Vietnam to Introduce Personal Income Tax from Early 2009
Vietnam will start to apply the personal income tax from January 1 next year as approved by the country’s national assembly, the highest legislative body, Chairman of the body, Nguyen Phu Trong has said.
“The tax will take effect from Jan 1 next year as approved and if any amendments are to be made the Politburo, the most powerful body in Vietnam, is the body that will have authority to decide in January,” Trong told Vietnamese state media.
Phung Quoc Hien, chairman of the national assembly’s Finance and State Budget Committee also noted the national assembly’s standing committee has no mandate to amend the laws passed by lawmakers.
Nguyen Duc Kien, vice chairman of the assembly also confirmed the information.
Earlier this month, the Finance Ministry proposed two options to introduce the tax including delay the 20 per cent capital gain tax on stock transactions, state media said. (Financial Investment)
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