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Vietnam Income Tax Rate for 2017, 2016, 2015, 2014, 2013

Vietnam Personal Income Tax Rate

Regular income tax rates for Vietnamese citizens and other residents in Vietnam

Annual Taxable Income (VND Million)

 

Tax Rate

0 to 60

5%

60 to 120

10%

120 to 216

15%

216 to 384

20%

384 to 624

25%

624 to 960

30%

Over 960

35%

 

Note: Please confirm the latest tax rate from the government sources

Personal deductions (per month)

From 1 July 2013
Self VND 9,000,000
Dependant VND 3,600,000

Social insurance, health insurance and unemployment insurance Rates for the year 2014

Social insurance (SI) 8%
Health insurance (HI) 1.5%
Unemployment insurance (UI) 1%

Base salary (per month) for the year 2014
VND 23,000,000 per month

Value added tax (VAT)
Standard rate 10%
Reduced rate 5%

Corporate income tax (CIT)
Standard rate for enterprises 22%

Foreign contractor tax (FCT)
Value added rates as a percentage (%) of taxable turnover %

1. Services (except oil drilling), leasing of machinery and equipment, and insurance. 50

2 Oil drilling services 70

3. (a) Construction, assembly and installation where the tender includes the supply of materials, machinery and equipment in the construction work. 30

(b) Construction, assembly and installation where the tender does not include the supply of materials, machinery and equipment in the construction work. 50

4. Transportation and other business and production. 30 Corporate income tax rates as a percentage (%) of taxable turnover: %

1. Trading: distribution and supply of goods, raw materials, supplies, machinery and equipment associated with services in Vietnam (including the supply of goods in the form of on-the-spot export (except processing goods for foreign organisations and individuals); and the supply of goods under DDP, DAT, DAP terms of Incoterms) 1

2. Services, leasing of machinery and equipment and insurance. 5

3. Management services of restaurants, hotels and casinos 10

4. Leasing of aircraft, aircraft engines, aircraft spare parts and sea going vessels.

5. Construction and installation regardless of whether the tender includes or does not include the supply of materials, machinery and equipment in the construction work 2

6. Other production or business activities and transportation (including sea and air transportation). 2

7. Assignments [transfers] of securities, reinsurance and commissions from reinsurance. 0·1

8. Derivatives 2

9. Loan interest. 5

10. Income from royalties. 10

Vietnam Income Tax Rates 2014 and Deductions

Vietnam Income Tax Rate for Individual Tax Payers

Lowest Individual Tax Rate is 5 % and Highest Rate is 35%

Annual Taxable Income (VND Million)

 

Tax Rate

0 to 60

5%

60 to 120

10%

120 to 216

15%

216 to 384

20%

384 to 624

25%

624 to 960

30%

Over 960

35%

 

 

Vietnam Residents Tax on Other Income

Type of taxable income  and Tax rate
Interest/ dividends 5%

Sale of shares:
Net gain; or 20%
Sales proceeds 0.1%

Capital assignment
Net gain 20%

Sale of real estate:

Net gain; or 25%
Sales proceeds 2%
Income from copyright 5%
Income from franchising/royalties 5%
Income from winning prizes 10%
Income from inheritances/gifts 10%

Taxation in Vietnam for Non-residents

Type of taxable income and Tax rate
Employment income 20%
Business income 1% - 5%

(based on type of business income)
Interest/ dividends 5%
Sale of shares 0.1%

(on sales proceeds)
Sale of real estate 2%

(on sales proceeds)
Income from royalties / Franchising 5%
Income from inheritance/ Gifts/ Winning 10%

Corporate Tax Rates in Vietnam

The standard tax rate is reduced to 22% from 1 January 2014. From 2016 it will be further reduced to 20%. Special or preferential tax rates of 10% or 20% can be granted to encouraged investment projects. Certain industries may have a higher tax rate applied (e.g. oil and gas operations and natural resources exploitation from 32% to 50%).

Capital Gains Tax in Vietnam

Income from transfer of real estate is taxed 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

Land Tax
Non-agricultural land is subject to land tax at progressive rates, from 0.03% to 0.15%. The tax base is the land area used based on the prescribed price per square meter.

Withholding Tax Rate in Vietnam

Dividends paid to non-resident corporate investors are not subject to withholding tax. Royalties paid to a foreign party for the right to use or license of patents, inventions, industrial property, designs, trademarks, copyright and technical know how (broadly referred to as ‘transfer of technology’) are subject to withholding tax of 10 percent. Where a tax treaty provides for a lower rate and conditions are met, the tax treaty rate should apply. Withholding tax of 5 percent is applicable to interest and any other amounts charged by the offshore lender in connection with loan agreement. An offshore loan provided by certain government or a semi-government institution may be eligible for an exemption, where a tax treaty applies. Vietnam has a ‘foreign contractor tax’ regime. The regime covers the taxation of outbound cross-border remittance of contract payments by a resident entity to overseas goods and services providers. Refer to the ‘Other Taxes’ section for further details.

Vietnam Due Dates for filing Returns / Reporting and Payment

Year End is 31st December. Last date to file Tax Return is 30th March.

 

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