new-tax-threatens-vietnams-capital-markets

New tax threatens Vietnam's capital markets

The new personal income tax applies a unified tax rate to Vietnamese and foreign nationals.
VietnamÆs National Assembly passed a new personal income tax law that applies unified tax rates to Vietnamese and foreign nationals, introduces personal and family allowances, and increases the diversity of the tax base.

The changes that are most important to the capital markets are those that cover an individualÆs income from capital investments, such as capital assignment inclusive of income derived from securities transactions and real estate transfers. They will be taxed at 5% for capital investment income, which includes dividends and interest.

There will be a 20% tax for residents who earn capital assignment income or direct interest, such as holding an interest in a limited liability company, or on securities where capital gains...
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