Three new types of income exempted from personal income tax from October 1

• Income from salaries and wages earned from performing science, technology, and innovation tasks.

• Income from copyrights related to science, technology, and innovation tasks when the results are commercialized in accordance with laws on science, technology, innovation, and intellectual property.

• Income of individual investors and experts working on start-up projects, founders of start-up enterprises, and individual investors contributing capital to venture capital funds.

At the same time, in the draft amended Personal Income Tax Law currently under public consultation, the Ministry of Finance has proposed additional tax incentives to align with the new law. These include: exempting salaries and wages from science, technology, and innovation tasks funded by the state budget; granting a two-year exemption and a 50% reduction in tax for the following four years on income earned by experts and scientists working at start-up enterprises, R&D centers, innovation centers, and organizations supporting start-ups.

Furthermore, a 50% tax reduction will apply to salaries and wages of high-tech professionals employed in enterprises and projects in high-tech, high-tech applications, information technology, science and technology, innovation, digital transformation, and other priority sectors identified by the government. Detailed implementation will be specified by the Government.