Do individuals required to declare have to declare their children's assets and income in Vietnam?

1. Do individuals required to declare have to declare their children's assets and income in Vietnam?

Pursuant to Article 33 of the 2018 Law on anti-corruption, obligation to declare assets and income is as follows:

1. Individuals required to declare assets and income shall declare their assets and income, changes to assets and income of themselves, their spouses and minor children in accordance with this Law.

2. Individuals required to declare assets and income shall truthfully declare their assets and income, origins of additional assets and income following the procedures in this Law, and take responsibility for such declaration.

Thus, you who are required to declare must declare your assets and income, changes to assets and income of themselves, their spouses and minor children in accordance with this Law. For adult children, there is no need to make a declaration in Vietnam.

2. What do assets and income of individuals required to declare have to declaration in Vietnam?

According to Article 35 of the 2018 Law on Anti-corruption, assets and income subject to declaration as follows:

1. The following assets and income shall be declared:

a) Land use rights, houses, construction works and other property attached thereto;

b) Previous metals, gemstones, cash, financial instruments and other real property each of which is assessed at VND 50.000.000 or above;

c) Overseas property and accounts;

d) Total income between 02 declarations.

2. The Government shall provide declaration forms and implement the provisions of this Article.

According to this Article, you must make a declaration of assets and income as specified above in Vietnam.

Best Regards!