Recently, Lao Dong Newspaper and National Economics University (NEU) jointly organized a workshop on “Personal Income Tax Law – Ensuring Fairness, Promoting Growth.” The workshop aimed to contribute to improving personal income tax policy in line with the socioeconomic context.

An overview of the conference

Representing NEU at the workshop were Assoc. Prof. Dr. Bui Duc Tho, Secretary of the Party Committee and Chair of the University Council; and Assoc. Prof. Dr. Phan Huu Nghi, Vice Dean of the School of Banking and Finance. Also attending were experts in taxation, finance, and economics, and representatives of regulatory agencies, businesses, and financial and banking institutions.

Speaking at the workshop, Assoc. Prof. Dr. Phan Huu Nghi, Vice Dean of the School of Banking and Finance, stated that personal income tax is one of Vietnam’s nine current taxes, contributing more than VND 198 trillion out of an estimated total revenue of over VND 1.9 quadrillion in 2024, or approximately 10% of total revenue. Its share of total revenue continues to increase, helping redistribute income and promote fairness.

Assoc. Prof. Dr. Phan Huu Nghi, Vice Dean of the School of Banking and Finance, presents a paper at the workshop

Alongside economic development, total personal income tax revenue in Vietnam showed a strong upward trend during 2020-2024. According to statistics, total personal income tax revenue increased by approximately 80% in just four years, nearly doubling. This raises several questions about the appropriateness of current tax policy, particularly the relationship between the growth rate of tax revenue and that of per capita income.

Notably, during this period, personal income tax revenue grew faster than per capita income and did not accurately reflect changes in real income. It is therefore necessary to review personal and dependent deductions as well as the progressive tax schedule to ensure a fairer tax policy that aligns with economic realities and the living standards of Vietnamese workers.

Assoc. Prof. Dr. Bui Duc Tho, Secretary of the Party Committee and Chair of the University Council of NEU, delivers concluding remarks at the workshop

In his concluding remarks, Assoc. Prof. Dr. Bui Duc Tho, Secretary of the Party Committee and Chair of the University Council, affirmed that the workshop had received many valuable contributions, reflecting diverse perspectives from experts, scholars, businesses, reporters, and media organizations. These contributions not only helped bring together practical approaches but also reflected the voices of the public in the process of refining policy.

The Organizing Committee will compile all comments and proposals presented at the workshop, study them, and submit them to the competent authorities to help develop more appropriate tax policies that ensure fairness among the State, businesses, and the public. International experience should be considered in ways that suit Vietnam’s realities, safeguarding the interests of businesses and the public within a transparent and effective tax system. Policymaking agencies have also listened to and taken into account views from various stakeholders. The most important goal is to develop a fair tax policy system that balances the interests of the State, businesses, and the public. International experience should be considered in ways that suit Vietnam’s realities, safeguarding the interests of businesses and the public within a transparent and effective tax system.

Assoc. Prof. Dr. Bui Duc Tho, Secretary of the Party Committee and Chair of the University Council, poses for a commemorative photo with experts and speakers at the workshop

Article and photos: Department of Communications

This is an automated translation. If you notice any errors, please contact the Department of Communications, National Economics University at phongtruyenthong@neu.edu.vn.