THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Foreigners to pay income tax for bond and short-term saving interests
VGP – Foreign enterprises or individuals who operate their businesses in Việt Nam and earn some sorts of incomes must pay income tax for interests from their bonds and short-term saving certificates.
The regulation was stated in recently-issued Circular 64/2010/TT-BTC of
the Ministry of Finance, which aims at modifying and complementing to the previous
circular issued in 2008.
Illustration
photo
The new document
defines two kinds of income earned by foreign entities in Việt
For the transfer of stocks,
bonds, and short-term saving
certificates, the income tax will be calculated based on the total sale at
the moment of transfer. Meanwhile, in the 2008 circular, the income tax for
bond interests was based on the total sale at the time of receiving interests.
The Circular will
come into force within 45 days from the signing date.