On the afternoon of May 13, the Presidential Office held a press conference to announce the President's Order announcing the laws passed by the 16th National Assembly at the first session.
At the press conference, Deputy Minister of Finance Cao Anh Tuan introduced some new points of the Law amending and supplementing a number of articles of the Law on Personal Income Tax (PIT), Law on Value Added Tax (VAT), Law on Corporate Income Tax (CIT) and Law on Special Consumption Tax (SCT).
With this law, the tax-exempt revenue threshold for individuals and business households of 500 million VND/year has been removed. Instead, the law assigns the Government to stipulate this threshold based on macroeconomic indicators and budget balancing capacity to stipulate annual revenue levels suitable to the socio-economic context in each period.
According to Deputy Minister Cao Anh Tuan, decentralizing power to the Government will create a legal basis for the Government to flexibly manage fiscal policy, including tax policy, and also institutionalize the contents stated in Conclusion No. 18-KL/TW, Resolution No. 66-NQ/TW, Law on Organization of the National Assembly and similar regulations assigning authority to the Government in a number of Laws and Resolutions of the National Assembly on current taxes.
Based on the provisions of this law, recently the Government issued Decree 141 dated April 29, 2026, stipulating the tax-exempt revenue threshold for individuals and business households is 1 billion VND, double the previous regulation.
Previously, Minister of Finance Ngo Van Tuan said that the revenue level to determine subjects not subject to VAT and being exempt from corporate income tax is a content that has fluctuations according to the socio-economic situation and needs to be assigned to the Government to regulate.
The Government will assess and analyze very specifically the impact, so that business households can exist and develop, transform into businesses, nurture revenue sources, impact budget revenue and especially impact growth to have the highest socio-economic efficiency when issuing this level.
The Minister of Finance also emphasized that the Government has comprehensively assessed the impact on budget revenue, the impact on economic growth and the impact on people and businesses when promulgating the Law.
The Law amending and supplementing a number of articles of the PIT Law, VAT Law, CIT Law and SCT Law takes effect from January 1, 2026.
