Do you know that Vietnam has reduced its Value Added Tax from 10% to 8% in 2023. This tax bracket in Vietnam is for tax residents in Vietnam and tax brackets for nontax residents in Vietnam.
Another important thing residents and non-residents taxpayers in Vietnam should note is that when tax policy changes, so do the tax brackets and tax rates. Taxes, including personal income tax, expenses and limitations are reviewed by the Government in Vietnam periodically and typically updated each year
In this article, you will get to know the updated tax bracket in Vietnam for resident tax payers, the tax bracket for non-Vietnam residents in 2022, how much tax is withheld in Vietnam, and lots more.
The Tax bracket for Vietnam Resident 2023
The table below shows the tax rates, thresholds and allowance for Vietnam Resident tax payers:
|5%||Income from ₫0.00||to||₫60,000,000.00|
|10%||Income from ₫60,000,000.01||to||₫120,000,000.00|
|15%||Income from ₫120,000,000.01||to||₫216,000,000.00|
|20%||Income from ₫216,000,000.01||to||₫384,000,000.00|
|25%||Income from ₫384,000,000.01||to||₫624,000,000.00|
|30%||Income from ₫624,000,000.01||to||₫960,000,000.00|
|35%||Income from ₫960,000,000.01||And above|
Vietnam Tax bracket for non-residents taxpayers
Here in this table is the tax rates, thresholds and allowance for non Vietnam Resident:
|5||Income from ₫0.00||to||₫60,000,000.00|
|10||Income from ₫60,000,000.01||to||₫120,000,000.00|
|15||Income from ₫120,000,000.01||to||₫216,000,000.00|
|20||Income from ₫216,000,000.01||to||₫384,000,000.00|
|25||Income from ₫384,000,000.01||to||₫624,000,000.00|
|30||Income from ₫624,000,000.01||to||₫960,000,000.00|
|35||Income from ₫960,000,000.01||And above|
How much is income tax in Vietnam
In Vietnam, personal income tax rates are progressive to 35%. Nonresidents are taxed at a tax rate of 20%. Nonemployment income is taxed at rates from 0.1% to 25%. Individuals are responsible for self-declaration and payment of tax.
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Types of earnings in Vietnam subject to Person income tax
There are different types of earnings in Vietnam that are taxed. They are:
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