Vietnam Likely to Levy Tax on Stock Trading Income
The Ministry of Finance will study policies on levying tax on income from securities trading, mostly on short-term trading, said minister Vu Van Ninh at the National Assembly’s socio-economic conference recently.
The ministry will also seek measures to control and limit credit loans for securities investment.
Ninh said Vietnam will reorganize operations of the stock market. It will guide the free market to ensure healthy and fast growth of the stock market, hedging risks caused by rapid growth.
In 2006, Vietnam’s stock market developed significantly with market capitalization increasing by 20 times against 2005 and accounting for 22.7 per cent of the country’s GDP. (Liberated Saigon)
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