The highest expected personal income tax rate is still 35%.

QNgTV- The Ministry of Finance has submitted to the National Assembly a draft Law on Personal Income Tax (amended), proposing to adjust the progressive tax schedule for individuals by reducing 7 levels to 5 levels and widening the gap between levels.

Minister of Finance Nguyen Van Thang presented the draft revised Law on Personal Income Tax on the morning of November 4. Photo: National Assembly Media

Accordingly, the lowest tax rate is 5% applied to income up to 10 million VND per month. The highest rate is still 35% for income over 100 million VND per month, instead of over 80 million as currently regulated.

The draft law also amends regulations on family deductions and deductions for charitable and humanitarian contributions. The government can adjust these deductions based on price and income fluctuations.

According to the resolution passed by the National Assembly Standing Committee, the deduction for the taxpayer himself is increased to 15.5 million per month (an increase of 4.5 million), for dependents to 6.2 million (an increase of 2.2 million). Thus, with the new deduction, an individual taxpayer (without dependents) with an income of 17 million VND per month, from the 2026 tax period, they do not have to pay tax, after deducting insurance and family deductions for themselves.

Source: https://quangngaitv.vn/thue-suat-thu-nhap-ca-nhan-du-kien-cao-nhat-van-la-35-6509688.html