Vietnam Adjusts Tax Threshold For Individual Businesses

The Vietnamese government is considering a policy to exempt scientists from personal income tax when they perform specific science and technology tasks. The current threshold of 500 million VND per year may be raised to a new level determined by the government. This move is being discussed by delegates in response to public interest in tax policy. The committee stated the proposal aims to respond to community feedback and support small businesses. Officials noted the move demonstrates flexibility in government and National Assembly management to address practical economic needs. Vietnam is considering a policy change to raise the tax revenue threshold for individual business households to 1 billion VND per year. Approximately 2,560,000 households would benefit from this change. The move is expected to reduce budget revenue by approximately 16,650 billion VND compared to last year. The Vietnamese government has issued Decree 141 to modify tax policies for individual business households. Under the new decree, the revenue threshold for tax exemption is raised to 1 billion VND per year. The policy is projected to reduce state budget revenue by approximately 16.65 trillion VND compared to last year. The decree also includes changes to corporate income tax for small enterprises.