Personal Income tax

I am not very sure but get it confirmed; you could be on the 30 -35% tax bracket!

Vietnam PIT  personal income tax.  KPMG

Try that....I hope the link works.

Ontheroad57 wrote:

Vietnam PIT  personal income tax.  KPMG

Try that....I hope the link works.

Thank you very much. You guided me to the right link.

LSP123 wrote:

I am not very sure but get it confirmed; you could be on the 30 -35% tax bracket!

Thank you for the note. It does come in the 35% bracket.

Ask your company for a contract based on a Net Salary, then you know what  you get. It have worked for me for years here and the company is responsible to pay the Taxes

Frede001 wrote:

Ask your company for a contract based on a Net Salary, then you know what  you get. It have worked for me for years here and the company is responsible to pay the Taxes

Friends,

It is an Indian company having their operations in Vietnam. In India, companies work on the methodology of employee paying all the taxes from gross.  I will have to really find out whether they are prepared to discuss on net basis.

I have put together a small calculation. Assuming I click on this opportunity and I am offered USD 70,000 as gross, outgo towards taxes shall be around USD 20,000, outgo towards school fee around USD 20,000, outgo towards a fully furnished two bedroom apartment maximum around  USD 10,000, what is left is around USD 20,000 for expenses. Is this a good amount to have a comfortable life (no luxury) plus a bit of saving ? OR is it worthwhile to leave family back in India, rent a studio / share an apartment for USD 5,000 and make family travel 2-3 times in a year on tourist visa. Company also offers a paid round trip once a year. Education expenses (some of the best schools) is one tenth in India compared to Vietnam. Once you take an apartment/studio on rent, does the owner allow the place to be used also by family on occasional visits ?

Your thoughts are welcome. I would appreciate as many diverse thoughts as possible. Thanks.

andidips wrote:

outgo towards taxes shall be around USD 20,000,

How about social security? Personal income tax is rarely the only tax paid on salary. Also consider dependent deductions...

Edit: google "vietnam net salary calculator", according to the ones I've found, taxes would be 24kUSD.