NA Chairman signs resolution on personal, corporate income tax cuts

National Assembly Chairman Tran Thanh Man has signed Resolution No. 43/2026/QH16, reducing personal and corporate income tax rates for Vietnamese residents and businesses. Individuals with annual revenue of up to VND10 billion (US$383,000) in 2026 and 2027 will see a 30 percent reduction in personal income tax for those tax periods.

Similarly, enterprises and organizations with similar revenue limits will also experience a 30 percent cut in corporate income tax for 2026 and 2027. However, this reduction does not extend to newly formed enterprises resulting from the division or separation of existing ones if their combined annual revenue surpasses VND10 billion in either 2026 or 2027.

Enterprises already benefiting from tax incentives under existing laws or National Assembly resolutions will have their 30 percent reduction calculated based on the adjusted corporate income tax amount after deducting those incentives. The resolution came into effect on August 24 and applies to the 2026 and 2027 tax periods.