The Ministry of Finance proposes to add a 50% reduction of personal income tax on income from salaries and wages of high-tech individuals working in Information Technology
Deputy Minister of Finance Vu Thi Mai affirmed at the August regular government press conference on 30th August that amending and supplementing a number of articles of the 5 tax laws, are being widely consulted by the Ministry of Finance to restructure revenue sources and ensure state budget for investment, including:
- The Law on Value Added Tax
- The Law on Special Consumption Tax
- The Law on Natural Resource Tax
- The Law on Corporate Income Tax
- The Law on Personal Income Tax
In the context of many socio-economic changes, there are some issues that need to be amended and added to some of the tax laws to further develop the policy system consistent, fair, and efficient as well as to remove difficulties and problems for businesses.
Deputy Minister Vu Thi Mai. ( Internet Photo)
In particular, according to Deputy Minister Vu Thi Mai, the Law on Personal Income Tax will be amended: To supplement the personal income tax reduction policy for a number of hi-tech human resources in the fields of Information Technology
Previously, according to the Ministry of Finance, the inclusion of a draft personal income tax reduction policy on high-tech human resources was aimed at engaging high-level individuals in IT.
Therefore, the Ministry of Finance proposes to supplement the regulation on 50% reduction of personal income tax on income from salaries and wages of individuals who are hi-tech workers working in the field of information technology and lists of hi-tech products to be encouraged for development.