Deputy Prime Minister Ho Duc Phoc - Photo: VGP
In his opening speech, Deputy Prime Minister Ho Duc Phoc emphasized the importance and impact of the draft Law on Personal Income Tax (replacement) on people's lives as well as production and business activities of enterprises and the stock market, which has received great attention from public opinion.
New points of law amendments
The purpose of promulgating the law is to expand the tax base; review, amend and supplement regulations on taxpayers and taxable income; study and adjust the threshold and personal income tax rates, ensuring consistency with the nature of each type of income and the regulatory objectives of personal income tax.
Research on adjusting family deductions for taxpayers and dependents; amending and supplementing regulations related to a number of specific deductions to suit the new context; reducing the number of tax brackets of the progressive tax rate schedule.
Amending regulations on personal income tax exemption and reduction to comply with new requirements and international practices, contributing to implementing the Party and State's policies on attracting high-tech human resources, achieving the goals of green growth and sustainable development.
Simplify the implementation of tax policies, prevent tax evasion and tax avoidance. Effectively overcome shortcomings and problems arising from the implementation of the Personal Income Tax Law to ensure transparency and ease of law implementation.
The draft will focus on perfecting regulations related to personal income taxable income and tax calculation for each type of taxable income; and amounts exempt from personal income tax.
Complete regulations on personal income tax calculation for business individuals; review taxable revenue levels; adjust tax rates for a number of software fields; entertainment, electronic games, digital movies, digital photos, digital music, digital advertising.
Receiving comments related to calculating real estate and stock transfer tax
The Law will supplement regulations related to deduction levels; adjust and reduce the number of tax rates of the progressive tax schedule applicable to resident individuals with income from salaries and wages.
Review, amend and supplement regulations on tax calculation period, tax deduction, time for determining taxable income; amend and supplement regulations on responsibilities of organizations and individuals paying income and responsibilities of taxpayers.
In addition, the bill also adds provisions on other income groups subject to personal income tax; provisions on tax exemption and reduction of personal income tax; and other specific deductions. The bill will increase decentralization for the Government and the Ministry of Finance, such as adjusting family deductions, business revenue thresholds, contributions, etc.
Representatives of associations, corporations, and businesses gave comments on issues related to calculating personal income tax from real estate and securities; capital contribution in real estate; real estate transfer tax; family adjustment level...
In conclusion, the Deputy Prime Minister emphasized that the Law on Personal Income Tax involves many people and has a profound impact on people's lives and business and production activities of enterprises, so it needs to be carefully researched and assessed for impact when designing and proposing new regulations and policies.
The Deputy Prime Minister requested the Ministry of Finance to study and absorb reasonable comments, especially those related to real estate transfer tax; stocks, dividends, bonus shares; family deductions, etc.
The goal is to design truly suitable regulations, develop a draft Law on Personal Income Tax (replacement) with the highest quality, submit it to competent authorities for consideration and decision, and ensure feasibility after promulgation.
Source: https://tuoitre.vn/chinh-phu-hop-lay-y-kien-ve-muc-giam-tru-gia-canh-thue-thu-nhap-ban-chung-khoan-bat-dong-san-2025073119294114.htm
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