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Foreign experts to enjoy tax breaks

Update: February, 25/2016 - 10:22
Prime Minister Nguyen Tan Dung has signed Decision No. 6 on the exemption of personal income tax for foreign experts working on foreign aid projects in Viet Nam. — VNA/VNS Illustrative Image

HA NOI (VNS) — Prime Minister Nguyen Tan Dung has signed Decision No. 6 on the exemption of personal income tax for foreign experts working on foreign aid projects in Viet Nam.

The decision, issued on February 22, applies to foreign experts who have been officially selected to directly carry out the activities of foreign aided projects in Viet Nam, based on the agreement between the foreign non-governmental organisation (NGO) and Vietnamese project management organisation, which complies with Viet Nam's regulations on managing and using foreign aid.

The experts must be foreign nationals and possess a contract that has been signed between them and the foreign NGO, or with the project management organisation, or with the owner of the foreign aid in Viet Nam.

Notably, the contract signed between the experts and the foreign NGO must include an annex from the owner of the foreign aid in Viet Nam, confirming that the experts will directly participate in the projects that have been approved by the authorities.

Only the income that the experts receive directly from the projects will receive tax exemption.

The decision will take effect from May 1.

Also, the prime minister has signed Decision No. 07 on the exemption of personal income tax for Vietnamese individuals, who work at the representative offices of international organisations that belong to the United Nations (UN) in Viet Nam.

To receive income tax exemption, individuals must be Vietnamese nationals, and must be full-time employees of the UN international organisations, as stated in the list of employees submitted to the tax agencies.

Only the income that these individuals receive from the UN organisations' representative offices will receive tax exemption.

The decision will take effect from May 1.

It does not apply to Vietnamese individuals who work part-time at the UN international organisations' representative offices in Viet Nam. — VNS

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