Welcome to VietNet News. In this bulletin we look at three stories shaping Vietnam's economy on Tuesday, 3 November 2026: a tax cut for small firms, a rebound in gold prices, and a proposal that could sharply reduce tax fines for businesses awaiting dissolution.
1. A 30% tax cut for small firms
Vietnam is cutting income tax by 30% for small businesses and household businesses whose annual revenue does not exceed VND 10 billion, for the 2026 and 2027 tax years. The measure, under National Assembly Resolution 43/2026/QH16, was detailed in Government Decree 398/2026/ND-CP, signed on 29 October 2026. The Finance Ministry estimates the cut will reduce government revenue by about VND 6.7 trillion over two years, but expects it to reach almost all household businesses and more than 80% of enterprises. The policy is aimed at easing financing constraints and helping smaller firms invest and compete, at a time when operating costs remain elevated.
2. Gold rebounds on 3 November
Domestic gold prices rebounded on 3 November. SJC gold bars rose by VND 1 million per tael to VND 137–140 million per tael, buying and selling, while SJC gold rings traded at VND 132.8–136.8 million per tael. World gold also rose, to USD 3,947.7 per ounce, up more than USD 71. The rebound follows a sharp sell-off in the final sessions of last week, and it will be watched closely by households for whom gold remains a traditional store of value.
3. Tax fines may fall by up to 70% — but only as a proposal for now
Separately, the Finance Ministry has proposed reducing administrative fines for tax violations by up to 70% for businesses awaiting dissolution. About 1.6 million businesses could benefit if they file all outstanding tax returns, with the largest reduction reserved for early filers. The proposal is still a draft and is not yet in effect, and it would not cover tax evasion or cases under investigation. If adopted, it could help clear a long-standing backlog of inactive businesses and reduce the administrative cost of winding them up.
Conclusion
Taken together, the three stories point in the same direction: Vietnam is trying to lighten the tax burden on its smallest firms while tidying up the system for those that have already stopped trading. The tax cut is already in law; the fine reductions are still only a proposal. Both will matter most to the small businesses and households at the heart of the domestic economy.
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Channel: VietNet News (@nguontinvietnews)
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