one residential land.

- Income from the value of land use rights allocated by the State.

- Income from inheritance or gifts of real estate between spouses; biological parents and children; adoptive parents and adopted children; parents-in-law and daughters-in-law; parents-in-law and sons-in-law; grandparents and grandchildren; siblings.

- Income of households or individuals directly engaged in agricultural production, forestry, salt production, aquaculture, and fishing that are not processed into other products or only undergo preliminary processing.

- Income from the conversion of agricultural land allocated by the State for production purposes.

- Income from interest on deposits at credit institutions; interest from life insurance contracts.

- Income from remittances.

- Parts of salary or wages for night shifts or overtime paid higher than the regular daytime wage according to legal provisions.

- Regular pensions paid by the social insurance fund; monthly pension from a voluntary pension fund.

- Income from scholarships, including:

+ Scholarships granted from the state budget;

+ Scholarships granted by domestic and foreign institutions under their educational support programs.

- Income from life and non-life insurance compensations, labor accident compensations, state compensations, and other compensations as stipulated by law.

- Income from funds recognized or approved by competent state agencies for charitable, humanitarian, non-profit purposes.

- Income from foreign aid charities under government and non-government agreements approved by competent state agencies.

- Income from salaries or wages of Vietnamese seamen working for foreign shipping companies or international transport shipping companies of Vietnam.

- Income of individuals who own or have the right to use and work on ships from supplying goods and services directly serving offshore fishing activities.