After 3 months of gathering opinions other ministries, agencies, the latest amendments and supplements a number of articles on Personal Income Tax Law has been submitted to the Government by The Ministry of Finance.
The most positive point is the Ministry has strongly increased the level of family allowances, tax starting with initial calculations on the basis of absorbing the comments.
Accordingly, the level of family allowances for taxpayers themselves are 9 million VND/month, equivalent to over 108 million VND/year, deductions for dependents 3.6 million VND/month/person, equivalent to 43.2 million VND/person/year.
The above adjusted rates are 1.25 times higher than the current levels and increased 50% over the original proposal.
The amendment will come into effect from 01/01/2014.
(Source: Ministry of Finance)
ANT Lawyers
Let us help your business in Vietnam with legal services
Read more on contract, business, investment, Intellectual Properties, employment, dispute resolution and civil matters.
On February 18, 2025, Vietnam will implement a significant change in its tax policy by…
Vietnam has made substantial progress in refining its legal framework to meet growing demands for…
The stock market is one of the most important areas for raising capital and meeting…
A New Era of Opportunity or Complexity for Foreign Businesses in Hanoi? Imagine standing in…
On November 30, 2024, the National Assembly officially passed the Electricity Law Amendment 2024, marking…
The decision by Vietnam to ban e-cigarettes is a turning point in public health policy.…
This website uses cookies.