Secretary General of the National Assembly Le Quang Tung speaks at a press conference announcing the results of the 8th session of the 15th National Assembly. Photo: Ho Long
On the afternoon of November 30, the Secretary-General of the National Assembly held a press conference to announce the results of the 8th session of the 15th National Assembly.
At the press conference, a reporter asked about the personal exemption amount, which has been mentioned many times, and the Ministry of Finance has sought feedback. However, it is expected that the new amount will not be approved until 2026 and implemented until 2027. Meanwhile, the current personal exemption amount is already outdated and affecting the lives of citizens.
Responding to this question, Mr. Vu Tuan Anh, a member of the Finance and Budget Committee of the National Assembly, said that many deputies have expressed their opinions on adjusting the personal exemption amount.
According to Mr. Anh, the personal exemption amount in the Law on Personal Income Tax mandates the Government to review and adjust it when there is a fluctuation of more than 20% in the CPI compared to the time when the Law took effect, or when the personal exemption amount was last adjusted. The Government shall then submit the proposed adjustment to the National Assembly’s Standing Committee for consideration.
“However, for a long time, the Government has not submitted any proposal to adjust the personal exemption amount to the National Assembly’s Standing Committee,” said Mr. Vu Tuan Anh.
The member of the Finance and Budget Committee of the National Assembly also acknowledged that the personal exemption amount has not kept up with the changes since the last adjustment. However, in the Standing Committee’s Plan 81 and during their work with the Ministry of Finance, they have advised and requested the Ministry to study and propose amendments.
“But in the past time, the Ministry of Finance has been focusing on areas with problems to find immediate solutions for development,” said Mr. Tuan Anh.
Mr. Vu Tuan Anh, member of the Finance and Budget Committee of the National Assembly, answers questions at the press conference. Photo: Ho Long
Mr. Vu Tuan Anh also informed that the Law on Value Added Tax (amended), which was passed by the National Assembly at this session, has increased the tax exemption threshold from 100 million VND to 200 million VND. When amending the Law on Personal Income Tax, the personal exemption amount will be adjusted accordingly to reduce the tax burden on households and individuals engaged in production and business.
Regarding the common personal exemption amount, Mr. Tuan Anh said that when the law is amended, he believes the Government will make adjustments. However, according to their competence so far, the Government has not submitted any proposal to adjust this personal exemption amount to the National Assembly’s Standing Committee for consideration and decision.
Currently, the personal exemption amount for individual income tax payers is 11 million VND/month, and 4.4 million VND/month for dependents.
Also at the press conference, in response to a question about streamlining the National Assembly’s apparatus, the Secretary-General of the National Assembly, Head of the National Assembly Office, Le Quang Tung, affirmed that this is the determination of the entire political system, as emphasized by the General Secretary at the Central Committee meeting.
According to Mr. Tung, streamlining does not mean reducing but rather ensuring that the apparatus is “lean, strong, effective, and efficient.”
To implement the resolution of the Central Committee, the Standing Committee of the National Assembly has established a Steering Committee for the summary of the implementation of Resolution 18-NQ/TW on the arrangement of a lean and efficient apparatus of the National Assembly, headed by the Chairman of the National Assembly, Mr. Tran Thanh Man.
The Secretary-General of the National Assembly, Le Quang Tung, said that the results of the review of the implementation of Resolution 18-NQ/TW in the agencies of the National Assembly and the Standing Committee of the National Assembly are expected in early January 2025.
Earlier, in his closing speech at the 8th session, Chairman of the National Assembly Tran Thanh Man stated that 2025 is a very important year in the successful implementation of the tasks of the term 2021-2026. He also mentioned the requirement of Resolution 10 of the 13th Central Committee for urgent work on the arrangement and streamlining of the apparatus of the political system to meet the requirements and tasks of the country in the new stage.
The Chairman of the National Assembly affirmed that the National Assembly, the Standing Committee of the National Assembly, the Council of Ethnic Groups, the Committees of the National Assembly, the Office of the National Assembly … of the 15th term will continue to strongly innovate, urgently arrange and reorganize the apparatus to be “lean, strong”, improve the effectiveness and efficiency of activities, and restructure the team of officials to ensure that they have the right qualities and abilities to meet the requirements of the task.
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