The ministry of public security has proposed exempting state-funded salaries and wages from personal income tax.

Experts suggest implementing new tax allowances as soon as possible to prevent taxpayers from enduring another year of outdated deductions.

The government has called for amendments to the Personal Income Tax Law to clearly stipulate that income from gold trading is subject to taxation to enhance transparency and curb speculation.

The Ministry of Finance has proposed increasing the personal income tax relief to 15.5 million VND for taxpayers and 6.2 million VND for dependents.

The Ministry of Finance proposes that individual business owners pay income tax based on the difference between revenue and expenses, at a rate of 17%.

The ministry of finance argues that personal income tax deductions should be based on general living standards, not income, spending habits, or location.

The Ministry of Finance has submitted to the government a proposal to reduce the number of personal income tax brackets from 7 to 5, while keeping the highest tax rate at 35%.