In addition, the ministry proposed that tax should not have to be paid on capital investment activities, including securities investment, through 2009 and into 2010.

In the second half of this year, the ministry recommended that wage earners should be given a tax break of VND200,000 (US$11.50) and should be exempt from the PIT entirely if the amount of tax owed is less than VND200,000.

In the wake of the global economic crisis, the government last year implemented a stimulus policy that included delaying the implementation of the new Law on Personal Income Tax scheduled to take effect from January 1.

Reported by Xuan Toan