Vietnam: Living There - Tax Issues

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Living There

Residents pay tax on their worldwide income.

Foreigners residing in Vietnam are taxed as follows on employment income:

INCOME TAX, PHP (US$)
TAXABLE INCOME, PHP (US$)	MARGINAL TAX RATE
Up to 96,000,000 (US$5,762)	nil
96,000,000 - 240,000,000 (US$14,406)	10% on band over US$5,762
240,000,000 - 600,000,000 (US$36,015)	20% on band over US$14,406
600,000,000 - 960,000,000 (US$57,624)	30% on band over US$36,015
Over 960,000,000 (US$57,624)	40% on all income over US$57,624
Source: Global Property Guide

Capital Gains Tax

Capital gain tax is payable on each sale or transfer of a house or the right to use land in Vietnam by an individual not registered as a real estate agent. The gain is the difference between the selling price and the cost price. The cost price includes the acquisition or construction costs, improvement costs, transfer costs, and other costs incurred before the sale or transfer of the property took place.

Capital Gains Tax payable by residents is as follows:

CAPITAL GAINS
TAXABLE GAIN, VND (US$)	Marginal Tax Rate
Up to 1,800,000 (US$108)	nil
1,800,000 - 3,800,000 (US$228)	5% on band over US$108
3,800,000 - 9,500,000 (US$570)	10% on band over US$228
9,500,000 - 19,000,000 (US$1,140)	15% on band over US$570
19,000,000 - 28,000,000 (US$1,681)	20% on band over US$1,140
28,000,000 - 50,000,000 (US$3,001)	30% on band over US$1,681
Over 50,000,000 (US$3,001)	60% on all gains over US$3,001
Source: Global Property Guide

Vietnam - more data and information

Lawyers (attorneys) with property law practices in Vietnam