Vietnam Income Tax Payers Will Not Have to Pay Until May

The Finance Ministry has just received permission from the Politburo, the most powerful body in Vietnam, to delay the deadline for personal income tax payers until May this year instead of January 1 in government efforts to give a boost to the economic slowdown, state media said, citing Deputy Minister of Finance Do Hoang Anh Tuan.

 

The personal income tax approved by Vietnam's national assembly last year is effective from January this year.

 

Deputy Minister Tuan told mass media that the government is clarifying types of incomes and will submit to the assembly for approval during the next meeting slated for May.

 

"Up to 1.2 million households running business, 320,000 salary earners and 400,000 stock investors will benefit from VND1 trillion tax arrears from the decision each month, or VND5 trillion in total for five months of delaying," Deputy Minister Tuan noted.

 

"This is a very good move by local authorities, which receives a wide cheer from people," Nguyen Ngoc Tien, a stock investor with Sacombank Securities.

 

Meanwhile, Le Thi Ly, a house for lease owner, shared happily that the move will help boost spending.

 

Lawmaker of the central highlands province of Dak Nong, Nguyen Lan Dung, the delay is considered a timely tonic for the entire economy. (The People, News, Pioneer)