“Earning an Additional $2,000-$2,400 Monthly on a $680 Salary: How to Declare It?”

“Corruption is to corn what waste is to the cob”

On the morning of November 5th, the National Assembly held group discussions on the draft Law amending and supplementing several articles of the Anti-Corruption Law, along with other significant matters.

Delegate Phan Xuân Dũng (Khánh Hòa) noted that the anti-corruption efforts have been vigorously pursued by the Party and the State in recent times, particularly during the current term.

According to Mr. Dũng, alongside anti-corruption measures, there is a need to intensify efforts against waste, as “corruption is to corn what waste is to the cob.” Waste is currently substantial, necessitating robust solutions. For instance, the ongoing reorganization of material assets and surplus offices requires strategies to ensure efficient utilization and prevent waste.

Regarding asset declaration, Delegate Phan Xuân Dũng cited examples from other countries where salaries and incomes vary significantly. “Given this, how should asset declarations be handled? For example, someone might earn a salary of only 16 million VND per month but have additional income of 50-60 million VND per month,” Mr. Dũng questioned.

The delegate further explained that due to these income disparities, some countries require comprehensive asset declarations without excessive detail on income sources. Subsequent investigations are triggered only if assets exceed the declared amount. Vietnam should consider such international practices when refining its asset declaration policies.

Investigating Assets of Related Individuals

Regarding asset declarations, Delegate Hoàng Văn Cường (Hanoi) questioned the necessity of verifying every asset increase of 1 billion VND. He argued that the focus should be on the accuracy and transparency of declarations rather than arbitrary thresholds.

Mr. Cường emphasized that if declarations are supported by evidence, there should be no need for verification. He suggested that verification should only occur in cases of suspected dishonesty, falsification, or complaints.

Additionally, Mr. Hoàng Văn Cường proposed annual verification of a certain percentage of individuals. He criticized the current random selection process in some localities, likening it to a “gamble” in anti-corruption efforts. He recommended a 20% annual verification rate, ensuring a complete cycle every five years.

“Verification is a normal process, not a negative one. Unless there are unusual signs, repeated verification should be avoided,” the delegate stated.

On recovering corrupt assets, the delegate noted that individuals often disperse assets among family members to evade detection. He proposed that anti-corruption laws should mandate the investigation of assets belonging to related individuals during recovery processes, enhancing deterrence and effectiveness.

Taxing Unexplained Wealth?

Delegate Nguyễn Mạnh Cường, Deputy Chairman of the Law and Justice Committee, highlighted the need to address unexplained wealth in the draft law. He noted the absence of a definitive solution, with taxation being one proposed measure.

Another notable amendment expands the scope of asset declaration obligations in state-owned enterprises from those with 100% state-owned capital to those with over 50% state-owned capital or voting shares. Mr. Cường supported this change, citing the example of major banks like Argribank, Vietcombank, Viettinbank, and BIDV, where only Argribank is fully state-owned. With ongoing privatization, the number of fully state-owned enterprises is expected to decline.