The Ministry of Finance has recently submitted a document to the Prime Minister and Deputy Prime Minister Ho Duc Phoc regarding the absorption and explanation of delegates’ opinions on the amended Personal Income Tax Law project.
According to the document, after considering the contributed opinions, the Ministry of Finance has reviewed and adjusted the tax brackets from 7 to 5, widened the gaps between brackets, and revised the tax rates in the tax table. These changes ensure that all individuals currently paying taxes in these brackets will experience a reduction compared to the current tax table. Additionally, these adjustments address the issue of sudden tax increases between brackets. Specifically, the tax rate of 15% (in bracket 2) has been reduced to 10%, and the tax rate of 25% (in bracket 3) has been lowered to 20%.
Previously, during the discussion of the draft law, Delegate Hoang Van Cuong (Hanoi delegation) pointed out the irrationality of the proposed 5-bracket tax system.
“Taxable income up to 10 million VND is taxed at 5%, but taxable income from 10 to 30 million VND jumps to 15%. This means that an income of 11 million VND is also taxed at 15%. Similarly, taxable income from 30 to 60 million VND is taxed at 25%.
This is unreasonable because a slight increase in a worker’s income can result in a significant tax increase. This could demotivate workers from striving to increase their income,” Delegate Hoang Van Cuong stated.
Sharing the same view, Delegate Nguyen Thanh Phuong (Can Tho delegation) also criticized the 5-bracket tax system as unreasonable. Specifically, an income of 10 million VND is taxed at 5%, but an income of 11 million VND is taxed at 15%, creating a substantial gap. Meanwhile, the income group from 10 to 60 million VND per month represents the largest demographic.
Special Administrative Units: Hanoi and Ho Chi Minh City
The government has introduced new regulations on administrative unit classification standards, designating Hanoi and Ho Chi Minh City as special-class provincial-level administrative units.
Ministry of Industry and Trade Announces National Power Grid Operation Plan for 2026
To empower organizations in proactively developing detailed plans to ensure a stable electricity supply for economic, social, and public needs in 2026, the Ministry of Industry and Trade issued Decision No. 3477/QĐ-BCT on November 28, approving the National Power System Operation Plan for the year 2026.
Afternoon of November 27: Gold Ring Purchase Prices Continue to Decline
In today’s trading session, a leading gold retailer further reduced the buy-in price of gold rings to 149.5 million VND per tael.
Vietnam Crafts a Unique Identity for Its International Financial Hub
Instead of emulating existing models, Vietnam is leveraging its dual advantages of “production and timing,” coupled with the digital asset wave, to position its International Financial Center (IFC) on the global financial map.
THACO and VinSpeed Steal the Spotlight at High-Speed Rail Conference
The consultation meeting on the morning of November 27 revealed a stark divide: while some businesses demonstrated thorough preparation, committing to capital and timelines, others struggled to address questions about financial capacity, with some even lacking basic information in their submissions.
