How will the bonus after winning the 2018 AFF Cup be taxed?

According to the provisions of Article 2 of Circular 111/2013/TT-BTC, monetary or non-monetary bonuses in any form, including bonuses in the form of securities, are considered taxable personal income, except for the following bonuses:

e.1) Bonuses accompanying titles awarded by the State, which include bonuses accompanying commendation titles and awards in accordance with legal regulations on commendation and reward...

e.2) Bonuses accompanying national or international awards recognized by the Government of Vietnam.

e.3) Bonuses for technical innovations, inventions, or discoveries recognized by competent state authorities.

e.4) Bonuses for the identification or reporting of legal violations to competent state authorities.

Thus, the bonuses awarded to players after winning the AFF Cup 2018 will be divided into two categories.

First, bonuses awarded by the state, funds from commendation budgets, and state budgets will be tax-exempt.

Second, amounts given by organizations and individuals to players and the team will be declared and taxed based on the actual amount received by each individual, after deducting personal exemption (9 million VND/month), and a dependent allowance for up to 2 persons (3.6 million VND/person/month). Any amount exceeding this will be subject to personal income tax.

The above is an advisory content regarding the bonuses that players must pay tax on after winning the AFF Cup 2018.

Sincerely!