Vietnam: Living There - Tax Issues
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Living There
INDIVIDUAL TAXATION
Residents pay tax on their worldwide income. Married couples are assessed separately and there is no provision for joint taxation.
INCOME TAX
Income earned by residents is taxed at progressive rates, from 5% to 35%.
INCOME TAX |
|
| TAXABLE INCOME, VND (US$) | |
| Up to 60,000,000 (US$3,580) | 5% |
| 60,000,000 - 120,000,000 (US$7,159) | 10% on band over US$3,580 |
| 120,000,000 - 216,000,000 (US$12,887) | 15% on band over US$7,159 |
| 216,000,000 - 384,000,000 (US$22,910) | 20% on band over US$12,887 |
| 384,000,000 – 624,000,000 (US$37,228) | 25% on band over US$22,910 |
| 624,000,000 – 960,000,000 (US$57,274) | 30% on band over US$37,228 |
| Over 960,000,000 (US$57,624) | 35% on all income over US$57,624 |
| Source: Global Property Guide | |
Residents are entitled to the following annual allowances:
- Single personal allowance - VND48,000,000 (US$2,864)
- Additional allowance for each dependent – VND19,000,000 (US$1,134)

CAPITAL GAINS TAX
Capital gains tax is levied at a flat rate of 25%. Taxable capital gains are computed by deducting the acquisition costs and incidental expenses from the gross sales proceeds.
If the acquisition costs cannot be determined or are not evidenced by supporting documents, the taxable gains will be the gross sales proceeds and will be taxed at a special rate of 2%.
PROPERTY TAX
There are no property taxes in Vietnam.
Vietnam - more data and information
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