DO I HAVE TO PAY PERSONAL INCOME TAX WHEN PURCHASING HEALTH INSURANCE?

My company buys health insurance for employees who work directly in the environment of chemicals. If I earn the health insurance bought by my Company, do I have to pay personal income tax? Looking forward to hearing your opinion.

FDVN’s opinions:

Thank you for concerning FDVN’s legal services. Base on your consulting requirements, after studying the legal documents, FDVN Law Firm offers the following opinions:

According to the provisions at Point đ. 2, Clause 2, Article 2 of Circular No. 111/2013 / TT-BTC dated August 15, 2013 of the Ministry of Finance guiding the incomes subject to personal income tax:

“Other benefits in cash or not in cash apart from wages paid to the taxpayer by the employer in any shape or form:

đ.2) The life insurance premiums, other optional insurance premiums, contributions to the voluntary pension fund paid or made by the employer on the employee’s behalf.”

In addition, according to Clause 3, Article 2 of Circular No. 92/2015/TT-BTC dated June 15, 2015 of the Ministry of Finance:

“If the employer buys optional insurance without accrual of premiums for employees (including insurance of insurers that are not established under Vietnam’s law but permitted to sell insurance in Vietnam), such premiums shall not be included in taxable income of employees”

Thus, according to the above guidance, the health insurance that the employer buys for the employee is optional insurance that does not accrue insurance premiums and is not included in taxable income employees.

This is FDVN Law firm's opinion for your request basing on studying the relevant legal provisions. Hopefully, our advice will be useful for you.

Legal advisor: Hoang Tran Ngoc Anh

FDVN Law Firm

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