Vietnam: Living There - Tax Issues

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Last Updated: Dec 10, 2008

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$)	TAX RATE
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

Lawyers (attorneys) with property law practices in Vietnam