NA Discusses Tax Exemptions

The National Assembly (NA) Standing Committee on Wednesday agreed that there will be an opinion poll about the long-controversial bill on personal income tax.

An industrial zone employs returnees from rehabilitation centers for drug addicts

During their afternoon session, lawmakers recommended that interest on bank savings accounts and on life insurance contracts remain tax-exempt for the time being.

They also discussed the government’s two options for the lowest threshold at which income would be taxable, either VND4 million or 5 million per month.

Most NA members agreed that VND5 million is quite acceptable, because it will be the average income for people by the time the law takes effect in 2009.

The government also asked the NA to give a tax incentive to enterprises employing returnees from rehabilitation centers for drug addicts. However, NA members could not yet reach any agreement about the matter.

Reported by M.G – Translated by Thuy Hang

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