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Residents in Vietnam are subject to tax on their worldwide income. An individual is resident if he/she has been in Vietnam for 183 days or more in 12 consecutive months or in a calendar year, has a residence in Vietnam or a leasing contract in Vietnam with a term of 90 days or more within the tax assessment year. Individuals who do not satisfy any of the above conditions are classified as nonresidents and are taxed only on Vietnam-source income.

Taxable income and rates
Determination of taxable income

Taxable income is grouped into employment income, private business income and non¬employment income. Employment income includes salaries and wages and all forms of remuneration, while private business income derives from private business and independent professional activities. Non-employment income includes:

•           Dividends (except for government bonds);

•           Interest (except for bank deposit and life insurance);

•           Royalties;

•           Gains on the transfer of shares in companies or securities;

•           Gain on the transfer of real property; and

•           Inheritances and gifts (in excess of VND 10 million).

Certain employment income items relating to an expatriate's assignment in Vietnam are exempt, including: a one-time relocation allowance, one round trip air ticket for annual leave back to the home country, school fees paid by the employer from primary school to high school and the protion of a housing allowance over 15% of the total taxable income base.

As from 1 January 2009, resident taxpayers are entitled to deductions to reduce taxable employment income or private business income. A personal deduction of VND 4 million per month is granted to each taxpayer, a VND 1.6 million per month deduction is granted for each dependent; and a deduction is available for charitable and humanitarian donations based on the actual amount of the donation.

Tax rate
Employment income of residents is subject to progressive tax rates ranging from 5% to 35%. Nonresidents are subject to a flat rate of 20% on Vietnam-source income. Non-employment income is subject to a flat tax rate ranging from 0.1% to 25%, depending on the type of income.

Special expatriate tax regime
There is no special regime applicable to expatriates.

Capital taxes
As from 1 January 2009, personal capital gains are treated as non-employment income and subject to tax as mentioned above.


Source: Deloitte

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