The National Assembly discussed increasing the deduction and tax on income from gold bar transactions.

(Dan Tri) - Many economic-related bills were submitted and discussed at the National Assembly this week, including the revised Personal Income Tax Law with content adjusting family deductions and progressive tax schedules.

On the morning of November 3, the National Assembly began the third working week of the final session of the 15th term. This week, a series of draft laws related to the economic and investment fields will be discussed, including the revised Law on Personal Income Tax.

According to the agenda, the revised Personal Income Tax Law will be submitted to the National Assembly in the morning session on November 4 and discussed in groups the following afternoon.

One of the most important amendments to this bill is the adjustment of family deductions for personal income tax payments.

National Assembly deputies attend the 10th session of the 15th National Assembly (Photo: Quang Vinh).

Previously, on October 17, the National Assembly Standing Committee passed a Resolution on adjusting the personal income tax deduction level. The Resolution increased the deduction level for the taxpayer himself from 11 million VND/month to 15.5 million VND/month and for each dependent from 4.4 million VND/month to 6.2 million VND/month.

The new family deduction level will be implemented from the effective date of the resolution and applied from the 2026 tax period.

The proposal for the revised Personal Income Tax Law this time assigns the Government to adjust the family deduction level based on price and income fluctuations.

In addition, the draft law also adjusts the progressive tax schedule applied to resident individuals with income from salaries and wages, reducing the number of tax brackets from 7 to 5 and widening the gap between the brackets according to two options.

The first option is to amend the tax table to 5 levels with the distance between levels being 10, 20, 20, 30 million VND respectively, 5 levels corresponding to tax rates of 5%, 15%, 25%, 30%, 35%. The last tax rate is 35% applied to taxable income over 80 million VND/month.

The Government calculates that if this plan is applied along with adjusting the new family deduction level, the budget will reduce revenue by about 26,400 billion VND/year.

The second option is to amend the tax table to 5 levels with the distance between levels increasing gradually to 10, 20, 30, 40 million VND and the tax rates are 5%, 15%, 25%, 30%, 35% respectively. The final tax rate is 35% applied to taxable income over 100 million VND/month. According to the Government's calculations, this option will reduce the budget revenue by about 27,400 billion VND/year.

After synthesizing opinions, the Government submitted to the National Assembly Option 2. With this option, the mobilization rate for most tax levels is reduced compared to the current level.

The revised draft law also adds regulations on other income groups subject to personal income tax, including income from transferring auctioned car license plates; income from transferring digital assets, transferring gold bars, etc.

Regarding gold bar transactions, the Government clearly stated that gold bar trading is a conditional business; only enterprises and credit institutions licensed by the State Bank to buy and sell gold bars are allowed to trade in gold bars.

The business of buying and selling gold bars without a license is a violation of the law in gold trading. Therefore, individuals are not allowed to trade in gold bars. The buying and selling of gold bars by individuals with income is determined as other income (not income from business).

With this law amendment, the Government proposes to collect a 0.1% tax on gold bar transfers to increase market transparency and limit speculation.

The threshold value of taxable gold bars, the time of application and adjustment of specific tax rates are expected to be assigned to the Government to regulate in accordance with the roadmap for gold market management.

Dien Hong Hall during the 10th session of the 15th National Assembly (Photo: Quang Vinh).

According to the agenda, in the third working week of the 10th session, the Government will submit to the National Assembly a series of laws on economics and investment, such as: Investment Law (amended); Law amending and supplementing a number of articles of the Law on Public Debt Management; Law amending and supplementing a number of articles of the Law on Insurance Business; Law amending and supplementing a number of articles of the Law on Statistics; Law amending and supplementing a number of articles of the Law on Prices.

These contents will then be discussed in turn in the group.

The draft Law on Construction (amended); Law on amending and supplementing a number of articles of the Law on Geology and Minerals; Law on amending and supplementing a number of articles of laws in the fields of agriculture and environment will also be submitted to the National Assembly this week.

The agenda also includes the presentation and group discussion of draft laws including: Law on Tax Administration (amended); Law on Thrift and Anti-Waste; Law on Civil Judgment Enforcement (amended); Law on Judicial Expertise (amended); Law on amending and supplementing a number of articles of the Law on Anti-Corruption; Draft Law on Digital Transformation; Law on High Technology (amended); Law on amending and supplementing a number of articles of the Law on Technology Transfer.

In addition, the National Assembly will also spend time in groups discussing the draft documents to be submitted to the 14th National Congress of the Party. This content will be arranged separately on the afternoon of November 5.

Source: https://dantri.com.vn/thoi-su/quoc-hoi-ban-nang-muc-giam-tru-danh-thue-thu-nhap-tu-giao-dich-vang-mieng-20251101220134847.htm