What is the latest whole income tariff in Vietnam for 2024?

What is the latest whole income tariff in Vietnam for 2024?

Based on Article 23 of the 2007 Law on Personal Income Tax, amended by Clause 7, Article 2 of the 2014 Law Amending Tax Laws, the whole income tariff is as follows:

What is the latest whole income tariff in Vietnam for 2024? (Image from the Internet)

Which incomes are subject to the whole income tariff in Vietnam?

Based on Clause 1, Article 23 of the 2007 Law on Personal Income Tax, the whole income tariff applies to taxable incomes from capital investment, capital transfer, real estate transfer, winnings, royalties, franchise, inheritance, and gifts.

What incomes are subject to personal income tax in Vietnam?

Based on Article 3 of the 2007 Law on Personal Income Tax, amended by Clauses 1 and 2, Article 2 of the 2014 Law Amending Tax Laws, Clause 1, Article 1 of the 2012 Amended Law on Personal Income Tax, taxable personal incomes include the following:

(1). Income from business activities, including:

- Income from the production, business of goods and services;- Income from independent professional activities of individuals holding permits or certificates of practice as per the law.

Income from business activities as stipulated in this clause does not include income of individuals with an annual revenue of 100 million VND or less.

(2). Income from wages, salaries, including:

- Wages, salaries, and amounts with salary nature;- Allowances, subsidies, except the following:

+ Allowances and subsidies as per laws on preferential treatment for people with meritorious services; defense and security allowances;+ Hazardous, dangerous allowances for sectors, professions, or jobs at workplaces with hazardous, dangerous factors;+ Attraction allowances, regional allowances as per the law; sudden hardship subsidies, accident labor, occupational disease allowances, one-time maternity or adoption allowances, allowances for reduced work capacity, one-time pension allowances, monthly survivor's benefits.

+ Other allowances as per social insurance laws; severance, job-loss allowances per the Labor Code; social protection allowances and other non-salary, non-wage allowances according to the Government of Vietnam regulations.

(3). Income from capital investment, including:

- Loan interest;- Dividends;- Income from other forms of capital investment, except interest on Government bonds.

(4). Income from capital transfer, including:

- Income from the transfer of capital in economic organizations;- Income from securities transfer;- Income from other forms of capital transfer.

(5). Income from real estate transfer, including:

- Income from the transfer of land use rights and assets attached to land;- Income from the transfer of ownership or use rights over houses;- Income from the transfer of lease rights over land, water surface;- Other income from real estate transfer in all forms.

(6). Income from winnings, including:

- Lottery winnings;- Promotional winnings;- Betting winnings;- Winnings from games, contests with prizes, and other forms of winnings.

(7). Income from royalties, including:

- Income from the transfer of, or rights to use, intellectual property rights;- Income from technology transfer.

(8). Income from franchise.

(9). Income from inheritance is securities, capital in economic organizations, business facilities, real estate, and other assets requiring registration.

(10). Income from gifts is securities, capital in economic organizations, business facilities, real estate, and other assets requiring registration.

Which incomes are exempt from personal income tax in Vietnam?

Based on Article 4 of the 2007 Law on Personal Income Tax, amended by Clause 2, Article 1 of the 2012 Amended Law on Personal Income Tax and supplemented by Clause 3, Article 2 of the 2014 Law Amending Tax Laws, tax-exempt incomes include:

(1) Income from real estate transfer between spouses; biological parents and children; adoptive parents and adopted children; parents-in-law and children-in-law; paternal/maternal grandparents and grandchildren; siblings.

(2) Income from transferring houses, homestead land use rights, and assets attached to homestead land of individuals if the individual has only one house, homestead land.

(3) Income from the value of the land use rights given by the State.

(4) Inheritance, gift income in real estate between spouses; biological parents and children; adoptive parents and adopted children; parents-in-law and children-in-law; paternal/maternal grandparents and grandchildren; siblings.

(5) Income of households, individuals directly engaged in agricultural, forestry, salt production, aquaculture, and fishing activities not undergoing further processing into other products or only through primary processing.

(6) Income from the exchange of agricultural land given by the State for production.

(7) Interest income from credit institutions, life insurance contracts.

(8) Income from overseas remittance.

(9) Portions of salary for night work or overtime higher than the daytime or regular hour wages as per law.

(10) Pension income from Social Insurance Fund; monthly pension income from voluntary pension fund.

(11) Scholarship income, including:

- Scholarships from the state budget;- Scholarships from domestic and foreign organizations through their academic support programs.

(12). Compensation from life, non-life insurance contracts, labor accident compensation, state compensation, and other compensation as per the law.

(13). Income from charitable, humanitarian funds authorized or recognized by competent state agencies operating for non-profit humanitarian purposes.

(14). Income from foreign non-profit, humanitarian aid approved by competent state agencies.

(15). Wage income of Vietnamese crew members working for foreign or Vietnamese international shipping companies.

(16). Income of vessel owners, individuals using vessels and individuals working on vessels from providing supplies and services directly serving offshore fishing activities.