Việt Nam’s Ministry of Finance has proposed a 0.1% personal income tax on gold bullion transactions under the draft amended Law on Personal Income Tax — a move aimed at tightening oversight of the speculative gold market while contributing to State revenues. The tax would not apply to raw gold, jewellery, or fine-art gold. Experts view this as a strategic step toward greater market transparency. Nguyễn Quang Huy from Nguyễn Trãi University said the measure would help reduce speculative trading and formalise gold transactions. However, he urged the Government to exempt small-scale buyers, as gold saving is a traditional form of financial security for many Vietnamese families. The proposed rate, he added, is modest enough to avoid market shocks while establishing a data-driven mechanism for future policy adjustments. Other experts, such as Dr Nguyễn Ngọc Tú from the University of Business and Technology, argued that the 0.1% rate may be too low to deter speculation, noting it is even lower than taxes on retail businesses or real estate transactions. Economists suggested developing alternative investment tools—like gold ETFs, certificates, and government bonds—and introducing tax-free thresholds for small or long-term holdings to balance regulation with cultural saving habits. — VNS (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News