Ministry of Finance has new proposal to 'fight' real estate speculation

(CLO) The Ministry of Finance has just submitted to the Government a proposal to develop a draft Law on Personal Income Tax (replacement), which includes content on tax rates for income from real estate transfers.

In the Report, the Ministry of Finance said: The current personal income tax (PIT) policy of our country does not differentiate according to the real estate holding period of the transferor.

In order to limit real estate speculation, some countries in the world have used tax tools to increase the cost of speculative behavior and reduce the attractiveness of real estate speculation in the economy, including personal income tax.

Illustration photo. (Source: ST)

In addition, some countries also apply taxes on profits from real estate transactions in accordance with the frequency of transactions and the time of purchase and resale of real estate. If this time occurs quickly, the tax rate is higher, if it occurs slowly, the tax rate is lower.

In fact, recently, the Politburo and the National Assembly have issued many Resolutions related to the issue of perfecting tax and fee policies related to real estate.

And to implement these policies and orientations, to have a reasonable level of regulation, to avoid speculation and real estate bubbles, the Ministry of Finance proposes to study and implement tax collection on personal income from real estate transfers to have a reasonable level of regulation, to avoid speculation and real estate bubbles.

Source: https://www.congluan.vn/bo-tai-chinh-co-de-xuat-moi-chong-dau-co-bat-dong-san-post322827.html