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PERSONAL INCOME TAX ILLUSTRATIONS

Illustration for PIT on salary and wage PR1. Ms. Thuy is a Vietnamese citizen. In 2013, Ms. Thuys monthly income is as follows: salary from Rich textile company VND20 mil (after deducting compulsory insurance 9.5%); VND0.4 mil phone allowances, and VND 2mil responsibility allowances. Thuy has to take care of her parents out of working age who have pension VND400,000 per person per month. Compute Thuys PIT for Oct 2013, noted that her deductible charity contribution in Oct 2013 was VND 7 mil. b. Recalculate Thuys PIT for Oct 2013 if her parent pension is VND 2mil per person per month. c. Compute Thuys PIT for May 2013 if her parent pension is VND550,000 per person per month. a. PR2. Mr. Anhis a Vietnamese citizen. In Sep 2013, his income included: salary from the Bean Co. VND 20 million (after deducting compulsory insurance 9.5%); received a motorcycle as a gift from his aunt worth VND40 mil; VND 0.5 mil phone allowances, VND 2 mil position allowances. His wife is a state official, and they have two children under 18 years old. Compute Mr. Ans PIT in Sep 2013, noted that two children are registered as Ans dependents. Recalculate Mr. Ans PIT for Sep 2013 if salary from the Bean Co. VND 20 million (before deducting the compulsory insurance 9.5%)

Illustration for PIT on Business income PR3. Mr. X, Mr. Y and Mr. Z join in a business registed in HCM City (business groups and individuals). Their capital contribution rate is X 40%, Y 35%, and Z 25%. Tthe income subjected to personal income tax for the year 2012 was VND900 mil. Mr. X has a wife in the working age but prefer to stay at home doing housework, and they have 2 children under 18 years old. Mr. Y is divorced and has a son enrolling a college in the U.S. and parents over working age who dont have any income. Mr. Z has to take care of a younger brother who is disabled to work and does not have any income. Compute personal income tax of each person for the year 2012. PR4. Mr. Duc and his wife, Ms. Linh, Vietnamese citizens, have 2 children (2 and 5 years old). They have hired a house maid with VND 2 mil per month salary and taken care of a 76-year-old mother who has no income. In 2013, Ms. Linhs salary is $900 per month (before deducting the compulsory insurance 9.5%) while Mr. Ducs salary is $1000 per month (before deducting the compulsory insurance 9.5%). They also rent a house for VND40 mil per month with fixed taxable income ratio of 35% on the turnover. This house is the private

property of Mr. Duc before getting married. Compute monthly personal income tax for each person. Assume that the dependents registered under Ms.Linh. Given that the exchange rate is USD 1 = VND21,000. Do you have any advice for Mr. Duc and his wife on their tax savings? PR5. Mr. Tuan and Ms. Nga, Vietnamese citizens, have two children: a 10-year-old son and a 20-year-old daughter enrolling university who has no income. Ms. Nga has to take care of a 77-year-old father-in-law and 66 years old mother-in-law. Her mother in law has a small grocery store with monthly income of VND1.5 mil Ms. Ngas salary is VND9 mil per month (before deducting the compulsory insurance 9.5%). Mr. Tuans monthly income includes VND40 mil salary (before deducting the compulsory insurance 9.5%) and VND 3 mil travel and telephone allowance. They have a house for rent at VND 20 mil per month with fixed taxable income ratio of 40% on the turnover. This house is their property after getting married. The rent contract was signed under their names. Monthly, the spouse receive VND 4 mil interest on savings deposits at Vietcombank, and Ms. Nga receives $800 from her mom who lives in the U.S. a. Advise them a tax strategy for optimal tax savings. Basing on this strategy, compute monthly PIT of each person in Oct 2013. Assume that the exchange rate is USD 1 = VND21,000. b. How the answer changes if Mr. Tuans employer is unable to pay him the 3 months salary (Oct, Nov, Dec) until Jan 2014?

Illustration for Double Tax Treaties PR6. Fred, a Singapore citizen, have been working as a specialist for a branch of a foreign company in Vietnam since 2011. In 2013, Fred has the following income: total income from salary was $40,000 at the branch in Vietnam (after deducting the compulsory insurance 9.5%); $50,000 in the parent company abroad ($5,000 personal income tax has been paid in Singapore); $2,000 round-trip flight to Singapore. In addition, Fred stayed at a house rent by the branch with a total cost of $ 12,000. He contribute d to the SOS village orphans $5,000. Fred has 2 children under 15 years old and a working-age housewife. Compute PIT of Fred for the year 2013. PR7. Ms. Jenny is an Australian expert working for the RapidNotify corporation in Australia. In the year 2012, she worked for an invitation of the corporation's subsidiary in Vietnam from May 4th to Jul 25th. Ms. Jennys income received in the year 2012 included $30,000 paid by the subsidiary for the work in Vietnam (exclude for compulsory insurance 9.5%), $2,000 one way ticket flight to Australia. Ms. Jenny was also supported by the subsidiary with house rental at $9,000, $2,000 travel allowance. Ms. Jenny is a widowed raising three children under 18 years old. Compute personal income tax payable of Ms. Jenny in Vietnam for the year 2012. Assume that the foreign exchange rate is 20,000 VND /USD