Specifically, the Ministry of Finance proposes to exempt the following items from personal income tax:
1. Income from transfer, inheritance, and gifts of real estate between husband and wife; biological father, biological mother and biological child; adoptive father, adoptive mother and adopted child; father-in-law, mother-in-law and daughter-in-law; father-in-law, mother-in-law and son-in-law; paternal grandfather, paternal grandmother and grandson; maternal grandfather, maternal grandmother and granddaughter; siblings.
2. Income from transfer of residential houses, land use rights and assets attached to residential land of individuals in cases where individuals have only one residential house or land.
3. Income from the value of land use rights of individuals to whom the State allocates land.
4. Income of households and individuals directly producing crops, planted forests, livestock, aquaculture, and fishing products that have not been processed into other products or have only undergone conventional preliminary processing; salt production; income from dividends of members of cooperatives, agricultural cooperative unions, and individual farmers who sign contracts with enterprises participating in "Large Fields", planting production forests, and aquaculture.
5. Income from conversion of agricultural land of households and individuals assigned by the State for production.
6. Income from interest on government bonds, interest on treasury bills, interest on deposits at credit institutions, interest from life insurance contracts.
7. Income from remittances.
8. Wages for night work and overtime are paid higher than wages for day work and working within hours as prescribed by law.
9. Pensions paid by the Social Insurance Fund; pensions paid by the supplementary pension insurance fund and voluntary pension funds.
10. Income from scholarships, including:
a) Scholarships received from the state budget;
b) Scholarships received from domestic and foreign organizations under the organization's scholarship support program.
11. Income from life and non-life insurance contract compensation, occupational accident compensation, state compensation and other compensation as prescribed by law.
12. Income received from organizations and charitable funds permitted to be established or recognized by competent state agencies, operating for charitable and humanitarian purposes, not for profit.
13. Income received from foreign aid for charitable and humanitarian purposes in the form of Government and non-governmental funds approved by competent state agencies.
14. Income from salaries and wages of Vietnamese crew members working for foreign shipping companies or Vietnamese shipping companies operating internationally.
15. Income of individuals who are ship owners, individuals who have the right to use ships and individuals who work on ships from activities of providing goods and services directly serving offshore fishing and exploitation activities.
16. Income from the first transfer of emission reduction certificates, carbon credit transfers after issuance by individuals granted emission reduction certificates, carbon credits; income from green bond interest; income from the first transfer of green bonds after issuance.
17. Income from salaries and wages from performing scientific and technological tasks using the state budget; income from salaries and wages from performing scientific, technological and innovation tasks using the state budget.
18. Income from legal work.
19. Income of individual investors, experts working for innovative startup projects, founders of innovative startups, individual investors contributing capital to venture capital funds.
20. Income from copyright of scientific, technological and innovative tasks when the results of the tasks are commercialized according to the provisions of the law on science, technology and innovation and the law on intellectual property.
21. Income from transfer of shares, capital contributions, capital contribution rights, rights to purchase shares, rights to purchase capital contributions in innovative start-up enterprises.
22. Income after paying corporate income tax of private enterprises and single-member limited liability companies owned by individuals.
Taxpayers facing difficulties due to natural disasters, fires, accidents, or serious illnesses that affect their ability to pay taxes will be considered for tax reduction corresponding to the level of damage but not exceeding the amount of tax payable.
Personal income tax exemption for income from salaries and wages of foreign experts working in programs and projects funded by non-refundable ODA capital, foreign non-governmental programs and projects in Vietnam; Vietnamese individuals working at representative offices of international organizations of the United Nations System in Vietnam.
Exemption from personal income tax for 02 years and 50% reduction of tax payable for the next 04 years for income from salaries and wages of experts and scientists received from innovative startups, research and development centers, innovation centers, and intermediary organizations supporting innovative startups.
50% reduction in personal income tax on income from salaries and wages of individuals who are high-tech human resources working in enterprises and projects in the fields of high technology, high-tech application, information technology, science and technology, innovation and digital transformation and a number of priority development fields according to the orientation of the Party and State.
The Ministry of Finance is soliciting comments on this draft on the Ministry's Electronic Information Portal.
Source: https://baolaocai.vn/thu-nhap-duoc-mien-thue-thu-nhap-ca-nhan-post649488.html
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