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New Circular providing Amendment and Supplement on Personal Income Tax

Global Tax Update:September 2015/Vietnam

On 15 June 2015, the Ministry of Finance issued Circular No. 92/2015/TT-BTC (“Circular 92”) to guide the implementation of Decree No. 12/2015/ND-CP dated 12 February 2015 (“Decree 12”) amending and supplementing a number of Personal Income Tax (“PIT”) regulations. (Global Tax Update: September 2015/Vietnam)

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Circular 92 shall come into effect from 30 July 2015 and will be applied from the tax year 2015. Below are some notable changes in Circular 92:

(1) Amendment on tax calculation method and tax rate for individual business income
(2) Amendment on exchange rates for converting taxable income into VND
(3) Supplement a number of non-taxable income items
(4) Supplementing a number of tax exempt items
(5) Other changes on tax withholding, declaration and finalization

 

>> Click for Japanese [個人所得税規定の補足修正を定める新Circular Circular No. 92/2015/TT-BTC関連]

(73KB, PDF)

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