The government proposes to impose personal income tax on gold bar transfers.

VTV.vn - The draft Law on Personal Income Tax (amended) proposes to impose tax on gold bar transfers, aiming to increase market transparency and limit speculation.

On the morning of November 4, continuing the 10th session of the 15th National Assembly, on behalf of the Government, Minister of Finance Nguyen Van Thang presented the Draft Law on Personal Income Tax (amended).

Apply 17% tax to business individuals with revenue from 3 - 50 billion VND

The draft Law amends the regulations on personal income tax for business individuals. Regarding the level of revenue not subject to tax, the amendment stipulates that the level of revenue not subject to personal income tax is 200 million VND/year.

On the morning of November 4, continuing the 10th session of the 15th National Assembly , on behalf of the Government, Minister of Finance Nguyen Van Thang presented the Draft Law on Personal Income Tax (amended).

The Draft Law supplements the method of calculating income tax on business income of resident individuals as follows: Tax on business individuals with annual revenue of over VND 3 billion to VND 50 billion is determined by multiplying taxable income by the tax rate of 17%. For business individuals with annual revenue of over VND 50 billion, the tax rate of 20% is applied. Taxable income is determined by revenue from goods and services sold minus (-) expenses related to production and business activities during the tax period.

Adjusting the tax rate for some income from activities of providing digital information content products and services on entertainment, electronic games, digital movies, digital photos, digital music, and digital advertising from 2% to 5%.

New family deduction level applied from tax period 2026

Regarding the new family deduction for taxpayers of 15.5 million VND/month and deduction for each dependent of 6.2 million VND/month, it will take effect and be applied from the 2026 tax period. Individuals will be deducted according to the new family deduction from January 2026.

With this new family deduction, individuals do not have to pay tax with an income of 17 million VND/month (if no dependents) or 24 million VND/month (if 01 dependent) or 31 million VND/month (if 02 dependents).

According to the draft Personal Income Tax (amended), the progressive tax schedule will be reduced from 7 levels to 5 levels.

Also in the draft Law, the Government proposed adjusting the progressive tax schedule applicable to resident individuals with income from salaries and wages by reducing the number of tax brackets from 7 to 5 and widening the gap between the brackets.

Here, the Government proposed to amend the tax schedule to 5 levels with the distance between levels increasing gradually to 10, 20, 30, 40 million VND corresponding to tax rates of 5%, 15%, 25%, 30%, 35%. The final tax rate is 35% applied to taxable income over 100 million VND/month.

Supplementing regulations on other income groups subject to tax

The Draft Law also adds a number of income items to other income subject to personal income tax, such as: Income from transferring the Vietnamese national internet domain name ".vn"; income from transferring greenhouse gas emission reduction results, transferring carbon credits; income from transferring auctioned car license plates according to the provisions of law; income from transferring digital assets, transferring gold bars; other income as prescribed by the Government.

Regarding gold bar transfers, the draft Law proposes to collect a 0.1% tax on gold bar transfers to improve market transparency, limit speculation, and assign the Government to specify the taxable gold bar value threshold, the time of application, and adjust the tax rate in accordance with the gold market management roadmap.

In the opposite direction, the draft Law also proposes to supplement a number of regulations on tax exemption and reduction of personal income tax on income from transferring open-end fund certificates, and profits of individual investors divided from securities investment funds and real estate investment funds.

Proposal to properly consider imposing tax on gold bar transfer

Presenting the report on the review of the draft Law, Chairman of the Economic and Financial Committee Phan Van Mai said that there were many comments on the regulation of income from gold bar transfer as taxable income.

Chairman of the Economic and Financial Committee Phan Van Mai

According to Mr. Mai, many opinions suggested that tax on gold bar transfers should be properly considered to avoid inconveniences for people who transfer gold not for speculative or business purposes; taxing people's gold savings may not have humanistic, social and economic management meaning; at the same time, it is recommended that the Government provide information on the expected time of application of these regulations.

Regarding the regulation on the revenue level of business individuals not subject to personal income tax (from 200 million VND/year or less), according to Mr. Mai, this tax-free revenue threshold is too low compared to business practice and does not ensure fairness when compared with the income level of salaried employees with family deductions.

Therefore, it is recommended that the drafting agency calculate and adjust the tax-free revenue level of individual business owners to be more equal and consistent with the family deduction level.

Source: https://vtv.vn/chinh-phu-de-xuat-ap-thue-thu-nhap-ca-nhan-voi-chuyen-nhuong-vang-mieng-100251104095915914.htm