Question
Law on Personal Income Tax in Vietnam No. 04/2007/QH12 dated November 21, 2007, took effect from January 01, 2009. It was amended and supplemented by the Law No. 26/2012/QH13 on amending and supplementing some articles of the Law on Personal Income Tax which took effect from July 01, 2013; and by the Law No. 71/2014/QH13 dated November 26, 2014 on amending and supplementing some articles of the Law on taxes which took effect from January 01, 2015. Then it was consolidated at Law on Personal Income Tax No. 15/VBHN-VPQH dated December 11, 2014.
Answer
Some remarkable provisions in the Law on Personal Income Tax (PIT) No. 15/VBHN-VPQH dated December 11, 2014 are:
Personal income taxpayers include residents who earn taxable incomes specified in Article 3 of this Law inside and outside the Vietnamese territory and non-residents who earn taxable incomes specified in Article 3 of this Law inside the Vietnamese territory (Clause 1 Article 2);
Taxable incomes (Article 3);
Tax-exempt incomes (Article 4);
Taxable incomes, Reductions and Assessable income, applicable to Tax Residents (from Article 10 to Article 21);
Taxable incomes, Reductions and Assessable income, applicable to Non-Residents (from Article 10 to Article 21);
Tax on incomes and Time of determination of taxable income, applicable to Non-Residents (from Article 25 to Article 32).
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