THE NATIONAL
ASSEMBLY
------- |
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness ---------- |
No. 26/2012/QH13
|
Hanoi, November
22, 2012
|
LAW
Pursuant to the 1992 Constitution of the
Socialist Republic of Vietnam, which was amended and supplemented a number of
articles under the Resolution No. 51/2001/QH10;
The National Assembly promulgates the Law
on amending and supplementing a number of articles of the Law on personal
income tax No. 04/2007/QH12,
Article 1.
To amend and supplement a number of
articles of the Law on personal income tax:
“2. Incomes from salaries and wages,
including:
a) Salaries, wages and amounts of similar
nature;
b) Allowances, subsidies, except for
amounts: Those paid under legal provisions on preferential treatment of persons
with meritorious services; defense or security allowances; hazard or danger
allowances for persons working in branches, occupations or jobs at places where
exist hazardous or dangerous elements; allowances for attraction of laborers to
work in certain branches or in certain regions specified by law; allowances for
sudden difficulties, allowances for laborers having labor accident or suffering
from occupational disease, lump-sum maternity or child adoption allowances;
allowances for working capacity loss, lump-sum retirement allowances, monthly
survivorship allowances and other allowances as prescribed by law on social
insurance; , severance and job-loss allowances specified in the Labor Code;
subsidies of social relief nature and other allowances, subsidies without
nature of salaries, wages as prescribed by the Government.”
“5. Incomes from transfer of real estate,
including:
a) Incomes from transfer of rights to use land and assets attached to land;
b) Incomes from transfer of right to own
or use residential houses;
c) Incomes from transfer of right to lease
land or water surface;
d) Other incomes earned from transfer of
real estate under any form.”
“10. Retirement pensions paid by the
Social Insurance Fund; retirement pensions paid monthly by the Voluntary Retirement Fund.”
“c. Tax period upon each transfer or
annual tax period, which is applicable to Incomes from transfer of securities.”
“1. Reduction based on family
circumstances means a sum of money deductible from pre-tax income from
business, salary or wage of a resident taxpayer. Reduction based on
family circumstances consists of the following two parts:
a) Reduction for the taxpayer, which is
VND 9 million/month (VND 108 million/year);
b) Reduction for each dependant of the
taxpayer, which is VND 3.6 million/month.
In case the Consumer Price Index (CPI)
changes over 20% compared to the effective time of the Law or the latest time
point of adjusting the reduction based on family circumstances, the Government
submits to the Standing committee of the National Assembly for adjustment of
the reduction based on family circumstances specified in this clause in
conformity with changes of price in order to apply for the next tax term.”
“1. A taxed income from business, salary
or wage is the total of taxable incomes specified in Articles 10 and 11 of this
Law minus premiums of social insurance, health insurance, unemployment
insurance and professional liability insurance for some professions and jobs
subject to compulsory insurance, the Voluntary Retirement
Fund and reductions specified in Articles 19 and 20 of this Law.
The Government shall stipulate the maximum
level permitted to minus for amounts of contribution in the Voluntary Retirement Fund specified in this clause.”
“Article
24. Responsibilities
of income-paying organizations and individuals and responsibilities of resident
taxpayers
1. Responsibility to make tax declaration,
withholding, payment and finalization is specified as follows:
a) Income-paying organizations and individuals shall make tax declaration,
withhold and remit tax into the state budget, and make tax finalization for all
kinds of taxable income they pay to taxpayers;
b) Individuals who have taxable incomes
shall make tax declaration, pay tax into the state budget and make tax
finalization as prescribed by law.
2. Income-paying organizations and
individuals shall supply information on incomes and dependants of taxpayers
under their management as prescribed by law.
3. The Government shall specify tax
withholding rates suitable to each kind of income specified at Point a, Clause
1 of this Article and the tax finalization specified in clause 1 of this
Article."
Article 2.
1. This Law takes effect on July 01, 2013.
2. The Government shall detail and guide the
implementation of articles, clauses assigned in the Law.
This Law was
passed on November 22, 2012, by the XIIIth National Assembly of the
Socialist Republic of Vietnam at its 4th session.
CHAIRMAN
OF THE NATIONAL ASSEMBLY
Nguyen Sinh Hung |
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