Is retirement pension a taxable income đá bóng trực tiếp Vietnam?

Is retirement pension a taxable income đá bóng trực tiếp Vietnam?

Article 4 of thePersonal Income Tax Law 2007(as supplemented by Clause 3, Article 2 of theLaw on Tax Amendments 2014; as amended by Clause 2, Article 1 of theLuật thuế thu lịch trực tiếp bóng đá hôm) defines tax-exempt incomes as follows:

Tax-Exempt Incomes

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5. Incomes of households and individuals directly engaged đá bóng trực tiếp agricultural, forestry, salt production, and aquaculture activities, which have not been processed into other products or only gone through basic processing.

6. Incomes from the conversion of agricultural land by households and individuals granted by the State for production.

7. Interest income from deposits at credit institutions, and interest from life insurance contracts.

8. Income from remittances.

9. Wages and salaries received for night work and overtime work paid higher than those received for day work and work during legal working hours.

10. Retirement pensions paid by the Social Insurance Fund; monthly pensions paid by voluntary pension funds.

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Thus, according to the above regulation, retirement pensions are exempt from personal income tax.

Is retirement pension a taxable income đá bóng trực tiếp Vietnam?(Image from the Internet)

Are other incomes besides pensions considered taxable incomes đá bóng trực tiếp Vietnam?

According to Clause 2, Article 2 ofCircular 111/2013/TT-BTC(as amended and supplemented by Article 11 ofCircular 92/2015/TT-BTC) on taxable incomes from wages and salaries as follows:

Taxable Incomes

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2. Income from wages and salaries

Income from wages and salaries is the income received by an employee from the employer, including:

a) Wages, salaries, and other amounts of similar nature đá bóng trực tiếp cash or đá bóng trực tiếp kind.

b) Allowances and subsidies, except for the following allowances and subsidies:

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c) Remuneration received đá bóng trực tiếp forms such as: sales commission, brokerage commission; remuneration for participating đá bóng trực tiếp scientific and technical research projects; remuneration for participating đá bóng trực tiếp projects and schemes; royalties as stipulated by law on royalties; remuneration for teaching activities; remuneration for participating đá bóng trực tiếp cultural, artistic, sports activities; advertising services; and other services and other compensation.

d) Income from participation đá bóng trực tiếp business associations, boards of directors of enterprises, supervisory boards of enterprises, project management boards, management councils, professional associations, and other organizations.

dd) Benefits đá bóng trực tiếp cash or đá bóng trực tiếp kind other than wages and salaries paid by the employer to which the taxpayer is entitled đá bóng trực tiếp any form:

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e) Cash or đá bóng trực tiếp-kind bonuses đá bóng trực tiếp any form, including bonuses đá bóng trực tiếp the form of stocks, except for the following bonuses:

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Thus, incomes from wages and salaries that are not pensions are still subject to personal income tax.

Who arepersonal income taxpayers đá bóng trực tiếp Vietnam?

Based on the provisions of Article 2 of thePersonal Income Tax Law 2007, the following is stipulated:

Taxpayers

1. Personal income tax payers are resident individuals with taxable incomes as prescribed đá bóng trực tiếp Article 3 of this Law arising inside and outside the territory of Vietnam, and non-resident individuals with taxable incomes as prescribed đá bóng trực tiếp Article 3 of this Law arising within the territory of Vietnam.

2. Resident individuals are those who meet one of the following conditions:

a) Present đá bóng trực tiếp Vietnam for 183 days or more đá bóng trực tiếp a calendar year or for 12 consecutive months from the first day of presence đá bóng trực tiếp Vietnam;

b) Have a regular place of residence đá bóng trực tiếp Vietnam, which includes a registered place of permanent residence or a rented house for living đá bóng trực tiếp Vietnam under a lease contract with a term.

3. Non-resident individuals are those who do not meet the conditions stipulated đá bóng trực tiếp Clause 2 of this Article.

Thus, based on the above regulations, the personal income tax payers include:

- Personal income tax payers are resident individuals with taxable incomes as prescribed đá bóng trực tiếp Article 3 of thePersonal Income Tax Law 2007arising inside and outside the territory of Vietnam, and non-resident individuals with taxable incomes as prescribed đá bóng trực tiếp Article 3 of thePersonal Income Tax Law 2007arising within the territory of Vietnam.

- Resident individuals are those who meet one of the following conditions:

+ Present đá bóng trực tiếp Vietnam for 183 days or more đá bóng trực tiếp a calendar year or for 12 consecutive months from the first day of presence đá bóng trực tiếp Vietnam;

+ Have a regular place of residence đá bóng trực tiếp Vietnam, which includes a registered place of permanent residence or a rented house for living đá bóng trực tiếp Vietnam under a lease contract with a term.

- Non-resident individuals are those who do not meet the conditions stipulated above:

+ Present đá bóng trực tiếp Vietnam for 183 days or more đá bóng trực tiếp a calendar year or for 12 consecutive months from the first day of presence đá bóng trực tiếp Vietnam;

+ Have a regular place of residence đá bóng trực tiếp Vietnam, which includes a registered place of permanent residence or a rented house for living đá bóng trực tiếp Vietnam under a lease contract with a term.