The National Assembly has finalized plans to "increase the tax deduction and levy on trading in gold bars" starting in 2026.

(Dan Tri) - The revised Law on Personal Income Tax stipulates that the deduction for taxpayers is 15.5 million VND/month (186 million VND/year), and the deduction for each dependent is 6.2 million VND/month.

On the morning of December 10th, the National Assembly voted to approve the amended Personal Income Tax Law with 438 out of 443 attending National Assembly deputies voting in favor (92.6% of the total number of National Assembly deputies). The law consists of 4 chapters and 30 articles, and will take effect from July 1st, 2026.

In the recently passed law, the National Assembly finalized the content regarding the taxation of income from the transfer of gold bars.

The government stipulates the tax threshold for gold bars, the timing of tax collection, and the adjustment of personal income tax rates on gold bar transfers in accordance with the gold market management roadmap.

The National Assembly session on the morning of December 10 (Photo: Hong Phong).

Clause 1 of Article 7 of the regulations on personal income tax on business income states that "Resident individuals engaged in production and business activities with annual revenue of VND 500 million or less are not required to pay personal income tax."

The government is submitting to the Standing Committee of the National Assembly a proposal to adjust the income threshold exempt from personal income tax to suit the socio -economic situation in each period.

This amount represents an increase of 300 million VND compared to the current regulations.

Explaining this content earlier, Finance Minister Nguyen Van Thang said the Government has added a basis to determine the non-taxable revenue threshold of VND500 million/year, ensuring that this non-taxable threshold is appropriate, does not destroy the livelihoods of small business households and individuals, and ensures livelihood and social security issues.

At the same time, this regulation also ensures fairness in taxation and does not affect or hinder the conversion of eligible household businesses into enterprises.

Regarding regulations on personal deductions, the amended Personal Income Tax Law clearly states that "The deduction for taxpayers is VND 15.5 million/month (VND 186 million/year)", and "The deduction for each dependent is VND 6.2 million/month".

Based on fluctuations in prices and income, the Government submits to the Standing Committee of the National Assembly regulations on the appropriate level of personal allowance deductions in accordance with the socio-economic situation in each period.

Determining the personal allowance for dependents follows the principle that each dependent can only be claimed as a deduction once by one taxpayer.

A dependent is a person whom the taxpayer is responsible for supporting, including: minor children; children who are incapacitated, disabled, or unable to work;

Other dependents are individuals who have no income or have income not exceeding the level prescribed by the Minister of Finance, including adult children studying at university, college, vocational high school or vocational training; spouses who are unable to work; parents who are past working age or unable to work; other people without support that the taxpayer must directly support.

Minister of Finance Nguyen Van Thang (Photo: Hong Phong).

Regarding the regulations on progressive tax rates, the Law has adjusted two tax brackets in the tax schedule, reducing the tax rate from 15% (at bracket 2) to 10% and the tax rate from 25% (at bracket 3) to 20%.

According to the Minister of Finance, with this new tax schedule, all individuals currently paying taxes at all levels will have their tax obligations reduced compared to the current tax schedule. In addition, the new tax schedule has also overcome the sudden increase at some levels, ensuring a more reasonable tax schedule.

Earlier that morning, 437 out of 448 National Assembly delegates present (92.39% of the total number of National Assembly delegates) voted to pass the Law on Tax Administration.

Source: https://dantri.com.vn/thoi-su/quoc-hoi-chot-nang-muc-giam-tru-danh-thue-kinh-doanh-vang-mieng-tu-2026-20251210083812864.htm