Officials must provide explanations when there are changes in assets or income of 1 billion VND or more.

When an official's assets and income increase by 1 billion VND or more during the year, they must declare the increase and explain the source of the additional assets and income.

On the afternoon of December 10th, continuing the program of the tenth session, the National Assembly voted to pass the Law amending and supplementing a number of articles of the Law on Prevention and Combat of Corruption. The law will take effect from July 1st, 2026.

The National Assembly has voted to pass the Law amending and supplementing a number of articles of the Law on Prevention and Combat of Corruption. Photo: quochoi.vn

According to the amended Law on Prevention and Combat of Corruption recently passed by the National Assembly, officials must declare assets valued at 150 million VND or more; and when their assets and income increase by 1 billion VND or more during the year, they must make supplementary declarations and explain the origin of the increased assets and income.

According to the law, assets and income that must be declared include: land use rights, houses, construction works and other assets attached to land, houses, and construction works; precious metals, precious stones, money, valuable documents and other assets where each type of asset has a value of 150 million VND or more; assets and accounts abroad; and total income between two declarations.

Compared to current law, the declared value has increased from 50 million VND to 150 million VND. The value of assets and income that must be declared is 150 million VND and applies to three declaration methods (initial declaration, annual declaration, and declaration for personnel purposes).

Along with increasing the declared value, the Law also stipulates an increase in the value of additional assets and income that change during the year from 300 million VND to 1 billion VND. The supplementary declaration must be completed before December 31st of the year in which there are changes in assets and income.

The asset and income control agency monitors changes in the assets and income of individuals obligated to declare them through analysis and evaluation of information from declarations or other sources.

Members of the National Assembly attend the session. Photo: Quochoi.vn

If a change in assets or income of 1 billion VND or more is detected during the year and the person obligated to declare fails to declare it, the asset and income control agency will request that person to provide or supplement relevant information; if the assets or income increase, an explanation of the source of the increased assets or income must be provided.

The government will specify in detail the criteria for selecting individuals obligated to declare their assets and income for verification, and the process of developing, approving, and implementing the annual asset and income verification plan of the Asset and Income Control Agency.

The law clearly stipulates that declaring and explaining the origin of assets and increased income is one of the criteria for evaluating and classifying the performance of officials, civil servants, and public employees.

Before the draft law was passed, the Inspector General of the Government , Doan Hong Phong, gave a speech acknowledging and explaining the draft law.

Source: https://hanoimoi.vn/can-bo-phai-giai-trinh-khi-co-bien-dong-ve-tai-san-thu-nhap-tu-1-ty-dong-tro-len-726332.html