The government proposed to impose a personal income tax of 0.1% on each gold bar transaction.

Minister Nguyen Van Thang - Photo: GIA HAN

Accordingly, the bill will amend and perfect regulations on tax calculation and taxable income for each type of income, restructure and adjust the names of some articles to correspond with the amended content.

Increase family deduction level

Along with that is the amendment and completion of regulations on some tax-exempt income . Amending regulations on personal income tax for business individuals, including: adding some taxable income; amending regulations on the level of tax-free revenue to 200 million VND/year to ensure consistency with the provisions of the Law on Value Added Tax.

At the same time, supplement the method of calculating tax on income from business income of resident individuals; adjust the tax rate from 2% to 5% for some income from activities of providing digital information content products and services on entertainment, electronic games, etc.

Regarding the provisions on family deductions and deductions for charitable and humanitarian contributions, the revised bill stipulates adjustments to the family deduction level of personal income tax.

In particular, the deduction for the taxpayer himself is increased to 15.5 million VND/month, for each dependent to 6.2 million VND/month.

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 1 dependent) or 31 million VND/month (if 2 dependents).

Promoting the policy of decentralization and delegation of power, the draft law assigns the Government to adjust this deduction level based on price and income fluctuations.

At the same time, the draft amends and completes the scope of determining deductible charitable and humanitarian contributions to suit reality. Adjusts the progressive tax schedule applied to resident individuals with income from salaries and wages in the direction of reducing the number of tax rates from 7 to 5 and widening the gap between the rates.

Regarding personal income tax on income from real estate transfers, the draft maintains the regulation of collecting at a tax rate of 2% on the transfer price each time.

However, the bill supplements the method of calculating income tax from capital transfers. In cases where the purchase price and costs related to the capital transfer cannot be determined, personal income tax is determined by multiplying the selling price by the tax rate of 2% (applied uniformly to both resident and non-resident individuals).

The bill adjusts the income threshold to determine taxable income for some income sources such as income from winning prizes, royalties, franchises, inheritances, and gifts from VND10 million to VND20 million.

Discussion session on socio -economic situation at the 10th session of the 15th National Assembly

Consider gold transfers taxable

In addition, there are some additional contents compared to the current law: That is, adding regulations on other newly arising income groups subject to personal income tax.

Regarding the transfer of gold bars, the draft law assigns the Government to base on the gold market management situation, stipulate the time of application, the taxable gold bar value threshold, adjust the tax rate to suit the gold market management and collect personal income tax on gold bars at a tax rate of 0.1% on the transfer price each time.

This provision ensures that the Government has a legal basis to decide on tax collection and specific contents when all conditions are met, thereby contributing to being a tool for the Government to manage and operate the economy to ensure meeting the double-digit growth target.

In addition, this regulation is a necessary step to contribute to protecting the stability of the economy, properly implementing the direction of the Party and State on strictly managing gold trading activities, contributing to preventing speculation in gold, attracting large resources in society to participate in the economy.

In addition, a number of regulations on tax exemption and reduction of personal income tax will be added to institutionalize the Party's policies and guidelines and the State's laws in Resolutions No. 57, No. 71, No. 72 and No. 68 of the Politburo and a number of recently issued laws.

Reviewing this draft law, Chairman of the Economic and Financial Committee Phan Van Mai agreed to amend the law. In particular, regarding the family deduction level, experience from other countries shows that the family deduction level is not adjusted too frequently and continuously and is not an urgent matter that needs to be regulated by the Government to ensure flexibility and timeliness.

Therefore, it is proposed to continue to specify the family deduction level in the draft law, and at the same time assign the Government to submit to the National Assembly Standing Committee for consideration and adjustment of the family deduction level if necessary, in accordance with actual needs.

Regarding the proposal to add regulations on income from gold bar transfers to taxable income, many opinions suggest properly considering taxing gold bar transfers to avoid inconveniences for people who transfer gold not for speculative or business purposes.

Taxing people's gold savings may not make sense in terms of humanity, society and economic management; at the same time, the Government is requested to provide information on the expected time of applying these regulations.

Tuoitre.vn

Source: https://tuoitre.vn/chinh-phu-de-xuat-ap-thue-thu-nhap-ca-nhan-voi-moi-lan-giao-dich-vang-mieng-la-0-1-20251104092542745.htm