The (draft) Law on Personal Income Tax is attracting great attention from all stakeholders in the economy. The Ministry of Finance has organized broad consultation with relevant parties during the past few months.
As the lead agency in drafting the law, the Tax Policy Department at the Ministry of Finance would like to develop an econometric model so as to provide a scientific answer to the question of how the Law would best serve the economy. Therefore, the Embassy is pleased to support the Department by providing technical assistance to develop the model.
“This is the first time the impacts of tax legislations are forecasted and analysed by means of econometric modelling technique in our Department” Mr. Nguyen Ngoc Tuyen at the Tax Policy Department said, “We hope that this would provide a scientific basis for preliminary assessment of the Law and help the public to have a better understanding of the impacts of the law.”
The project is expected to start in September with initial assessment available in October. Final report may be made public in December this year. Leading local and international consultants will join hands together to develop the econometric model and the final report.