On the morning of November 4th, during the 10th session of the 15th National Assembly, Minister of Finance Nguyen Van Thang, on behalf of the Government, presented the draft amended Law on Personal Income Tax.
One of the key additions to the current law is the inclusion of other income groups subject to Personal Income Tax (PIT), notably income from the transfer of digital assets and gold bars.
Minister of Finance Nguyen Van Thang presents the draft amended Law on Personal Income Tax. (Photo: National Assembly Media)
Regarding gold bar transactions, under the laws on gold trading and investment, gold bar trading is a conditional business activity. Only licensed enterprises and credit institutions authorized by the State Bank are permitted to trade gold bars.
Unlicensed gold bar trading is illegal. Therefore, individuals are not allowed to trade gold bars, and any income from such transactions is classified as other income (not business income).
The draft law proposes a 0.1% tax on gold bar transfers to enhance market transparency and curb speculation. The Government will specify the taxable gold value threshold, implementation timeline, and tax rate adjustments in line with gold market management plans.
17% Tax Rate for Individuals with Annual Revenue of VND 3–50 Billion
The draft law revises PIT regulations for business individuals. The annual tax-exempt revenue threshold is set at VND 200 million.
For resident individuals with annual revenue between VND 3 billion and VND 50 billion, the tax is calculated at a 17% rate on taxable income. For those with revenue exceeding VND 50 billion, a 20% tax rate applies. Taxable income is determined by subtracting production and business-related expenses from revenue.
The tax rate for income from digital content services, including entertainment, video games, digital films, images, music, and advertising, is increased from 2% to 5%.
New Family Deduction Rates Effective from 2026
The new family deduction rates—VND 15.5 million per month for taxpayers and VND 6.2 million per month for each dependent—will take effect from the 2026 tax year. Individuals can claim these deductions starting January 2026.
With these new rates, individuals with monthly incomes of VND 17 million (no dependents), VND 24 million (one dependent), or VND 31 million (two dependents) will be exempt from PIT.
The draft law also proposes reducing the number of tax brackets for resident individuals earning income from salaries and wages from seven to five, with wider intervals between brackets. The proposed brackets are 5%, 15%, 25%, 30%, and 35%, with the top rate applying to monthly taxable income exceeding VND 100 million.
Reconsideration Urged for Gold Bar Transfer Taxation
Presenting the verification report, Chairman of the Economic and Financial Committee Phan Van Mai highlighted concerns regarding the taxation of gold bar transfers.
Chairman of the Economic and Financial Committee Phan Van Mai. (Photo: National Assembly Media)
Mai noted that many suggest carefully considering gold bar transfer taxation to avoid burdening individuals who transfer gold for non-speculative or business purposes. Taxing gold savings may lack social and economic justification. The Government is urged to clarify the implementation timeline for these provisions.
Regarding the VND 200 million annual tax-exempt revenue threshold for business individuals, Mai argued that this is too low compared to practical business conditions and unfair relative to salaried workers’ family deductions.
He recommended adjusting this threshold to ensure fairness and alignment with family deduction levels.
Consideration of Taxation on Gold Bullion Transfers: A Statement by Mr. Phan Van Mai
The Economic and Finance Committee recommends careful consideration of imposing taxes on gold bar transactions to prevent undue burdens on citizens.
Boost Family Deduction Threshold: Millions of Households Gain Extra Spending Power
Elevating the personal tax deduction to $15.5 million VND/month for taxpayers and $6.2 million VND/month for dependents fulfills a long-standing aspiration of the public. Beginning in 2026, approximately 2.18 million individuals will be exempt from taxation, significantly boosting domestic consumption.
When to Pay Taxes on Personal Account Income: A Comprehensive Guide
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The National Assembly’s resolution to maintain the environmental protection tax (EPT) on petroleum products until the end of 2026 is a timely move, alleviating cost pressures on businesses and stabilizing market prices amidst global economic uncertainties.
Maximize Your Taxable Income Potential
The Standing Committee of the National Assembly has issued a resolution adjusting the personal income tax deduction for dependents, increasing it from the current 11 million VND per month to 15.5 million VND per month.
