VnExpress News The News Gateway of Vietnam
The Ministry of Justice has proposed that the 10% tax on winnings from lotteries, games and contests be increased as it is lower than in many other countries.
Vietnam has a fixed tax of 10% for any winning income that exceeds VND10 million ($426.62), but many have proposed that this tax be raised, the ministry said in a draft bill.
The Ministry of Justice proposed that winnings be taxed progressively, but did not suggest any specific rate.
It added that in the U.S. income from lottery winning is subject to an initial 25% tax and a progressive tax that can be as high as 37%.
Romania also applies a 25% tax on winnings. In the Philippines, winnings of above 10,000 pesos ($183.64) are subject to a 20% tax. And in India, winnings are taxed 30-35.5%.
Some countries that have the same tax on winnings as Vietnam are Poland and Greece, both at 10%. Italy taxes 6%, while in Canada lottery winnings are mostly tax-free.
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