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Vietnam to Release Personal Tax Numbers By Early Next Year - Vietnam Briefing News

Nov. 25 – Vietnam's tax department will release the personal tax numbers of three million people by early next year when the Law on Personal Income Tax is implemented beginning January 1.

In the first three months of 2009, 15 million people are expected to register for tax numbers, not including organizations and other people who already have the numbers.

The public is instructed to bring a photocopy of your identity card or passport to register.Tax official, Tran Ngoc Van, told The Vietnam News Agency that the new law will regulate all tax levels for those eligible to pay tax, as well as dependants, such as children, parents, and wives and husbands, who are also required to get their own personal tax numbers.

The new law rules that the minimum monthly taxable income is VND4 million VND for both locals and foreigners while the lowest marginal tax rate is 5 percent, and the highest rate is 35 percent.

This does not include taxing income of freelance laborers since the transaction is carried out with the proper documents or invoice. For dependents, there is a deduction of VND1.6 million per person.

Dependents should register annually, and a taxpayer can only choose one dependent a year.