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China has required wealthy investors with offshore trust assets to declare them and pay tax. In October 2026, related personal income tax revenue exceeded 120 billion yuan, helping drive a 90% year-on-year increase in monthly personal income tax revenue. Tax authorities say they will investigate those who fail to declare their assets or file false declarations.
Vietnam’s tax authority issued a document on November 6 outlining personal income tax exemptions for property transfers, inheritances and gifts. To qualify for an exemption when transferring their sole home or residential land in Vietnam, individuals must meet three conditions: own only one such property, have held the right for at least 183 days, and transfer it in full.
Vietnam’s National Assembly approved the 2027 state budget resolution on November 9, allocating VND 80.4 trillion to wage reform. Budget revenue is projected to exceed VND 3,334 trillion, spending to exceed VND 4,073 trillion, and the deficit to reach VND 739.597 trillion.
