Transfer of Internet domain names, SIM cards and phone numbers may be subject to tax

ANTD.VN - The draft proposal for the development of the Law on Personal Income Tax (replacement) proposes many types of taxable income such as income from transferring Internet domain names, SIM cards - phone numbers, income from inherited assets, cash...

Transfer of SIM card number also requires tax payment

According to the current Law on Personal Income Tax (PIT), there are 10 types of taxable income, including: income from business; income from salaries and wages; income from capital investment; income from capital transfer; income from real estate transfer; income from winning prizes; income from royalties; income from franchising; income from inheritance; income from receiving gifts.

According to the Ministry of Finance , the above regulations are basically consistent with the practical socio-economic situation and forms of activities in people's lives, and are also consistent with international practices in general. However, along with the development of socio-economic life and new forms of business activities, a number of other personal incomes have arisen in addition to the types of taxable income prescribed above, and are often other incomes of a specific nature such as income from the transfer, liquidation of assets, property rights such as Internet domain names, SIM cards - phone numbers...

Income from the transfer of assets and property rights is similar in nature to some irregular income (current income) currently subject to personal income tax such as income from royalties, income from franchising...

Transferring SIM cards - nice numbers may be subject to personal income tax

Through reviewing the experiences of other countries, in addition to the types of taxable income as currently regulated in Vietnam, there are often principled regulations to ensure coverage for other incomes (or income of an unusual nature) of individuals.

Therefore, the Ministry of Finance proposes to review and supplement regulations on taxable income in the direction of adding other income groups (and assigning the Government to specify details to suit the actual situation) or specify other income (income from transfer, liquidation of assets such as internet domain names, SIM cards - phone numbers...) as taxable income.

Cash inheritances may also be taxable.

In addition, the draft Law also proposes to expand the scope of income from inheritance and gifts. The Ministry of Finance believes that the current Personal Income Tax Law only stipulates tax collection on inherited assets and gifts that are securities, capital in economic organizations, business establishments, real estate and other assets that must be registered for ownership or registered for use, without collecting personal income tax on a type of inherited assets that many countries in the world have applied.

Through reviewing international experience, many countries tax inheritance and gifts based on value, including both assets and cash. For example, in Thailand, assets subject to inheritance tax include real estate, securities as prescribed by law, bank deposit accounts or other similar currencies, registered vehicles and financial assets. Korea, Japan, Taiwan... stipulate personal income tax on inheritance including all inherited assets.

Accordingly, to ensure comprehensiveness and fairness in implementing tax obligations for the same type of income, in accordance with current civil laws on inheritance and forms of inheritance, the Ministry of Finance believes that it is necessary to review, study, amend and supplement regulations on income from inheritance and gifts in the Law on Personal Income Tax to suit reality.

Source: https://www.anninhthudo.vn/chuyen-nhuong-ten-mien-internet-sim-so-dien-thoai-co-the-phai-chiu-thue-post596662.antd