Ministry unveils tiered Personal Income Tax rates for large business households
A key highlight of the proposal is the updated regulation on Value-Added Tax (VAT) and Personal Income Tax (PIT).
2022 personal income tax revenue hits $7bln
Figure exceeds annual target by 38 per cent.
Budget revenue from land and personal income taxes exceed plans
The Ministry of Finance has said that of the five revenue sources that exceeded estimates in the first nine months, the collection of house and land taxes did so by 18.4 per cent and the collection of personal income taxes by 8.8 per cent. However, many analysts believe that budget revenue from land is still quite low compared to many other countries.