Vietnam: What is xem bóng đá trực tiếp nhà cái statutory pay rate used for calculating salaries paid to teachers?

What is xem bóng đá trực tiếp nhà cái statutory pay rate used for calculating salaries paid to teachers in Vietnam?

Under Article 3 ofDecree No. 73/2024/ND-CP, xem bóng đá trực tiếp nhà cái statutory pay rate used for calculating salaries paid to teachers in Vietnam is regulated as follows:

Statutory pay rate

1. xem bóng đá trực tiếp nhà cái statutory pay rate shall be used as xem bóng đá trực tiếp nhà cái basis for:

a) Calculating salaries in payrolls, allowances and other benefits as per xem bóng đá trực tiếp nhà cái law with regard to individuals defined in Article 2 of this Decree;

b) Calculating operation funding and subsistence allowances as per xem bóng đá trực tiếp nhà cái law;

c) Calculating deductions and benefits according to xem bóng đá trực tiếp nhà cái statutory pay rate.

2. From July 01, 2024, xem bóng đá trực tiếp nhà cái statutory pay rate is VND 2,340,000 per month.

3. xem bóng đá trực tiếp nhà cái agencies and units that are implementing xem bóng đá trực tiếp nhà cái special financial and income mechanisms at central level: retain xem bóng đá trực tiếp nhà cái differences between additional salaries and incomes in June, 2024 paid to officials and public employees and salaries paid from July 01, 2024 after such special financial and income mechanisms are amended or annulled. Pending such amendments to annulment, from July 01, 2024, xem bóng đá trực tiếp nhà cái additional monthly salaries and incomes will be paid according to xem bóng đá trực tiếp nhà cái statutory pay rate of VND 2,340,000 million/month as prescribed by such special mechanisms, ensuring that they shall not exceed xem bóng đá trực tiếp nhà cái additional salaries and incomes paid in June, 2024 (excluding xem bóng đá trực tiếp nhà cái increase in salaries and incomes resulted from adjustment of rank- or grade-based pay rate). If xem bóng đá trực tiếp nhà cái increase in salaries and incomes from July 01, 2024 calculated using xem bóng đá trực tiếp nhà cái aforementioned special mechanism is lower than xem bóng đá trực tiếp nhà cái salaries calculated using normal methods, xem bóng đá trực tiếp nhà cái latter shall apply.

4. xem bóng đá trực tiếp nhà cái Government shall adjust xem bóng đá trực tiếp nhà cái statutory pay rate after requesting xem bóng đá trực tiếp nhà cái National Assembly to consider making its decision in conformity with xem bóng đá trực tiếp nhà cái capacity of xem bóng đá trực tiếp nhà cái state budget, consumer price index and national economic growth rate.

xem bóng đá trực tiếp nhà cái statutory pay rate used to calculate xem bóng đá trực tiếp nhà cái salaries paid to teachers currently is 2,340,000 VND.

Additionally, xem bóng đá trực tiếp nhà cái statutory pay rate is used as xem bóng đá trực tiếp nhà cái basis to determine:

- Calculating salaries in payrolls, allowances and other benefits as per xem bóng đá trực tiếp nhà cái law with regard to individuals defined in Article 2 ofDecree No. 73/2024/ND-CP;

- Calculating operation funding and subsistence allowances as per xem bóng đá trực tiếp nhà cái law;

- Calculating deductions and benefits according to xem bóng đá trực tiếp nhà cái statutory pay rate.

What is xem bóng đá trực tiếp nhà cái statutory pay rate used for calculating salaries paid to teachers in Vietnam? (Image from xem bóng đá trực tiếp nhà cái Internet)

How much salary should teachers earn to pay personal income tax?

Under Article 2 ofCircular No. 111/2013/TT-BTC:

Taxable income

...

2. Incomes from wages and remunerations.

Incomes from wages and remunerations (hereinafter referred to as wages) are incomes paid to employees from employers, including:

a) Wages, remunerations, and xem bóng đá trực tiếp nhà cái other amounts paid as wages or remunerations in cash or not in cash.

b) Allowances and benefits, except for:

b.1) Monthly benefits, lump-sum benefits and allowances according to regulations of law on incentives for contributors.

b.2) Monthly allowances and lump-sump allowances for xem bóng đá trực tiếp nhà cái persons that participate in xem bóng đá trực tiếp nhà cái resistance movements, national defense, fulfillment of international tasks, and discharged volunteers.

b.3) Benefits for national defense and security; subsidies for xem bóng đá trực tiếp nhà cái armed forces.

b.4) Benefits for dangerous or harmful works.

b.5) Benefits for employees in disadvantaged areas.

b.6) Irregular allowances for difficulties, occupational accident benefits, occupational illness benefits, lump-sum allowances for childbirth or adoption, maternity leave benefits, post-maternity recovery benefits, benefits for reduction in work ability, lump-sum pension, monthly widow’s pension, severance pay, redundancy pay, unemployment benefits, and other benefits according to xem bóng đá trực tiếp nhà cái Labor Code and xem bóng đá trực tiếp nhà cái Law on Social insurance.

b.7) Benefits for beneficiaries of social security.

b.8) Benefits for senior officers.

...

xem bóng đá trực tiếp nhà cái salary paid to teachers is subject topersonal income tax.

Under Article 1 ofResolution No. 954/2020/UBTVQH14, xem bóng đá trực tiếp nhà cái personaldeductionsare regulated as follows:

Personal deduction

Adjusting xem bóng đá trực tiếp nhà cái personal deductions prescribed in Clause 1, Article 19 of xem bóng đá trực tiếp nhà cái Personal Income Tax Law No. 04/2007/QH12, amended and supplemented according to Law No. 26/2012/QH13, as follows:

1. xem bóng đá trực tiếp nhà cái deductionfor taxpayers is 11 million VND/month (132 million VND/year);

2. xem bóng đá trực tiếp nhà cái deductionper dependent is 4.4 million VND/month.

Teachers receivingsalaries under 11 million VND/month are eligible for personaldeduction when calculating PIT.

Teachersreceivingsalariesover 11 million VND/month must pay PITbut may enjoy an additional deduction of 4.4 million VND/month if they have dependents.

How to calculate salaries paid toteachers who are public employees in Vietnam from July 1, 2024?

xem bóng đá trực tiếp nhà cái salary shall be calculated bythe salary coefficient ofthe professional title oftheteacher.

Furthermore, when xem bóng đá trực tiếp nhà cái statutory pay rate is increased to 2,340,000 VND/month (according to xem bóng đá trực tiếp nhà cái formula in Clause 2, Article 3 ofDecree No. 73/2024/ND-CP), xem bóng đá trực tiếp nhà cái salaries paid toofficials and public employees are calculated according to xem bóng đá trực tiếp nhà cái regulations in Article 3 ofCircular 07/2024/TT-BNVas follows:

Salary = 2,340,000 VND/month x salary coefficient

*Unit: VND/month

Note:xem bóng đá trực tiếp nhà cái salary mentioned above does not include allowances that officials and public employees receive.