NEWSLETTER JULY 2024
Personal income tax (“PIT”) policy on gift On 12 July 2024, Hanoi Tax Department issued Official Letter No. 40757/CTHN-TTHT as follows: In case employees are given gift by a company in the form of gift vouchers and tangible gift (these are paid according to the company’s welfare policy), these are considered as monetary or non-monetary benefit other than salary or wages paid by the employer according to the provision of Clause 2, Article 2 of Circular No. 111/2013/TT-BTC dated 15 August 2013 of the Ministry of Finance (Circular 111). The time to determine taxable income is when the company pays...