HCMC – The Government wants income from gold trading to be taxed under the revised Personal Income Tax Law in a bid to promote market transparency and curb speculation.
The Government has issued Resolution 278/NQ-CP at its September law-making session, which included discussions on a draft of the amended Personal Income Tax Law, according to the Government news site.
As part of the resolution, the Government suggested that income from gold trading be explicitly subject to tax to improve market transparency and curb speculation.
The Ministry of Finance has been tasked with working with the State Bank of Vietnam to finalize this provision in the draft of the revised law.
Experts said taxing gold would not only boost State budget revenue but also create fairness with other investment channels and reduce the economy’s reliance on gold.
Earlier, the PM ordered strict measures against market manipulation and gold hoarding.
Since September 9, the Government Inspectorate and relevant ministries have launched an inspection into compliance with gold trading regulations, anti-money laundering rules, and invoice management by credit institutions and businesses.
