Amendment to the Personal Income Tax Law: Clearly stipulate that income from gold trading activities is subject to taxation
Thursday, Sep/18/2025 - 07:44
Amendment to the Personal Income Tax Law to clearly stipulate that income from gold trading activities is subject to taxation, aiming to enhance market transparency and limit gold speculation.
(L&D) - The Government requested that income from gold trading activities be clearly stipulated as taxable to enhance market transparency and curb gold speculation. The Ministry of Finance was assigned to coordinate with the State Bank to incorporate this provision into the draft Law.
At the specialized legislative session in September 2025 (First Session) on September 13, 2025, the Government discussed and provided opinions on nine important draft laws in key areas of political, economic, social life, national security, defense, and foreign affairs.
Regarding the Draft Law on Personal Income Tax (Amended), the Government agreed on the necessity of developing the draft law to continue institutionalizing the Party’s guidelines and the State’s policies and laws on improving the overall tax policy system and personal income tax policy in particular; and to timely develop the draft law based closely on the content of policies already approved by the Government in Resolution No. 191/NQ-CP dated June 26, 2025.
The Ministry of Finance shall take the lead, in coordination with relevant ministries and agencies, to study and incorporate the Government Members’ opinions and the Prime Minister’s conclusions, completing the draft law to ensure the following requirements:
(1) Continue reviewing the provisions of the draft law to ensure compliance and consistency with the Constitution and relevant legal provisions (Land Law, Securities Law, Social Insurance Law, and laws on high technology, etc.); at the same time, meet the requirements of improving tax administration, ensuring correct, full, and timely collection, while ensuring equal treatment among taxpayers.
(2)Review and supplement income items (severance allowances, various allowances, living expenses paid by Vietnamese agencies abroad, etc.) into the list of tax-exempt income.
(3) Complete provisions on the progressive tax rate schedule according to Option 2 as reported by the Ministry of Finance in Submission No. 570/TTr-BTC dated September 7, 2025.
(4) Carefully assess the impact of personal income tax provisions on business income to avoid causing major disruptions to citizens’ business activities, while effectively implementing the policy to abolish fixed tax collection for business households and individual business operators under Resolution No. 68-NQ/TW dated May 4, 2025, of the Party Central Committee on private economic development, and Resolution No. 198/2025/QH15 dated May 17, 2025, of the National Assembly on certain mechanisms and special policies for private economic development.
(5) Clearly stipulate that income from gold trading activities is subject to tax to enhance market transparency and curb gold speculation. The Ministry of Finance is assigned to coordinate with the State Bank to agree on this content in the draft law.
Illustrative image (Image source: Internet)
(6)
Further strengthen decentralization and delegation of authority; specifically, stipulating that the Government shall provide detailed regulations on issues that remain variable to ensure flexibility in direction and administration.
The Ministry of Finance shall take the lead, in coordination with relevant ministries and agencies, to urgently complete the project dossier of the Law in accordance with the Law on Promulgation of Legal Documents. The Minister of Finance, authorized by the Prime Minister, shall, on behalf of the Government, submit the Draft Law to the National Assembly for consideration, feedback, and adoption at the 10th Session, 15th National Assembly (October 2025).
The Government assigns Deputy Prime Minister Ho Duc Phoc to supervise the process of completing this Draft Law.
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