Are incomes from trading virtual currency subject xoilac tv trực tiếp bóng đá hôm nay personal income tax in Vietnam?

Hello, Lawnet would like xoilac tv trực tiếp bóng đá hôm nay answer the following questions:

Specifically, in the JudgmentBản án vềdated September 21, 2017 on the lawsuit against the decision on tax arrears, the following contents are stated:

"From mid-2008 xoilac tv trực tiếp bóng đá hôm nay 2013, Mr. C participated in the exchange of virtual currency via the Internet. By September 2013, he had been invited xoilac tv trực tiếp bóng đá hôm nay work by Agency A of the Ben Tre Provincial Police many times because he had participated in activities related xoilac tv trực tiếp bóng đá hôm nay virtual currency. On October 19, 2015, Agency A issued Official Letter No. 87/ANDT requesting that Department T study and handle administrative violations of tax arrears for his act of buying and selling virtual currency on the Internet.

On May 13, 2016, he received Decision No. 714/QD-CCT dated May 12, 2016 from the Director of Sub-Department T. In the remedial measure, the total tax he has xoilac tv trực tiếp bóng đá hôm nay pay is VND 2,649,377,069, specifically: value added tax: VND 981,527,006, personal income tax: VND 1,667,850,063. Thus, the amount of income tax that he has xoilac tv trực tiếp bóng đá hôm nay pay is too high, more than the total profit before tax (1,358,393,508 VND) that he has obtained according xoilac tv trực tiếp bóng đá hôm nay the investigation results of the competent authority.

On June 15, 2017, Mr. C filed a complaint against the tax arrears decision of the Director of Sub-Department T."

The People's Court of Ben Tre Province concluded:Decision No. 714/QD-CCT dated May 12, 2016 of the Director of Sub-Department T, based on Official Letter No. 4356/BTC-TCT dated April 1, 2016 of the Ministry of Finance stating: "… digital currency trading activities are goods trading activities and are classified as commercial business activities; digital currency is subject xoilac tv trực tiếp bóng đá hôm nay value added tax, and individuals trading digital currency are subject xoilac tv trực tiếp bóng đá hôm nay personal income tax…" is beyond the promulgation authority as prescribed in the Law on Promulgation of Legislative Documents.

Court decisions:accepting the petition of Mr. Nguyen Viet C, sentenced: xoilac tv trực tiếp bóng đá hôm nay canceling Decision No. 714/QD-CCT dated May 12, 2016 of the Director of Sub-Department T on the application of remedial measures against Decision No. 1002/QD-CT dated May 18, 2017 of the Director of Department T on the settlement of the complaint of Mr. Nguyen Viet C.

Currently, trading digital currency through the internet is easy and popular. When generating income from this sale, whether it is compulsory xoilac tv trực tiếp bóng đá hôm nay pay value added tax, personal income tax is a question that many people are interested in.

Thus, in order xoilac tv trực tiếp bóng đá hôm nay determine whether an individual who earns income from trading virtual money is subject xoilac tv trực tiếp bóng đá hôm nay VAT and PIT, it is necessary xoilac tv trực tiếp bóng đá hôm nay determine "is digital money subject xoilac tv trực tiếp bóng đá hôm nay tax".

The provisions of Article 3 of theLuật Thuế giá trị đá bóng trựcare as follows:

Article 3.- Taxable objects

Goods and services used for production, trading or consumption in Vietnam are subject xoilac tv trực tiếp bóng đá hôm nay value-added tax, except those specified in Article 5 of this Law.

Thus, the object subject xoilac tv trực tiếp bóng đá hôm nay VAT according xoilac tv trực tiếp bóng đá hôm nay current law provisions are "goods and services used for production, trading or consumption in Vietnam..."

According xoilac tv trực tiếp bóng đá hôm nay the provisions of Articles 2 and 3 of theLuật Thuế thu bóng đá hôm nay trực:

Article 2. Taxpayers

1. Personal income taxpayers include residents who earn taxable incomes specified in Article 3 of this Law inside and outside the Vietnamese territory and non-residents who earn taxable incomes specified in Article 3 of this Law inside the Vietnamese territory.

…

Article 3. Taxable incomes

Incomes liable xoilac tv trực tiếp bóng đá hôm nay personal income tax include the following kinds of income, except for incomes eligible for tax exemption specified in Article 4 of this Law:

1. Incomes from business activities, including:

a/ Incomes from goods production or trading or service provision;

…

According xoilac tv trực tiếp bóng đá hôm nay the above regulations, PIT payers are "residential individuals earning taxable incomes from production and business activities of goods and services".

According xoilac tv trực tiếp bóng đá hôm nay the above regulations, PIT payers are "residential individuals earning taxable income from the production and business activities of goods and services".

In addition,xoilac tv trực tiếp bóngamends a number of articles ofNghị định 101/2014/NĐ-CPstipulating non-cash payment means used in payment transactions include: checks, payment orders, payment orders, collection requests, collection orders, bank cards, and other payment means according xoilac tv trực tiếp bóng đá hôm nay the regulations of the State Bank." According xoilac tv trực tiếp bóng đá hôm nay this regulation, payment methods such as bitcoin and similar virtual currencies are illegal means of payment.

In Clause 6, Article 27 ofNghị định 96/2014/NĐ-CPalso stipulates that "a fine of between VND 150 million and VND 200 million shall be imposed on acts of issuing, supplying, and using illegal means of payment."

Issuing, supplying, and using illegal means of payment such as Bitcoin virtual currency is prohibited, so Mr. C will not be able xoilac tv trực tiếp bóng đá hôm nay establish a business in this industry according xoilac tv trực tiếp bóng đá hôm nay the laws of Vietnam.

The legal framework for digital currency (virtual currency) as well as the act of buying and selling virtual currency over the Internet is being completed. Currently, there is no legal document defining digital currency, virtual currency as a commodity, or trading in digital currency (virtual currency) as a business of goods that is permitted by law and subject xoilac tv trực tiếp bóng đá hôm nay tax.

Therefore, at a time when the law has not adjusted xoilac tv trực tiếp bóng đá hôm nay this new form of business and means of payment, the purchase and sale of virtual currency via the internet are not subject xoilac tv trực tiếp bóng đá hôm nay PIT and VAT.

PleaseLoginxoilac tv trực tiếp bóng đá hôm nay be able xoilac tv trực tiếp bóng đá hôm nay download