On the afternoon of July 31, Deputy Prime Minister Ho Duc Phoc met with ministries, branches, associations, securities and real estate enterprises on the draft Law on Personal Income Tax (replacement).
According to the report of the Ministry of Finance, the purpose of promulgating the Law on Personal Income Tax (replacement) is to expand the tax base; review, amend and supplement regulations on taxpayers and taxable income.
Study the adjustment of personal income tax thresholds and rates for certain types of income to ensure consistency with the nature of each type of income and the regulatory goals of personal income tax.
Study the adjustment of family deductions for taxpayers and dependents; amend and supplement regulations related to some specific deductions to suit the new context; reduce the number of tax rates of the progressive tax rate table in part applied to income from wages and wages to contribute to simplifying the tax table.
In which, 6 amended and supplemented contents are proposed; 3 additional contents are in the draft law.
First, perfect regulations related to income subject to personal income tax and how to calculate tax for each type of taxable income.
Second, complete the personal income tax exemptions to ensure consistency with reality and transparency in implementation.
Third, perfect the regulations on calculating personal income tax for business individuals; review the taxable revenue level for the income of business households and individuals to suit the practical situation.
Adjust tax rates for some income from providing software products and services; digital information products and services for entertainment, electronic games, digital movies, digital photos, digital music, digital advertising.
Fourth, amend and supplement regulations related to the deduction level when calculating personal income tax.
Fifth, adjust the collection of tax rates of the progressive tax table in part to apply to residential individuals with income from salaries and wages.
Sixth, review and amend regulations on tax calculation periods, tax deductions, and taxable income determination times; amend and supplement regulations on the responsibilities of organizations and individuals paying income and the responsibilities of taxpayers.
The draft law proposes to add 3 contents: Regulations on other income groups subject to personal income tax; Supplementing a number of regulations on tax exemption and personal income tax reduction; Supplementing other special deductions.
In his concluding remarks, Deputy Prime Minister Ho Duc Phoc emphasized that this law is related to many people, has a profound impact on people's lives and production and business activities of enterprises, so it is necessary to study and carefully assess the impact when designing and proposing new regulations and policies.
The Deputy Prime Minister requested the Ministry of Finance to study and absorb reasonable comments, especially related to the calculation of real estate transfer tax; stocks, dividends, bonus stocks; family deduction levels...
Thereby designing truly suitable regulations, drafting laws with the highest quality, submitting them to competent authorities for consideration and decision, ensuring feasibility after promulgation.
