Tax changes likely to create equality

New regulation: A shopkeeper attending to a customer in Hanoi. Vietnam aims to create fairness among large business individuals and small enterprises, while promoting transparency in business activities. — Reuters

HANOI: Experts have supported Vietnam’s Finance Ministry’s proposal to apply a 17% personal income tax on profits of a number of business individuals and households as the policy change creates fairness while transforming companies into viable enterprises.

However, the experts also noted, there must be a detailed impact assessment of the change before any application to make the policy effective.