Vietnam's Ministry of Finance is finalizing a draft of the New Personal Income Tax Law. Some notable proposed changes include:
- A reduction from 7 tax brackets to 5, with a bottom rate of 5% on monthly income up to VND 10 million and a top rate of 35% on monthly income above VND 80 million or 100 million (final top bracket under consideration);
- The introduction of a 20% capital gains tax rate on real estate transactions, levied on actual gains minus reasonable expenses, along with rates of up…