Are lottery winnings subject to personal xem bóng đá trực tiếp nhà cái in Vietnam? How to calculate personal xem bóng đá trực tiếp nhà cái payable on lottery winnings in Vietnam?
Are lottery winnings subject to personal xem bóng đá trực tiếp nhà cái in Vietnam?
Based on Clause 6, Article 3 of thePersonal xem bóng đá trực tiếp nhà cái Law 2007as amended by Clause 2, Article 2 of theLaw on Amendments to Tax Laws 2014, taxable income is regulated as follows:
Taxable Income
Taxable income for personal xem bóng đá trực tiếp nhà cái includes the following types of income, except for income exempt from tax as stipulated in Article 4 of this Law:
...
6. Income from winning prizes, including:
a) Lottery winnings;
b) Prizes won in promotional schemes;
c) Winnings from betting;
d) Prizes won in games, competitions with prizes, and other forms of prize-winning.
...
Additionally, point a, Clause 6, Article 2 ofCircular 111/2013/TT-BTCprovides guidance on taxable income as follows:
Taxable Income Items
According to Article 3 of the Personal xem bóng đá trực tiếp nhà cái Law and Article 3 of Decree No. 65/2013/ND-CP, taxable income includes:
...
6. Income from winning prizes
Income from winning prizes refers to any money or objects received by individuals in the following forms:
a) Winnings from lotteries paid by lottery companies.
b) Winnings from promotional activities when participating in buying and selling goods and services as per the Commercial Law.
c) Winnings from betting forms that are legally permitted.
...
From the above regulations, it can be seen that income from lottery winnings paid by lottery companies is taxable income, which means lottery winnings are subject to personal xem bóng đá trực tiếp nhà cái.
Are lottery winnings subject to personal xem bóng đá trực tiếp nhà cái in Vietnam? How to calculate personal xem bóng đá trực tiếp nhà cái payableon lottery winnings in Vietnam? (Image from the Internet)
How to calculate personal xem bóng đá trực tiếp nhà cái for Vietnamese residentswho win the lottery?
According to Article 15 ofCircular 111/2013/TT-BTC, which regulates the basis for tax calculation on prize-winning income as follows:
The basis for tax calculation for income from winning prizes is taxable income and tax rate.
(1) Taxable Income
Taxable income from prizes is the portion of the prize value exceeding 10 million VND that the taxpayer receives each time they win, regardless of the number of times they receive the prize money.
In the case of a prize with multiple winners, the taxable income is divided among the recipients. Those who claim a share of the prize must provide legal documentation as evidence. If no legal documentation is provided, the prize income is attributed to a single individual. In cases where an individual wins multiple prizes in a single game, the taxable income is calculated based on the total value of all prizes.
For lottery winnings, the taxable income is the total prize value exceeding 10 million VND per lottery ticket received in a single draw, without any deductions.
(2) Tax Rate
The personal xem bóng đá trực tiếp nhà cái rate for income from prizes, specifically for lottery winnings, is applied according to the Full Tax Rate Table with a tax rate of 10%.
(3) Tax Calculation Formula
| Personal xem bóng đá trực tiếp nhà cái Payable = Taxable Income x Tax Rate (10%) |
Thus, in the case of winning the lottery, for each prize-winning ticket, the individual must pay personal xem bóng đá trực tiếp nhà cái calculated as follows: (Winning Amount - 10 million) x 10%.
Example: For a special lottery prize of 2 billion VND, for one ticket, the personal xem bóng đá trực tiếp nhà cái payable is: (2,000,000,000 - 10,000,000) x 10% = 199,000,000 VND (199 million VND).
(4) Time of Determining Taxable Income
The time of determining taxable income for winnings is when the organization or individual pays the prize to the winner.
How to calculate personal xem bóng đá trực tiếp nhà cái for Vietnamese residentswho win the lottery?
According to Article 23 ofCircular 111/2013/TT-BTC, personal xem bóng đá trực tiếp nhà cái for lottery winnings for non-residents is calculated as follows:
Personal xem bóng đá trực tiếp nhà cái for income from winning prizes (lottery) for non-residents is determined by multiplying the taxable income by the tax rate of 10%.
In this context, the taxable income from prizes is the portion of the prize value exceeding 10 million VND for each win in Vietnam.
Income from prizes for non-residents is determined in the same manner as for residents as guided in Clause 1, Article 15 ofCircular 111/2013/TT-BTC.
Furthermore, the time of determining taxable income for non-residents is when the organization or individual in Vietnam pays the prize money to the non-resident.
Who is responsible for withholding personal xem bóng đá trực tiếp nhà cái when winning the lottery in Vietnam?
Based on point g, Clause 1, Article 25 ofCircular 111/2013/TT-BTC, it is stipulated as follows:
Tax Deductions and Tax Deduction Receipts
1. Tax deduction
Tax deduction is the responsibility of the organization or individual paying the income to withhold the tax from the taxpayer's income before payment. Specifically:
...
g) Income from winning prizes
The organization paying the prize money is responsible for withholding personal xem bóng đá trực tiếp nhà cái before paying the prize to the prize winner. The deducted tax is determined according to the guidance in Article 15 of this Circular.
...
Additionally, Clause 1, Article 16 ofDecree 30/2007/ND-CPprovides that:
Prize Payment Implementation
- The lottery business enterprise is responsible for fully paying the prize value to winning customers according to the announced terms of participation.
...
As such, the lottery company has the responsibility to withhold personal xem bóng đá trực tiếp nhà cái before paying the prize to the winning individual.
