Reportedly, after over 3 years of implementing the law on personal income tax and along with change of socio-economy, some regulations of the law showed restrictions inconformity with new period and some procedures did not bring advantages for taxpayers.
Therefore, the NA’s Committee for Finance and Budget agreed on adjusting the law to improve shortcomings.
The draft law stipulates to raise the rates of personal income tax and deduction at VND9mil and VND3.6mil/month. Most of ideas agreed on the rates for the sake of improving consumption and collection.
The draft law rules that in case of market price variation of over 20%, the Government will adjust the rates in conformity with pricing change.
In terms of dutiable income and non-dutiable income, many ideas said that income from securities investment should not be listed in dutiable group to encourage the industry’s development. On the contrary, most of the ideas from the NA’s Finance and Budget Committee agreed to collect tax for the field of securities.
Reported by T.Son – Translated by A.C
