Tax system
Chatting with the students in the computer lab about taxes, I learnt that no income tax is levied on earnings below 5,000,000 VND per month. This is approximately 300USD.
After this, 10% income tax is applied until earnings exceed 15,000,000 VND per month. The next bracket is 20% tax if your earnings are between 15,000,000 VND and 25,000,000 VND and continue up to 50% in 10,000,000 VND increments.
As many transactions are completed in cash, VAT can also be avoided.
After this, 10% income tax is applied until earnings exceed 15,000,000 VND per month. The next bracket is 20% tax if your earnings are between 15,000,000 VND and 25,000,000 VND and continue up to 50% in 10,000,000 VND increments.
As many transactions are completed in cash, VAT can also be avoided.
posted by Megan at 5:08 pm
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