blue-check Regarding PIT on incomes paid in VND

Official letter No. 2654/TCT-DNNCN dated July 19th, 2021 of the General Department of Taxation regarding personal income tax (PIT) policy.
Posted: 20/7/2021 7:13:50 AM | Latest updated: 21/7/2021 3:50:18 PM (GMT+7) | LuatVietnam: 5253 | Vietlaw: 525

According to Article 13 of Circular No. 92/2015/TT-BTCstatus2 , when paying income in a foreign currency, it is required to convert the foreign currency into the Vietnamese dong (VND) to calculate tax.

Accordingly, in case a company pays incomes to its employees in VND, it shall withhold, declare and pay tax based on the paid incomes without having to convert such incomes

It should note that the withholding of PIT on incomes from salary, wage shall be made at the time of paying the incomes (point b clause 2 Article 8 of Circular No. 111/2013/TT-BTCstatus2 ).

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Published Vietlaw's Newsletter No. 525
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