What is the standard deduction for dependents in 2024?
What is the standard deduction for dependents in 2024? Thank you!
What is the standard deduction for dependents in 2024?
Pursuant to Article 1 of the Resolution 954/2020/UBTVQH14 stipulating as follows:
Exemptions
The exemptions specified in Clause 1 Article 19 of the Law on Personal Income Tax No. 04/2007/QH12, amended by Law No. 26/2012/QH13, are changed as follows:
1. Personal exemption: 11 million VND/month (132 million VND/year);
2. Dependent exemption: 4,4 million VND/dependent/month.
As regulations above, the standard deduction for dependents in 2024 is as follows:
- Personal exemption: 11 million VND/month (132 million VND/year);
- Dependent exemption: 4,4 million VND/dependent/month.
What is the standard deduction for dependents in 2024? - Source: Internet
Who are dependents of taxpayers in Vietnam?
Pursuant to Clause 1.d Article 9 of the Circular 111/2013/TT-BTC stipulating dependents of taxpayers in Vietnam as follows:
- Children, legitimate adopted children, illegitimate children, stepchildren. To be specific:
+ Children under 18 years of age.
+ Children from 18 years of age and over that are disabled and incapable of work.
+ Children studying in Vietnam or overseas in universities, college, vocational schools, including children from 18 years of age and over in high schools (including the period awaiting university enrolment result from June to September in 12th grade) that have no income or have the average monthly income of ≤ 1.000.000 VND in the year from all sources.
- The taxpayer's spouse that meets the conditions as prescribed.
- The taxpayer’s parents, parents-in-law, stepparents, legitimate adoptive parents.
- Other dependants that the taxpayer has to provide for including:
+ The taxpayer’s brothers and sisters.
+ The taxpayer’s grandparents, aunts, uncles.
+ The taxpayer’s nieces and nephews.
+ Other people to provide for as prescribed by law.
A person that meets the conditions below shall be considered a dependant:
- The person of working age must meet all conditions below:
+ The person is disabled and incapable of work.
+ The person has no income or his average monthly income from all sources does not exceed 1,000,000 VND.
- The people outside working age shall have no income or their average monthly income from all sources shall not exceed 1,000,000 VND.
What are documents for proving dependents of taxpayers in Vietnam?
Pursuant to Clause 1.g Article 9 of the Circular 111/2013/TT-BTC stipulating documents for proving dependents of taxpayers in Vietnam as follows:
(1) For children:
- Children under 18 years of age: A copy of the birth certificate and a copy of the identity card or national identity card (if any).
- Children over 18 years of age with disabilities who are unable to work:
+ A copy of the birth certificate and a copy of the identity card or national identity card (if any).
+ A copy of the disability certificate as prescribed by the law on people with disabilities.
- Children studying in Vietnam or abroad at the university, college, vocational, or vocational school level, children over 18 years of age studying at the secondary school level without income or with an average monthly income from all sources of income not exceeding VND 1,000,000:
+ A copy of the birth certificate.
+ A copy of the student card or a declaration with the confirmation of the school or other documents proving that they are studying at universities, colleges, vocational schools, secondary schools, or vocational schools.
+ In the case of adopted children, children born out of wedlock, or stepchildren, additional documents are required to prove the relationship.
(2) For spouses:
- A copy of the identity card or national identity card.
- A copy of the confirmation of residential information or notification of personal identification number and information in the national population database or other documents issued by the police agency or a copy of the marriage certificate.
- In the case of dependents of working age, additional documents are required to prove that the dependent is unable to work.
(3) For parents:
- A copy of the identity card or national identity card.
- Legal documents to determine the relationship of the dependent with the taxpayer.
- In the case of dependents of working age, additional documents are required to prove that they are disabled and unable to work.
(4) Other individuals without a place to stay that the taxpayer is currently having to directly raise:
- A copy of the identity card or national identity card or birth certificate.
- Legal documents to determine the responsibility for raising according to the law.
- In the case of dependents of working age, additional documents are required to prove that they are unable to work.
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