Hanoi: Continuing the agenda of the first session of the 16th National Assembly, legislators on the morning of April 23 discussed in plenary a draft law amending and supplementing a number of articles of the laws on Personal Income Tax, Value-Added Tax, Corporate Income Tax, and Special Consumption Tax. The draft proposes not stipulating specific revenue thresholds for exemption from personal income tax and value-added tax for household and individual businesses in the law, instead assigning the Government to set these levels. It also amends the Corporate Income Tax Law by adding a revenue threshold eligible for tax exemption, with the Government authorised to define the level and detail the exemption in line with Clause 15, Article 4 of Law No. 67/2025/QH15.

According to Vietnam News Agency, the discussion reflects a significant shift in the approach towards taxation for household and individual businesses. By not setting fixed thresholds within the law, the proposal allows for more flexible adjustments by the Government to respond to economic changes and needs. This move is expected to provide the Government with the ability to quickly adapt tax policies in response to economic conditions, potentially benefiting household and individual businesses.

Furthermore, the proposed amendments also include adjustments to the Corporate Income Tax Law, aiming to support businesses by defining clearer tax exemption criteria. This aspect of the draft law highlights an effort to streamline tax policies and reduce financial burdens on businesses that qualify under the specified revenue thresholds.