Responding to press inquiries regarding adjustments to personal deductions, at the regular quarterly press conference for Q2 2025 organized by the Ministry of Finance on the afternoon of July 2nd, Deputy Director of the Tax Policy Department Truong Ba Tuan stated that, based on a comprehensive assessment of obstacles and shortcomings and international references, the draft Personal Income Tax Law (replacement) is expected to focus on adjusting six major areas.
This includes refining and amending regulations related to determining taxable income and calculating taxes on each type of income to align with current trends and contexts.
Review and supplement the personal income tax exemptions for high-tech, green energy, and innovation sectors; study adjustments to the taxable revenue of household and individual businesses to suit practical realities, moving away from rigid regulations in the law and allowing the Government to flexibly adjust them to suit each stage.
The study proposes adjusting personal allowances to accurately and promptly reflect changes in people's living standards and economic indicators; adding deductions related to healthcare and education expenses; and redesigning the progressive tax rate schedule to streamline tax brackets, simplify the schedule, and make it easier to apply.
Responding to press questions about upgrading the stock market, Vice Chairman of the State Securities Commission Hoang Van Thu said that the goal is for the Vietnamese stock market to be upgraded this year.
First, regarding the completion of the legal framework, the Ministry of Finance issued Circular No. 68/2024/TT-BTC amending and supplementing a number of articles of the circulars regulating securities transactions on the securities trading system; clearing and settlement of securities transactions; operations of securities companies and information disclosure in the securities market.
After implementation, these regulations have been highly appreciated by foreign institutional investors.
In addition, the Committee coordinated with the State Bank of Vietnam to issue a circular on reducing administrative procedures for foreign investors, especially procedures for opening payment transaction accounts…
Currently, there are still some elements that need to be perfected, such as clearer and more specific regulations to avoid misunderstandings about the central clearing and settlement model. Central clearing and settlement should not only be for derivative securities but also for the underlying securities market.
Furthermore, the foreign ownership limit in listed companies has been adjusted to be more flexible, clearly reflecting the government's open-minded approach.
In addition, the Ministry of Finance and the State Securities Commission continue to maintain regular dialogue with investment organizations, while closely coordinating with the World Bank to verify the information system and support the assessment process of international rating agencies.
With thorough preparation, a proactive approach, and effective dialogue capabilities, the Committee believes the stock market has the foundation to be upgraded as early as the September 2025 review.
Adding further to the above issue, Deputy Minister of Finance Nguyen Duc Chi said that one of the important factors that rating agencies are interested in is the assessment of foreign investors when participating in the Vietnamese stock market.
Therefore, if there are any areas that can be improved to make it easier for foreign investors to participate in the Vietnamese stock market, these improvements should be continued.
Source: https://hanoimoi.vn/sap-sua-luat-thue-thu-nhap-ca-nhan-707820.html
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