Tax Policy on Personal Income Tax Policy for One-Time Retirement Allowance Paid from Voluntary Overseas Pension Funds

Official Letter No. 32578/CTBDU-TTHT dated December 26, 2024, issued by the Binh Duong Tax Department regarding the tax policy on lump sum benefits paid from foreign voluntary pension funds:
For foreign employees assigned to work in Vietnam under an intra company transfer scheme, if the individual participates in a voluntary pension fund in accordance with the laws of the country of their nationality, the pension income received from the voluntary pension fund is exempt from personal income tax, regardless of the method of payment.