Form 04/TKQT-TNCN Personal Income Tax Declaration Applicable to Individuals Receiving Inheritance, Gifts Not Related to Real Estate
Form 04/TKQT-TNCN Personal Income Tax Declaration Applicable to Individuals Receiving Inheritance, Gifts Not Being Real Estate
Based on Form 04/TKQT-TNCN issued together with Circular 80/2021/TT-BTC, stipulating the model personal income tax declaration form applicable to individuals receiving inheritance, gifts not being real estate.
Download Form 04/TKQT-TNCN Personal Income Tax Declaration Applicable to Individuals Receiving Inheritance, Gifts Not Being Real Estate
Form 04/TKQT-TNCN Personal Income Tax Declaration Applicable to Individuals Receiving Inheritance, Gifts Not Being Real Estate (Image from the Internet)
When is the Time to Determine Personal Income Taxable Income from Inheritance, Gifts?
According to Article 18 of the Personal Income Tax Law 2007, taxable income from inheritance, gifts is defined as follows:
Taxable Income from Inheritance, Gifts
- Taxable income from inheritance, gifts is the value of the inherited assets, gifts exceeding 10 million VND received by the taxpayer per each occurrence.
2. The time to determine taxable income is regulated as follows:
a) For income from inheritance, it is the time when the taxpayer receives the inheritance;
b) For income from gifts, it is the time when the organization or individual gives the gift to the taxpayer or the time when the taxpayer receives the income.
Thus, the time to determine personal income taxable income from inheritance, gifts is as follows:
- For income from inheritance, it is the time when the taxpayer receives the inheritance.
- For income from gifts, it is the time when the organization or individual gives the gift to the taxpayer or the time when the taxpayer receives the income.
What Income is Subject to Personal Income Tax?
Based on Article 3 of the Personal Income Tax Law 2007, amended by Clause 1; Clause 2 Article 2 of the Law on Amendments to Various Tax Laws 2014, and Clause 1 Article 1 of the Amended Personal Income Tax Law 2012, taxable personal income includes the following types of income:
[1] Income from business activities, including:
- Income from the production and business of goods and services.
- Income from independent professional activities of individuals licensed or certified per legal regulations.
Income from business activities stipulated in this clause does not include income of individuals running businesses with annual revenue of 100 million VND or less.
[2] Income from wages and salaries, including:
- Wages, salaries, and other amounts of a wage or salary nature.
- Allowances and subsidies, except for the following:
+ Allowances, subsidies as per the law on preferential treatment for particularly deserving individuals.
+ Defense and security allowances.
+ Hazardous and dangerous allowances for industries, occupations, or jobs in workplaces with hazardous elements.
+ Attraction and regional allowances according to legal regulations.
+ Sudden difficulty allowances, work accident, occupational disease allowances, one-time allowance for childbirth or adoption, allowances for reduced labor capacity, one-time retirement allowance, monthly subsidies, and other allowances as per social insurance law.
+ Severance and unemployment allowances per regulations.
+ Social protection allowances and other allowances and subsidies not of a salary or wage nature per regulations of the Government of Vietnam.
[3] Income from capital investment, including:
- Loan interest.
- Dividend income.
- Income from other forms of capital investment, excluding income from interest on Government of Vietnam bonds.
[4] Income from capital transfers, including:
- Income from transferring capital parts in economic organizations.
- Income from securities transfers.
- Income from other forms of capital transfers.
[5] Income from real estate transfers, including:
- Income from transferring land use rights and assets attached to the land.
- Income from transferring land ownership or land use rights.
- Income from transferring land lease rights or water surface lease rights.
- Other income from real estate transfers in any form.
[6] Income from prizes, including:
- Lottery winnings.
- Prizes from promotions.
- Prizes from betting.
[7] Income from copyrights, including:
- Income from transferring or licensing intellectual property rights.
- Income from technology transfers.
[8] Income from franchising.
[9] Income from receiving inheritance as securities, capital parts in economic organizations, business establishments, real estate, and other assets required to be registered or owned.
[10] Income from receiving gifts as securities, capital parts in economic organizations, business establishments, real estate, and other assets required to be registered or owned.
