Vietnam’s personal income tax receipts in the first nine months of this year were down VND 7.2 trillion (US$299 million) over the same period last year, Tuoi Tre is reporting.
The article goes on to say this is due to a reduction in real estate transfer taxes which are included in personal income tax. It does, however, also notes business closures and layoffs have been a problem and quotes tax expert Tu Ngoc Nguyen as saying this is a sign taxpayers are in real trouble.