VIETNAM: In another step toward economic reform,...
VIETNAM: In another step toward economic reform, Vietnam will adopt its first national income tax system in April. Progressive tax rates will vary from 10% to 50% but exempt individuals earning less than $58 a month, the Vietnam Council of State announced. However, most Vietnamese probably will be exempt because the minimum monthly wage is just $50. The council said the revenues are needed to bail the nation out of a worsening financial crisis involving its depreciating currency, rising inflation and widespread unemployment.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.