Nearly 40 billion VND is the total bonus from the amounts that the Vietnam Football Team was announced to receive on January 8. The number has shown how much joy the 2024 ASEAN Cup championship brings to the players. Of this, the bonus from the Vietnam Football Federation (VFF) alone for the Vietnam Men's Football Team is 7.2 billion VND.
Football is a special sport, receiving great attention from society. Therefore, after each time the Vietnam Men's Football Team achieves results in important tournaments, the team always receives many valuable incentives. This is the spiritual encouragement, the joy that coaches and players deserve from their professional achievements.
The problem is still whether the collective or individual athletes who receive huge bonuses must pay personal income tax or not. The explanation shared by the General Department of Taxation is that bonuses from national and international tournaments recognized by the Vietnamese State are bonuses received from achievements in national or international tournaments, such as championship or runner-up, recognized by the Vietnamese State and bonuses according to the provisions of the Law on Emulation and Commendation, will not be included in income subject to personal income tax.
However, bonuses from other organizations and individuals such as bonuses from economic groups, banks, enterprises, organizations or individuals for teams or individual players and coaches, if they are in the nature of salaries, wages or are implemented according to financial regulations on revenue, expenditure and bonuses of the Vietnam Football Federation, will be counted as income subject to personal income tax. Paying taxes is the responsibility of the people.
Coaches and athletes who compete to achieve results and are rewarded accordingly have income, and they will pay personal income tax (yes or no) as prescribed by each specific content. After that, Vietnamese sports and Vietnamese football will prepare again for a new professional cycle towards participating in the 33rd SEA Games.
Many times, athletes participating in the SEA Games are also awarded bonuses from the Gold Medal results, but many times, benefactors reward achievements by giving gifts in kind to athletes to reduce the burden of having to pay... personal income tax.
