The new circular widened ranges of subjects could be deducted personal income tax. These subjects are individuals singing contracts with organizations located at economic zones, or individuals working at waste treatment facilities outside economic zones.
Deducted tax is computed as following: To resident individuals, there are two cases, i.e. temporary payment and compulsory payment calculated based on taxable income at economic zones; calculate through ratio of income at economic zone to total income, in case of having other incomes outside economic zones.
To nonresident individuals, personal income tax is deducted based on total taxable income with a 50% deduction to all subjects. Tax payers declare and settle tax according to current regulations.
Circular 128/2014/TT-BTC comes into effect from 20th October 2014.
Reported by T.Huynh – Translated by Ngoc Huynh
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