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4 salaries and wages are exempt from income tax in 2022

Employees earning income from salaries and wages in the following 4 cases will be exempt from personal income tax according to Article 4 of the Law on Personal Income Tax 2007 (amended and supplemented in 2014):

– The part of the salary for night work and overtime work is paid higher than the salary for daytime and overtime work as prescribed by law.

– Pensions paid by the Social Insurance Fund;

– The pension is paid by the voluntary pension fund every month.

– Incomes from salaries and wages of Vietnamese seafarers working for foreign shipping lines or Vietnamese shipping lines for international transport.

4 salaries and wages are exempt from income tax in 2022 - 1

People working with tax authorities in Ho Chi Minh City. Photo: HOANG GIANG

In addition to the above-mentioned salary incomes, individuals will be exempt from tax in many other cases including:

– Income from real estate transfer between husband and wife; biological father, natural mother with natural child; adoptive father, adoptive mother with adopted child; father-in-law, mother-in-law with daughter-in-law; father-in-law, mother-in-law with son-in-law; grandfather, grandmother with grandson; grandparents, grandmothers with grandchildren; brothers, sisters, siblings together.

– Income from the transfer of houses, residential land use rights and properties attached to residential land of individuals in case the individual has only one house or only residential land.

– Income from the value of land use rights of individuals allocated land by the State.

– Income from inheritance, gifts being real estate between husband and wife; biological father, natural mother with natural child; adoptive father, adoptive mother with adopted child; father-in-law, mother-in-law with daughter-in-law; father-in-law, mother-in-law with son-in-law; grandfather, grandmother with grandson; grandparents, grandmothers with grandchildren; brothers, sisters, siblings together.

– Incomes of households and individuals directly engaged in agricultural production, forestry, salt making, aquaculture and fishing, which have not yet been processed into other products or are only preliminarily processed.

– Income from agricultural land conversion of households and individuals allocated by the State for production.

– Income from interest on deposits at credit institutions, interests from life insurance contracts.

– Income from remittances, income from scholarships

– Income from life insurance contract, non-life insurance, workers’ accident compensation, state compensation and other compensations as prescribed by law.

– Income received from charity fund established or recognized by a competent state agency, operating for charity and humanitarian purposes, not for profit.

– Income received from foreign aid for charity and humanitarian purposes in the form of government and non-governmental approved by competent state agencies.

– Income of individuals being ship owners, individuals with the right to use ships and individuals working on ships from activities of providing goods and services directly serving offshore fishing and fishing activities.

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