The Ministry of Finance believes that in order to improve the efficiency of land management and use, it is necessary to study solutions for tax collection on houses in general or tax on ownership of multiple houses and land in particular.
Regarding the imposition of real estate tax on cases of owning and using multiple houses and lands, on December 6, the Ministry of Finance said that in order to improve the efficiency of land management and use, it is necessary to study solutions for collecting taxes on houses in general or taxes on ownership of multiple houses and lands in particular.
Recently, the Ministry of Finance said it has received some public opinions that imposing real estate tax on cases of owning and using many houses and lands at this time is not appropriate, and it is necessary to carefully study the time and method of taxing to avoid causing shock leading to massive sell-offs in the market.
According to the Ministry of Finance, the State has currently issued revenues related to real estate arising in the process of establishing ownership and use rights of real estate (land use fees, land rent, registration fees); real estate use (non-agricultural land use tax, agricultural land use tax.
However, currently, in Vietnam there is no tax on houses (in use) and real estate transfers (corporate income tax, personal income tax, value added tax).
The Ministry of Finance said that in order to institutionalize the policies and orientations stated in Resolution No. 18-NQ/TW dated June 16, 2022 of the 13th Party Central Committee on continuing to innovate and perfect institutions and policies, improving the effectiveness and efficiency of land management and use, creating momentum to turn our country into a high-income developed country, it is necessary to have appropriate solutions, consistent with the conditions and context, including researching solutions to collect taxes on houses in general or taxes on ownership of multiple houses and land in particular.
At the same time, personal income tax policies on income from real estate transfers also need to be revised to suit new requirements and contexts, as well as practices in some countries.
Thereby, the use of houses and land is economical and effective, contributing to limiting speculation, promoting the real estate market to develop transparently, stably and sustainably.
The Ministry of Finance is researching and synthesizing international experience, identifying difficulties and shortcomings in the implementation of tax policies related to real estate (including cases of using large areas of land, housing, abandoned land, land that has been assigned or leased but is slow to be put into use) to report to competent authorities at the appropriate time, ensuring compliance with Vietnam's socio-economic conditions, international practices as well as the consistency of the tax policy system related to real estate.
The implementation of reform of tax policies related to real estate is placed within the overall implementation of the Strategy for reforming Vietnam's tax system to 2030 approved by the Prime Minister.
Recently, the Ministry of Finance has issued an official dispatch to widely solicit opinions from relevant organizations and individuals on the proposal to develop a new Personal Income Tax Law to replace the current Personal Income Tax Law, including research and amendment of personal income tax policy on income from real estate transfers.
The Ministry of Finance will synthesize and study comments; review and evaluate the Law on Personal Income Tax to report to the Government, report to the National Assembly Standing Committee, and the National Assembly to consider amendments and supplements according to the National Assembly's Law-making Program.
Previously, to limit real estate speculation, the Ministry of Construction recently proposed a solution to tax people who own two or more houses and lands./.
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