Raising the tax exemption threshold for business households will have positive impacts

After receiving comments from National Assembly delegates, the Ministry of Finance proposed raising the tax-free revenue of individual businesses to 500 million VND/year and applying a tax rate of 15% to the group with revenue from 500 million VND to 3 billion VND.

Delegate Tran Hoang Ngan ( Ho Chi Minh City). Photo: Viet Ton/Tin Tuc Newspaper

Talking in the hallway of the National Assembly , delegates expressed their agreement and support for this proposal; at the same time, they said that this will create convenience for people and businesses and promptly resolve arising problems.

According to delegate Tran Hoang Ngan (Ho Chi Minh City), the timely proposal to raise the tax-free revenue of individual businesses to 500 million VND/year instead of 200 million VND/year and apply a tax rate of 15% to the group with revenue from 500 million to 3 billion VND has shown the Ministry of Finance 's listening and acceptance of the opinions of the National Assembly delegates. The Ministry of Finance promptly received the opinions and made a very commendable decision.

The delegate emphasized that the tax-free revenue level for business households being raised to 500 million VND/year will help business households not be "shocked" when performing tax obligations in a fair, public, transparent manner and will gradually get used to accounting in business.

This adjustment will also have positive impacts on society. Business activities of business households are maintained, not disrupted and social security is ensured through maintaining jobs for many workers. This is an extremely big issue and will have a positive impact on all aspects of social life, contributing to creating a premise for economic and social development of the country in the new situation.

However, according to delegate Tran Hoang Ngan, in order for the tax policy to truly promote fairness and create greater incentives for business households, the Ministry of Finance needs to study and consider deducting input expenses if business households can prove these expenses with legal documents; for example, documents related to renting business premises, documents for performing certain types of insurance obligations or documents related to charitable activities should also be considered for deducting taxable revenue... In addition, the authorities should study and consider applying a tax rate of about 10 - 12% instead of the current 15% for groups with revenue from 500 million VND to 3 billion VND.

Source: https://baotintuc.vn/thoi-su/nang-nguong-mien-thue-doi-voi-ho-kinh-doanh-se-co-nhung-tac-dong-tich-cuc-20251203114105105.htm