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TUTORIAL 5 - Ans1.2

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30 views2 pages

TUTORIAL 5 - Ans1.2

Uploaded by

jennifertranlinhchi
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TUTORIAL 5 ANSWERS

QUESTION 1
Mr. Khai is a shareholder of Binh Minh JSC (listed at the Stock Exchange). In 20 22, Mr. Khai
receives 15,000 shares instead of dividend paid by Binh Minh JSC (the face value of a share
is 10,000 VND). In August 2024, Mr. Khai transfers 8,000 shares at a price of 55,000 VND per
share.
Required: What is provisional tax amount (in million VND) to be paid by Mr. Khai?

When making the transfer, Mr. Khai has to pay personal income tax on the income from
capital investment and the income from transferring securities:
- The personal income tax on the income from capital investment: (8,000 shares ×
VND10,000) × 5% = VND4,000,000
- The personal income tax (provisional) on income from transferring securities: (8,000 shares
× VND55,000) × 0.1% = VND440,000

QUESTION 2
Ms Hoa owns a portfolio of investments, which earned her the following amounts in 2024:
 VND150 million cash from bond interest.
 VND180 million cash from dividends distributed by TCL Co, a non-public joint
stock company (representing a yield of 10% over face value).
 20,000 shares of PDL JSC, a listed company, as a scrip dividend in respect of the
120,000 shares she held in May 2024. At the time of this distribution, the market
price of PDL JSC shares was VND18,000 per share.
On 1 September 2024, Ms Hoa sold all of her shares in PDL JSC and TCL Co at the price of
VND25,000 and VND8,000 per share, respectively. The face value of both companies’ shares
is VND10,000 per share.

Required: Calculate the PIT liability of Ms Hoa for the year 2024 in respect of the following
investment activities:
 the receipt of the interest and cash dividend;
 the receipt of the scrip dividend; and
 the sale of the PDL JSC and TCL Co shares).
Note: All calculations in both parts of this question should be made in VND millions,
rounded to one decimal.

Tax liabilities
(VND million)
Receipt of interest and cash dividend
Bond interest (150 * 5%) 7.5
Cash dividends (180 * 5%) 9
Receipt of scrip dividend (10,000 *20,000 shares) 0
Note: A scrip dividend is not taxed at the time of receipt
Sales of shares
TCL Co: Capital gain (180,000 shares * 36,000 *0.1%) 6.48
PDL JSC: Capital gain (120,000 + 20,000) * 25,000 * 0.1% 3.5
Scrip dividend taxed at sale (20,000 shares * 10,000 * 5%) 10
Total 36.48

Working:
Number of shares of TCL Co
Total face value of shares held (dividend received/yield over face value)
(180 million/10%) VND 1,800 million
No of shares held (Total face value of shares held/face value per share)
(1,800 million/10,000) 180,000 shares

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