Bonus of 33 billion VND after ASEAN Cup 2024: The national team pays huge taxes, Xuan Son is 'hungry' for rice?

According to the General Department of Taxation, some of the Vietnamese team's winnings will be subject to PIT. After an excellent performance at the 2024 AFF Cup, the Vietnamese team was crowned champion in the joy and pride of all Vietnamese people.

Along with the championship trophy, coach Kim Sang-sik's teachers and students also received great encouragement from individuals, organizations, and businesses. Accordingly, the Vietnamese team was rewarded with 300,000 USD (more than 7.6 billion VND) from the Southeast Asian Football Confederation (AFF); 2 billion VND from the People's Committee of Ho Chi Minh City. Hanoi for the championship. After returning home, the team continued to be rewarded with 5 billion VND by the State Capital Management Committee at enterprises. At the same time, according to Decree No. 152/2018/ND-CP of the Government, each Vietnamese athlete who wins the gold medal in the Southeast Asian tournament will be rewarded with an additional 40 million VND, this total prize is more than 1 billion VND for the whole team.

Moreover, businesses such as Petrovietnam, Viettel and VPBank also announced their support for the team of 2 billion VND/each business. Units such as Loc Phat Bank (LPBank), SHB Bank, Agribank, Dong Luc Sports Group, Golden Star Beer and Beverage Group Joint Stock Company - Savabeco... and many other individuals also announced the amount of money to support the team. As of January 6, the Vietnamese team has received more than 1.3 million USD (about 33 billion VND) from the tournament organizers and sponsors.

Specifically, Agribank also spent VND 2 billion in bonuses for the 2024 ASEAN Cup championship. Particularly, striker Nguyen Xuan Son (scored 7 goals) received a reward of 10,000 USD (more than 250 million VND). SHB Bank of Chairman Do Quang Hien donated 2 billion VND to the Vietnamese team. In addition, Bau Hien also spent a lot of money to bring more than 600 fans, including players' family members, fans and loyal customers, to Thailand to cheer.

Golden Star Beer and Beverage Group Joint Stock Company - Savabeco (Hoanh Son Ha Tinh Group) also awarded VND 1 billion for the 2024 ASEAN Cup championship. In the journey to win the cup, the Vietnamese team received an additional 500 million VND from VFF when entering the semifinals, and 1 billion VND from Acecook Vietnam after defeating Singapore in the semifinals. In the semi-final of the second leg on the evening of December 29, 2024, giant Nguyen Van De - Chairman of the Board of Directors of Hop Luc Joint Stock Corporation - also received a hot bonus of 500 million VND.

The above amount is very large, and certainly the prize distribution process needs to be carried out meticulously, ensuring transparency and fairness among players. Most likely, the Vietnamese team will apply a division method based on the level of contribution of each player, just like the way in previous major tournaments.

Previously, in 2018, Vietnam was also rewarded with about 30 billion VND after winning the AFF Cup. The team's Board of Directors has divided this amount by itself without the participation of VFF. At the 2018 Asian U23 Championship, the Vietnam U23 team divides prizes according to levels A, B, C, based on the contributions of members. The prize money the team received at that time was more than 50 billion VND.

With this huge prize money, many people wonder how the players will have to pay personal income tax (PIT). This was also answered by Mr. Mai Son, Deputy General Director of the General Department of Taxation at the 4th Quarter Regular Press Conference of the Ministry of Finance on January 7.

Accordingly, the bonus money received by the Vietnamese football team with medals and commemorative medals is not subject to personal income tax, while the bonuses received by the team from organizations and individuals will be subject to personal income tax according to regulations. This means that the bonus of 300,000 USD that the Vietnamese team received from AFF for the championship and the bonus of more than 1 billion VND (total team) according to Decree No. 152/2018/ND-CP on the reward regime for athletes and coaches are also exempt from tax.

On the contrary, bonuses from corporations, businesses, organizations or individuals, if they are in the nature of salaries, wages, or paid according to the financial regulations of the Vietnam Football Federation, will have to pay PIT. The withholding tax rate is 10% for income of 2 million VND/time or more or applying a progressive tax schedule depending on the labor contract of the individual. At the end of the year, the prize recipient must make tax finalization as prescribed.

In cases where individuals receive gifts in the form of securities or capital portions in economic organizations, real estate or other assets subject to registration of ownership and use rights, they must pay personal income tax on incomes from receiving gifts. The payment of personal income tax on bonuses of the Vietnamese football team depends on the origin and nature of the bonus received.

Xuan Son burst into tears when coach Kim Sang Sik did 1 thing, fans: 'because you deserve it' Minh Lan14:36:13 06/01/2025The moment Coach Kim Sang Sik personally wore the gold medal for Nguyen Xuan Son made the hearts of millions of football fans burst. Xuan Son himself sobbed at the love of his teacher and fans for him.