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On April 24, 2026, the First Session of the 16th National Assembly approved amendments to several tax laws, including personal income tax (TNCN), value-added tax (VAT), corporate income tax, and excise tax. The changes adjust the revenue thresholds used to determine tax exemption and related obligations, with provisions scheduled to take effect from January 1, 2026.
Under the previous framework, the threshold for individuals and households subject to TNCN and VAT was fixed at 500 million VND per year. The National Assembly’s amendments instead grant the Government authority to adjust this threshold.
For corporate income tax, the amendments also delegate the Government to define the exemption threshold for enterprises with total annual revenue not exceeding 1 billion VND.
In its explanatory report, the Government proposed raising the threshold for TNCN and VAT for households and individuals to 1 billion VND.
Tax authorities estimate that currently about 2,556,042 households and individuals have annual revenue under 1 billion VND.
Under the Government’s proposal, the expected budget reduction is:
To align with the higher threshold for households and individuals, the report indicates it is also necessary to add a provision exempting corporate income tax for enterprises with total annual revenue not exceeding 1 billion VND.
If this corporate income tax exemption applies, the report estimates:
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