Last night (January 8), player Nguyen Xuan Son, the "hero" of the Vietnamese football team at the AFF Cup 2024, was given an electric car as a gift by a business.

According to market information, this electric car has an expected price of about 900 million VND.

According to the guidance of the General Department of Taxation in Official Dispatch No. 1324 of 2018 on paying personal income tax (PIT) on bonuses received by the Vietnam football team, the electric car that player Xuan Son received is classified as "Gifts are assets that must be registered for ownership or use".

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Nguyen Xuan Son became the "hero" of the Vietnamese football team at the AFF Cup 2024. Photo: SN

“If an individual receives a gift in the form of securities, capital in economic organizations, real estate or other assets that require registration of ownership or usage rights, he/she must pay personal income tax on income from receiving the gift,” Official Dispatch No. 1324 clearly states.

Thus, player Nguyen Xuan Son will have to pay personal income tax on the gift of this electric car. Electric cars are exempt from registration fees.

According to the provisions of Clause 2, Article 16 of Circular 111/2013 (amended by Clause 1, Clause 2, Article 19 of Circular 92/2015/TT-BTC), the personal income tax rate for car gifts is 10%.

Thus, player Nguyen Xuan Son will have to pay 90 million VND in personal income tax for the gift of an electric car if the car has a published price of 900 million VND.