General Statistical Office reported that the dong depreciated by 45.6% in 2001-2007 and slid 9.19% in Jan-March 2008. But to date, the starting level subject to PIT has not yet been adjusted.
Pursuant the Clause 30 Ordinance No 35/2001/PL-UBTVQH10 dated May 19, 2005 governing PIT on high-income earners, in case the market price increases by 20% and higher, the government will propose changes in PIT benchmark to Standing Committee of the National Assembly.
Do Thi Thin, general Taxation Office's PIT division manager said that the ordinance is enforced until the end of 2008 and from 2009, the payment of PIT will be implemented in line with Law on PIT.
