The risk is that only the rich can buy social housing, while low-income earners cannot.

Inadequacies in the calculation of personal income tax for social housing buyers need to be reviewed and adjusted to be suitable.

According to the new law and decree, an income of 15 million VND is considered low enough to buy social housing, but an income of over 10 million VND/month must pay personal income tax (PIT). This discrepancy between policy and regulation is something many people want to amend.

According to the spreadsheet personal income tax of salary levels, with an income of 15 million VND, each month the tax is 121,250 VND. Not a large amount, but for low-income people, every dong is precious.

Mr. Nguyen Ngoc Thuong - Le Thanh Apartment, Binh Tan District, Ho Chi Minh City said: "With a salary of 15 million, you have to pay personal income tax, but to borrow money from the bank and pay interest is a bit high for people with a monthly salary of 15 million because they still have to worry about their lives."

With an income of over 10 million, one must pay personal income tax, but in reality, people with an income of 15 million when buying social housing must also pay the principal and interest to the bank, not to mention other living expenses in big cities which are often higher than other localities. This is the unreasonable point.

Suppose a person has to borrow 1 billion VND for 10 years to buy a house with an interest rate of 6.5%/year, both principal and interest each month they will have to pay the bank nearly 14 million VND. This cost, even other living expenses, is not deductible or calculated before calculating personal income tax.

Mr. Le Huu Nghia - Chairman of the Business Association of Binh Tan District, Ho Chi Minh City commented: "The Government and the National Assembly should adjust the personal income tax law to increase to match many years of rising inflation. I think that 15-18 million VND/month of personal income tax for Ho Chi Minh City would be more appropriate."

Mr. Tran Dinh Thien - Economic expert commented: "Regarding the gap between regulations, we propose and make appropriate adjustments so that the poor can access them but do not have to pay additional fees according to their income."

The Government’s policy of building 1 million social housing units, along with many policies for builders and buyers, is receiving public attention, approval, and support. The shortcomings in calculating personal income tax for social housing buyers need to be reviewed and adjusted to be suitable. Because if not careful, only those with conditions can buy social housing, while low-income people cannot.

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