OFFICIAL LETTER NO. 12495/BTC-TCT DATED 06 SEPTEMBER 2014 OF MOF IN GUIDANCE OF CIT POLICY FOR ESTIMATED TAX, ESTIMATED HOUSING RENT
According to official letter No. 12495/BTC-TCT:
Employers withhold the estimated tax before paying income and pay tax on behalf of employees, PIT payable must be calculated as follows:
For example:
Mr. A- American nationality, assigned to work in VN for 3 years, starting from Jan 2014, with the information of monthly income in VN as below:
|
No.
|
Description
|
Amount (million VND/month)
|
|
1
|
Monthly salary
|
215,00
|
|
2
|
Monthly living allowance in VN
|
33,00
|
|
3
|
Travel allowance in VN in cash
|
10,00
|
|
4
|
The withheld estimated tax and paying on behalf of Mr. A with actual amount from salary, wage in VN.
|
75,25
|
|
5
|
Mr. A is a resident individual, does not have dependents nor contributions of charity, humanity, education promotion. Mr. A is deducted for himself.
|
9,00
|
|
6
|
Net income [=(1)+(2)+(3)-(4)-(5)]
|
173,75
|
|
7
|
Assessable income
|
252,15
|
|
8
|
PIT payable in VN
|
78,40
|
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