The 16th National Assembly (NA) on April 23 continued the agenda for its first session, holding a plenary discussion on the draft Law on amendments and supplements to four key tax laws, including the Law on Personal Income Tax, Value-Added Tax, Corporate Income Tax, and Special Consumption Tax.

Continuing the agenda of the first session of the 16th National Assembly, legislators on the morning of April 23 discussed in plenary a draft law amending and supplementing a number of articles of the laws on Personal Income Tax, Value-Added Tax, Corporate Income Tax, and Special Consumption Tax.

A total of 462 out of 466 deputies present voted in favour, equivalent to 99.14%.

In just a few days, millions of Vietnamese taxpayers will begin to enjoy reduced financial pressure as new personal income tax (PIT) regulations, featuring higher deductions and a revised progressive tax bracket, take effect from January 1, 2026.

The National Assembly (NA) Standing Committee convened its 52nd session on December 2, giving opinions on key issues related to draft revisions to the laws on personal income tax, tax administration, and public debt management.

The Ministry of Finance has submitted a draft personal income tax law with key changes. The tax threshold for income from prizes, copyrights, business transfers, inheritance, and gifts rise from 10 million to 20 million VND.