Tag: market prediction.

The latest draft of the Personal Income Tax Law (amended) retains the highest personal income tax rate at 35%. This means that taxable income over VND 100 million will be subject to a 35% tax rate.

Under the stewardship of Vice Chairman Nguyen Duc Hai, the afternoon session on September 5th concluded with a decision to reduce the Ministry of Construction's budget by over VND 1,400 billion. This substantial reallocation of funds will be directed towards local governments, ensuring compliance with legal regulations and jurisdictional authority.

"There has been a debate on whether the personal income tax exemption amount should be based on regional minimum wages. However, this proposal has not gained support from the Ministry of Finance. The Ministry argues that the legal exemption amount must be uniform across the country, regardless of an individual's income level, consumption needs, or place of residence."