The laws include the revised Law on the Capital; the revised Law on Access to Information; the revised Law on Civil Status; the Law amending and supplementing a number of articles of the Law on Emulation and Commendation; the revised Law on Belief and Religion; the Law amending and supplementing a number of articles of the Law on Overseas Representative Missions of the Socialist Republic of Vietnam; the Law amending and supplementing a number of articles of the Law on Personal Income Tax, the Law on Value-Added Tax, the Law on Corporate Income Tax, and the Law on Special Consumption Tax; the Law amending and supplementing a number of articles of the Law on Notarization; and the Law amending and supplementing a number of articles of the Law on Legal Aid.
Following the promulgation of the revised Law on the Capital, Deputy Minister of Justice Dang Hoang Oanh affirmed that the special mechanisms and policies stipulated in the law constitute a highly important condition for Hanoi to proactively and effectively remove institutional bottlenecks, thereby unlocking resources to accelerate key projects and enhance the city’s attractiveness to investors.
“This is a concrete manifestation of the principle that localities are empowered to make decisions, implement policies, and take responsibility for their actions,” the Deputy Minister said, adding that the law also strengthens requirements on power control, inspection, supervision, and accountability of the capital’s administration during the implementation process.
Regarding the Law amending and supplementing a number of articles of the four tax laws, Deputy Minister of Finance Cao Anh Tuan stated that the new tax policies have initially received positive feedback from business households and enterprises.
Deputy Minister Cao Anh Tuan said that during the submission of the draft law to the National Assembly, the drafting agency had conducted impact assessments and found that around 2.5 million business households would not be subject to tax payments once the revenue threshold is raised to VND1 billion (US$38,000). In addition, approximately 235,800 enterprises are also expected to benefit from the new policies.
Regarding accounting book requirements and revenue declarations for business households with annual revenue of under VND1 billion, the Deputy Minister of Finance said the ministry had reviewed regulations to minimize administrative procedures.
Accordingly, business households with annual revenue below VND1 billion will only be required to declare their revenue starting from January 31, 2027. In terms of accounting requirements, such households only need to maintain a simple annual revenue record book for self-monitoring purposes.
If annual revenue exceeds VND1 billion, tax declarations and payment obligations will apply in 2027. Otherwise, business households will only need to submit a notification to the tax authority for confirmation that they are not subject to tax payments. The procedures are generally basic, Deputy Minister Cao Anh Tuan noted.
