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On June 2nd, 2020, Standing Committee of the National Assembly issued Resolution No. 954/2020/UBTVQH14 increasing family circumstance deduction for personal income tax calculation purpose.
- The family circumstance deduction level for taxpayer increases from VND 9 million to VND 11 million/month.
- Deduction for dependents increases from VND 3.6 million to VND 4.4 million/ month/ dependent person.
- The Resolution will be in effect from July 1st, 2020 and the new family circumstance deduction level will be applied from the tax year 2020.