HIGHLIGHTED NEWS
In the latest draft of the Law on Personal Income Tax (amended), the Ministry of Finance has finalized the proposed personal income tax (PIT) rate for income from securities transfer and real estate transfer. Accordingly, the Ministry of Finance has decided to withdraw the 20% tax mechanism on income from securities transfer. Instead, investors' income from securities transfer continues to be taxed at a rate of 0.1% on the value of each transfer. At the same time, the revised draft also adds a provision that in case the purchase price and costs related to the capital transfer cannot be determined, PIT will be calculated at 2% of the selling price, applied uniformly to both resident and non-resident individuals. Regarding real estate, the Ministry of Finance also withdrew the proposal to calculate personal income tax at 20% on the difference between the selling price and the purchase price (after deducting related expenses), or directly on the selling price based on the holding period if the cost price cannot be determined. The Ministry of Finance affirmed that it will continue to research tax tools to effectively manage the real estate market, limit speculation, increase transparency and ensure fairness in tax obligations.
TRADING STRATEGY
The stock market closed in the green at 1,696 points with liquidity slightly increasing compared to the previous trading session. Cash flow improved and spread across most groups and industries under the leadership of leading stocks in the finance, basic resources, technology, and retail sectors. Meanwhile, downward pressure appeared in a few individual stocks in the real estate, oil and gas, and tourism services sectors. Today's VN-index is likely to fluctuate around the 1,690-1,710 point area.
The market moved sideways within a narrow range and recovered positively at the end of the session. Although the general sentiment was still quite cautious, the return of large-cap stocks to the position of regulating the index has somewhat helped improve demand on a broader scale, instead of selectively diversifying as before. Foreign investors reduced net selling. Overall, the VN-Index is currently in a dominant uptrend and is getting closer to its target of conquering the psychological zone around 1,700 points or further to the next resistance zone around 1,740-1,760 points. However, investment opportunities may still lie in specific stocks instead of being diversified. Therefore, investors should prioritize asset management according to each individual stock in the portfolio, and consider taking profits/partially reducing the proportion of stocks that have met profit expectations or the recovery momentum shows signs of weakening. New buying activities should focus on a number of stocks with stable price bases, reasonable valuations or supporting fundamental factors.
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