HO CHI MINH CITY -- Vietnam's parliament said it would increase income tax deductions by 40%, aiming to help families cope with inflation and "enjoy the fruits of socioeconomic development" at a time when businesses are worrying about plateauing consumption.
Economy
Vietnam to increase income tax relief to boost economy
US tariffs and communist nation's mission to lay off 20% of state workforce threaten spending
The Old Quarter in Hanoi on Sept. 1. U.S. tariffs are impacting key sectors of the Vietnamese export economy such as clothes, shoes and phones. © Reuters
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