Are employee bonuses taxable?
In case the company pays bonuses to employees, the bonus includes housing expenses, the housing expenses included in this bonus are included in income from salaries and wages but do not exceed 15% of the total taxable income generated.
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A trading company hires foreigners, the salary includes housing. Every month, the company pays personal income tax and taxable income on housing included in the salary.
The company currently has a bonus policy for foreigners, the bonus is one month's salary including housing allowance. The company representative asked, does the unit have to pay taxable income for the housing allowance included in the bonus?
On this issue, the General Department of Taxation, Ministry of Finance has the following opinion:
In Clause 2, Article 11 of Circular No. 92/2015/TT-BTC dated June 15, 2015 of the Ministry of Finance amending and supplementing Article 2 of Circular No. 111/2013/TT-BTC dated August 15, 2013 of the Ministry of Finance guiding the implementation of the Law on Personal Income Tax, the Law amending and supplementing a number of articles of the Law on Personal Income Tax and Decree No. 65/2013/ND-CP of the Government detailing a number of articles of the Law on Personal Income Tax and the Law amending and supplementing a number of articles of the Law on Personal Income Tax, guiding income from salaries and wages including:
“The amount of rent, electricity, water and other related services (if any) for housing paid by the employer on behalf of the employee shall be included in taxable income according to the actual amount paid on behalf of the employee but shall not exceed 15% of the total taxable income generated (excluding rent, electricity, water and other related services (if any) at the employer regardless of the place of income payment).
Based on the above instructions, in case the company pays bonuses to employees, the bonus includes housing expenses, the housing expenses included in this bonus will be included in income from salaries and wages but not exceeding 15% of the total taxable income generated.
Workers can receive pension after 15 years of work
(Baonghean.vn) - Employees who have paid social insurance for 15 years will receive a pension if they retire (currently 20 years).
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