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.”

Read the original article here: e.vnexpress.net


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