Proposal to increase family deduction level

(QNgTV) - Raising the deduction level is necessary, because the family deduction level of 11 million VND/month applied since 2020 until now is no longer suitable for actual spending.

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In the draft resolution of the National Assembly Standing Committee on adjusting the family deduction level in personal income tax, applicable from the 2026 tax period, the Ministry of Finance proposed two options to adjust and increase the family deduction level.

Option 1, based on the increase in the consumer price index (CPI), the individual taxpayer will be deducted 13.3 million VND/month for himself and 5.3 million VND/month for each dependent. With option 2, based on the growth rate of GDP and average income per capita, the deduction will be 15.5 million VND/month for himself and 6.2 million VND/month for each dependent.

The representative of the Ministry of Finance said that the Ministry is currently collecting public opinions. Of which, option 2, which is calculated based on income and GDP per capita, received more consensus than option 1.

Raising the deduction level is necessary, because the family deduction level of 11 million VND/month applied since 2020 until now is considered to be no longer suitable for actual spending, especially in big cities like Hanoi and Ho Chi Minh City.

Source: https://quangngaitv.vn/de-xuat-nang-muc-giam-tru-gia-canh-6506161.html