Logo of Phnom Penh Post newspaper Phnom Penh Post - VN lowers income tax thresholds

VN lowers income tax thresholds

VN lowers income tax thresholds

H ANOI - Vietnam has liberalized income tax rules raising tax thresholds and

reducing the top tax rate for foreigners, an official newspaper reported on June

8.

The income at which foreigners start paying tax was raised to five

million dong (about $463) per month from three million dong (about $278), the

English-language Vietnam News said.

Vietnamese will start paying tax at

1.2 million dong (about $111) a month instead of 650,000 dong ($60) at

present.

Both scales in the new ordinance, which the newspaper said was

issued recently by the National Assembly and took effect on June 1, are

graduated in jumps of 10 percentage points up to maximum taxation levels of 60

percent for Vietnamese and 50 percent for foreigners. Foreigners will now pay

the maximum 50 percent rate on incomes of over 70 million dong (about $6,480) a

month, Vietnam News said. The previous maximum rate for foreigners was 60

percent on incomes of over 60 million dong (about $5,555). Vietnamese will pay

the maximum 60 percent on monthly incomes of over eight million dong ( about

$740).

MOST VIEWED

  • Phnom Penh authorities ban march for Human Rights Day

    Phnom Penh authorities have banned a planned march as local NGOs and workers’ unions gear up to celebrate the 70th anniversary of the signing of the Universal Declaration of Human Rights on Monday, with a youth group leader saying they would march nonetheless. The UN

  • Phnom Penh’s Jet’s Container Night Market shuts down

    The famous Jet’s Container Night Market in central Phnom Penh has shut down due to the high cost of the land rental, company representatives claim. Jet’s Container Night Market is the largest such market in Phnom Penh. It operated for just over two

  • Hun Sen rejects ‘rift’ rumours spread by ‘stupid gangsters’

    Prime Minister Hun Sen on Wednesday denied a “rift” among top leaders of the Cambodian People’s Party (CPP), and rejected claims that Senate president Say Chhum and Interior Minister Sar Kheng were set to be removed from their positions as rumours spread by “gangsters”.

  • EU ambassador to Cambodia: Rights a ‘work in progress’

    The EU ambassador to Cambodia has called human rights “a work in progress” and said the 28-nation bloc has “carefully” noted last week’s statement by the government on taking further steps to strengthen democracy and the political sphere in the Kingdom. The EU marked