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

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  • Last Updated on 2 August, 2025

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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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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied