[Opinion] Vietnam Plans Income Tax Overhaul | World Tax News Highlights

Editorial Team – [2025] 177 taxmann.com 6 (Article)

Vietnam Proposes Major Overhaul to Personal Income Tax Law
The Vietnamese government has unveiled a proposal to significantly reform its personal income tax framework. The proposed changes aim to revise income thresholds, tax rates, and deductions to better align with current economic conditions and income levels. Authorities intend to simplify tax administration for both taxpayers and enforcement agencies, while also promoting equity in tax collection. Public consultations are expected to be conducted before finalizing the reforms.

France to Accept but Not Implement Pillar One Amount B
France has confirmed its intention to accept the outcomes under OECD’s Pillar One Amount B, which standardizes the remuneration for baseline marketing and distribution activities. However, the country has also clarified that it will not implement Amount B domestically. This position reflects France’s cautious stance toward adopting OECD reforms that may conflict with its national tax policies, despite its general support for global tax coordination efforts.

UAE Issues Guidance on Depreciation for Investment Properties
The United Arab Emirates (UAE) has released new guidance clarifying how depreciation adjustments should be handled for investment properties held at fair value. The document outlines the tax treatment for fair value changes and provides direction on reconciling financial reporting with taxable income. This guidance will help businesses comply with corporate tax laws, especially given the country’s recent implementation of a federal corporate tax regime.

Global Tax Trends Highlight Diverse National Priorities
These developments underline how countries continue to tailor their tax policies to address domestic needs while responding to international frameworks like the OECD’s BEPS initiative. While Vietnam focuses on personal tax relief and simplification, France balances global cooperation with national interests, and the UAE moves toward greater tax clarity and compliance. Together, they reflect the ongoing evolution of global tax systems in an increasingly interconnected world.

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