What are details of Form 01/XSBHDC used to make personal income tax declaration in Vietnam according to Circular 80?
What are details of Form 01/XSBHDC used to make personal income tax declaration in Vietnam according to Circular 80?
Based on Form 01/XSBHDC Appendix 2 List of tax declaration form templates issued together with Circular 80/2021/TT-BTC stipulating the personal income tax declaration form in Vietnam.
Note: Form 01/XSBHDC personal income tax declaration applies to lottery enterprises, insurance, multi-level marketing companies paying commissions to individuals directly signing contracts to act as distributors at the right price; insurers paying life insurance premiums, other non-compulsory insurance in Vietnam.
What are details of Form 01/XSBHDC used to make personal income tax declaration in Vietnam according to Circular 80? (Image from the Internet)
What are the personal income tax rates for business individuals in Vietnam?
Based on Article 10 of the Personal Income Tax Law 2007 amended by Clause 4 Article 2 of the Law on Amendments to Tax Laws 2014 stipulating taxes for business individuals:
Tax for business individuals
Business individuals shall pay personal income tax at a rate on revenue for each field, line of business, production, or trade.
Revenue includes all money from selling goods, processing money, commission, and money from providing services arising during the tax period from production, business activities of goods, and services.
In cases where business individuals cannot determine their revenue, the competent tax authority shall determine the revenue under the provisions of the law on tax management.
- Tax rates:
a) Distribution, supply of goods: 0.5%;
b) Services, construction without supplying raw materials: 2%.
For activities involving leasing assets, insurance agents, lottery agents, and multi-level sales agents: 5%;
c) Production, transportation, services associated with goods, construction supplying raw materials: 1.5%;
d) Other business activities: 1%.
Therefore, the personal income tax rates for business individuals in Vietnam are regulated as follows:
- Distribution, supply of goods: 0.5%
- Services, construction without supplying raw materials: 2%
For activities involving leasing assets, insurance agents, lottery agents, and multi-level sales agents: 5%
- Production, transportation, services associated with goods, construction supplying raw materials: 1.5%
- Other business activities: 1%.
What types of income from salary and wages are subject to personal income tax in Vietnam?
Based on Article 3 of the Personal Income Tax Law 2007 amended by Clause 1 Article 1 of the Amended Personal Income Tax Law 2012 and Clause 1 Article 2 of the Law on Amendments to Tax Laws 2014 stipulating taxable income:
Taxable Income
- Income from business, including:
a) Income from production, business activities of goods and services;
b) Income from independent professional activities of individuals with practice certificates or licenses as stipulated by law.
The income from business specified in this clause does not include income of business individuals with revenue not exceeding 100 million dong/year.
- Income from salary and wages, including:
a) Salaries, wages, and allowances of a salary or wage nature;
b) Allowances and subsidies, excluding the following ones: allowances and subsidies as stipulated by law on preferential treatments for people with meritorious services; national defense and security allowances; hazardous, danger allowances for industries, occupations, or jobs in places with hazardous, dangerous elements; attraction and regional allowances as stipulated by law; sudden difficulty subsidies, labor accident, occupational disease subsidy, one-time subsidy when giving birth or adopting a child, subsidies for reduced working capacity, lump-sum pension, monthly survivor's benefits, and other subsidies as stipulated by the law on social insurance; severance allowance, job loss allowance as stipulated by the Labor Code; social protection nature allowances and other allowances, subsidies not of a wage or salary nature as stipulated by the Government of Vietnam.
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Therefore, taxable income from salary and wages in Vietnam includes the following:
[1] Salaries, wages, and allowances of a salary or wage nature.
[2] Allowances and subsidies, excluding the following:
+ Allowances and subsidies according to the law on preferential treatment for people with meritorious services.
+ National defense and security allowances.
+ Hazardousness, danger allowances for industries, occupations, or jobs in places with hazardous, dangerous elements.
+ Attraction and regional allowances as stipulated by law.
+ Sudden difficulty subsidies, labor accident, occupational disease subsidies, one-time subsidy when giving birth or adopting a child, subsidies for reduced working capacity, lump-sum pension, monthly survivor's benefits, and other subsidies as stipulated by the law on social insurance.
+ Severance allowance, job loss allowance as stipulated by the Labor Code.
+ Social protection nature allowances and other allowances and subsidies not of a wage or salary nature as stipulated by the Government of Vietnam.
