Proposed revision of the Law on Personal Income Tax (PIT) to increase the starting point of taxation on personal income from VND 4 million to VND 9 million per monthWhile the government proposed to raise its reduction based on family circumstances themselves taxpayers VND 04 million / month to VND 09 million / month; deductions for each dependent from VND 1.6 million / month to VND 3.6 million / month budget, thus the Finance Committee of the National Assembly said that just VND 07 million and VND 2.8 million respectively for the above is reasonable.On September 13atthe11thmeetingthe Standing Committee ofthe National Assemblyforcommentsontheprojectamended Law on PersonalIncome TaxVND 09 millionis reasonableAs reported by the governmentthecountryisabout3.87millionindividualincometaxpayableFinance CommitteeCongressionalbudget had calculation that iftheamendmentstotheLawontracktoimprovefamily circumstances deductionsresultingin100ofthetaxpayersingrade1willnothavetopaytax72ofthetaxpayersingrade2willbetransferredtothetaxpayeringrade 1numberoftaxpayerswasnegligibleonlyabout 1million peopleIn addition, the Finance Committee also said that the budget raised the family circumstances deductions for dependents up VND 3.6 million would be unfair between the employee and theUnemployment. In fact, there have a lot of department officials and civil servants are receiving lower wages than VND 3.6 million. Therefore, if the specified family circumstances deductions for dependents to 3.6 million / month, will lead to lower-income workers will not work, not to ensure fairness.However, theproposalislower" family circumstances deductionsofFinance and BudgetCommittee comment withoutthe consentofthememberoftheStanding Committee ofthe National AssemblyVice Chairman HuynhNgoc SontosupporttheGovernment's plansforthetwofamily circumstances deductionsHe saidthestatetaxpayermoneybuthowusethat moneyeffectivelycorruptionwasteis the most importantChairman oftheForeign Relations CommitteeTranVanHang,ChairmanoftheJudiciary CommitteeNguyenVan Hiensupporttofamily circumstances deductionsasproposedbytheGovernmentbecause this worksgreatencouragementforemployees.National AssemblyVice ChairmanNguyenThiKimNgan had speech toconcludethismatterrequested the Committeedrafted andverificationneed to haveasolidargumentwhenproposingreductionbasedonfamilycircumstancestherefore Standing CommitteeoftheNational Assembly check for considerationbefore submitting them totheNationalAssemblyin coming session

Proposed revision of the Law on Personal Income Tax (PIT) to increase the starting point of taxation on personal income from VND 4 million to VND 9 million per month

13/09/2012

While the government proposed to raise its reduction based on family circumstances themselves taxpayers VND 04 million / month to VND 09 million / month; deductions for each dependent from VND 1.6 million / month to VND 3.6 million / month budget, thus the Finance Committee of the National Assembly said that just VND 07 million and VND 2.8 million respectively for the above is reasonable.

On September 13, at the 11th meeting, the Standing Committee of the National Assembly for comments on the project amended Law on Personal Income Tax.

VND 09 million is reasonable?

As reported by the government, the country is about 3.87 million individual income tax payable. Finance Committee Congressional budget had calculation that if the amendments to the Law on track to improve family circumstances deductions, resulting in 100% of the taxpayers in grade 1 will not have to pay tax; 72% of the taxpayers in grade 2 will be transferred to the taxpayer in grade 1; number of taxpayers was negligible, only about 1 million people.

In addition, the Finance Committee also said that the budget raised the family circumstances deductions for dependents up VND 3.6 million would be unfair between the employee and the Unemployment. In fact, there have a lot of department officials and civil servants are receiving lower wages than VND 3.6 million. Therefore, if the specified family circumstances deductions for dependents to 3.6 million / month, will lead to lower-income workers will not work, not to ensure fairness.

However, the proposal is "lower" family circumstances deductions of Finance and Budget Committee comment without the consent of the member of the Standing Committee of the National Assembly.

Vice Chairman Huynh Ngoc Son to support the Government's plans for the two family circumstances deductions. He said the state taxpayer money but how use that money effectively, corruption waste is the most important.

Chairman of the Foreign Relations Committee Tran Van Hang, Chairman of the Judiciary Committee Nguyen Van Hien ... support to family circumstances deductions as proposed by the Government because this works great encouragement for employees.

National Assembly Vice Chairman Nguyen Thi Kim Ngan had speech to conclude this matter requested the Committee drafted and verification need to have a solid argument when proposing reduction based on family circumstances, therefore Standing Committee of the National Assembly check for consideration before submitting them to the National Assembly in coming session.

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Proposed revision of the Law on Personal Income Tax (PIT) to increase the starting point of taxation on personal income from VND 4 million to VND 9 million per month

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