Vietnam’s Draft Tax on Unexplained Incomes Could Lead to Money Laundering

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Some members of Vietnam’s legislative National Assembly have expressed concerns about a proposal to slap a heavy tax on officials with unexplained incomes or assets, saying it could be used to launder money.

Under an amendment to the Anti-Corruption Law drafted by the Government Inspectorate, if authorities confirmed that a civil servant’s assets or incomes were greater than the values they declared, or they failed to provide valid explanations where they came from, they would face a 45 percent personal income tax bill.

National Assembly delegate Truong Trong Nghia said: “We should not impose a personal income tax on civil servants who fail to provide valid explanations for their assets, because the tax would only be levied on their legal incomes.”

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