Is Income from Rice Harvesting Subject to Personal Income Tax?
According to Article 4 of the Personal Income Tax Law 2007, the sources of income exempt from personal income tax are as follows:
- Income from the transfer of real estate between husband and wife; biological father, biological mother with biological child; adoptive father, adoptive mother with adopted child; father-in-law, mother-in-law with daughter-in-law; father-in-law, mother-in-law with son-in-law; paternal grandparents with grandchildren; maternal grandparents with grandchildren; siblings with each other.
- Income from the transfer of residential houses, the right to use homestead land and assets attached to homestead land of an individual in case the individual has only one residential house and homestead land.
- Income from the value of land use rights of an individual allocated land by the State.
- Income from inheritance, gifts which are real estate between husband and wife; biological father, biological mother with biological child; adoptive father, adoptive mother with adopted child; father-in-law, mother-in-law with daughter-in-law; father-in-law, mother-in-law with son-in-law; paternal grandparents with grandchildren; maternal grandparents with grandchildren; siblings with each other.
- Income of households and individuals directly engaged in agricultural production, forestry, salt production, aquaculture, fishing that has not been processed into other products or has only been subjected to preliminary processing.
- Income from the conversion of agricultural land by households and individuals allocated for production by the State.
=> Therefore, if your family has a successful harvest and derives income from it, your family will be exempt from personal income tax. According to the regulation, personal income tax exemption applies to income of households and individuals directly engaged in agricultural production, forestry, salt production, aquaculture, fishing that has not been processed into other products or has only been subjected to preliminary processing.
The editorial board informs you.
