HANOI, Dec. 10 (Xinhua) -- Vietnam's National Assembly on Wednesday approved the amended personal income tax law, setting the highest marginal tax rate at 35 percent, local media VnExpress reported.

Under the revised law, which will take effect on July 1, 2026, the current seven-tier tax bracket structure will be reduced to five tiers, with wider income ranges.

The top marginal rate of 35 percent will apply to taxable income above 100 million Vietnamese dong (about 3,975 U.S. dollars), compared with the current threshold of above 80 million Vietnamese dong (about 3,180 U.S. dollars).

Meanwhile, the lowest rate of 5 percent will apply to monthly taxable income up to 10 million Vietnamese dong.

Vietnam's average per capita income in the first three quarters of 2025 was 8.3 million Vietnamese dong, according to data from the National Statistics Office. (1 Vietnamese dong equals 0.000038 U.S. dollars) Enditem