For a Vienam citizen is there a lower limit one can make before one has to pay incometax. Or is it must pay tax even after one VND.
Many thanks
For a Vienam citizen is there a lower limit one can make before one has to pay incometax. Or is it must pay tax even after one VND.
Many thanks
It's my understanding that everything a person receives is taxable. After deductions, income is taxed incrementally:
5% on amount up to 5M
10% on amount over 5M but under 10M
15% on amount over 10M but under 18M
20% on amount over 18M but under 32M
25% on amount over 32M but under 52M
30% on amount over 52M but under 80M
35% on amount over 80M
That's the principle, but there are other factors that may change tax liability, the same as in other countries.
Again, that's what I know. A "real" Vietnamese who has better knowledge than I may tell you differently.
Ciambella wrote:A "real" Vietnamese who has better knowledge than I may tell you differently.
For, as we well know, our friend @Ciambella is "unreal"...
AFAIK, it's 9 mill VND/month. Anything above 9 mill is taxable on PT (progressive tax) scale. It used to be 4 or 5 mill not so long ago.
VN PIT calculator
" Personal relief of VND9 million/month, and family relief of VND3.6 million/month/dependent. "
Source: (scroll down to PIT deductions) https://www.grantthornton.com.vn/