Title: PERSONAL INCOME TAX POLICY TOWARD SUSTAINABILITY AND
FAIRNESS
Authors: Tan Nguyen Huu
and Thuong Nguyen Thu
|| ||
Tan Nguyen Huu1
and Thuong Nguyen Thu2 1,2. Academy of Finance, 58 Le Van Hien Street, Bac Tu Liem District, Hanoi City
MLA 8 Huu, Tan Nguyen, and Thuong Nguyen Thu. "PERSONAL INCOME TAX POLICY TOWARD SUSTAINABILITY AND FAIRNESS." Int. j. of Social Science and Economic Research, vol. 8, no. 10, Oct. 2023, pp. 3029-3040, doi.org/10.46609/IJSSER.2023.v08i10.001. Accessed Oct. 2023.
APA 6 Huu, T., & Thu, T. (2023, October). PERSONAL INCOME TAX POLICY TOWARD SUSTAINABILITY AND FAIRNESS. Int. j. of Social Science and Economic Research, 8(10), 3029-3040. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i10.001
Chicago Huu, Tan Nguyen, and Thuong Nguyen Thu. "PERSONAL INCOME TAX POLICY TOWARD SUSTAINABILITY AND FAIRNESS." Int. j. of Social Science and Economic Research 8, no. 10 (October 2023), 3029-3040. Accessed October, 2023. https://doi.org/10.46609/IJSSER.2023.v08i10.001.
References [1]. EUROMOD Homepage, https://www.euromod.ac.uk/
[2]. General Department of Taxation Homepage, https://www.gdt.gov.vn/wps/portal
[3]. UNU-WIDER SOUTHMOD Homepage, https://www.wider.unu.edu/project/southmod- simulating-tax-and-benefit-policies-development-phase-2
ABSTRACT: Tax-benefit microsimulation models can be utilized to address a range of policy questions. In
Vietnam, the personal income tax system has seven tax brackets, but its current progressive
taxation has been deemed unreasonable due to its numerous steps with narrow intervals, resulting
in abrupt tax step jumps. To improve the competitiveness of the economy in attracting foreign
experts and skilled workers and incentivize labor efforts, we have proposed three scenarios for
personal income tax brackets in Vietnam. The results indicate that a change in tax brackets,
which involves increasing tax revenue and reducing inequality, is the more favorable option.
However, changing the base tax deduction and additional tax deduction per dependent did not
lead to desirable outcomes. These findings emphasize the importance of designing tax policies
that achieve multiple objectives and are tailored to the specific circumstances of the situation.
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