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Unlocking the Market’s Potential: Breaking Down Monopolies
The electricity market is set to become more competitive, giving consumers the power to choose their energy provider and ending monopolies.
Latest: Proposal to Simplify PIT Brackets to 5 Levels and Raise the 35% Threshold...
The Ministry of Finance has proposed a draft amendment to the Personal Income Tax Law, simplifying the progressive tax bracket system from seven to five brackets. The key highlight is the introduction of a new top tax rate of 35% for monthly incomes above 100 million dong, an increase from the previous threshold of 80 million dong.
The Soaring Electricity Bill: Unraveling the Mystery
The current tiered electricity pricing structure, with its significantly higher rates for each progressive tier (a 4.8% increase from the average retail price), has been criticized by experts for causing a spike in electricity bills during hot seasons. Furthermore, the delayed removal of cross-subsidization has resulted in ordinary citizens bearing the burden for electricity-intensive businesses and foreign-invested companies.
