The Vietnamese National Assembly on Tuesday voted to approve changes to the country's personal income tax rules, including the introduction of a new 20% tax on income from stock investment.
The changes were reportedly approved by nearly 80% of deputies, and are set to come into force in January 2009.
According to a Viet Nam News report, in addition to the 20% stock tax, which is not expected to have a significant adverse impact on the still developing stock market, personal income tax thresholds were adjusted, and taxation levels set for income from dividends and interest, royalties, lottery wins, and other gains from gifts or inheritances.
The new stock tax has reportedly met with mixed reactions, with some observers suggesting that it may help to prevent damaging speculative investments, while others argue that the rate has been set too high.
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