Ministry of Finance studies taxing people who own many houses and lands

(NLDO) - This research aims to concretize the Party's policies on land, as well as meet the requirements of socio-economic development.

On December 7, the Ministry of Finance said that this agency is researching and synthesizing international experience, identifying difficulties and shortcomings in the implementation of tax policies related to real estate in the past to have appropriate supplements and amendments to suit Vietnam's socio-economic conditions as well as international practices.

In particular, there is research on tax policies for cases of using large areas of land, many houses, abandoned land, land that has been assigned or leased but is slow to be put into use.

The Ministry of Finance is studying tax policies for people who own many properties.

According to the Ministry of Finance, the reform of tax policies related to real estate will be placed within the overall implementation of the Strategy for reforming Vietnam's tax system to 2030 approved by the Prime Minister.

Recently, there have been some 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.

Regarding this issue, the Ministry of Finance said that in performing the function of state management of real estate ownership and use, the State has issued revenues related to real estate arising in all three stages: 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, it is not currently collected for houses during the process of using real estate) and real estate transfer (corporate income tax, personal income tax, value added tax).

The Ministry of Finance emphasized 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 the land sector, it is necessary to have appropriate solutions, consistent with the conditions and context of our country, 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, research and amend the personal income tax policy on income from real estate transfers to suit the new requirements and context as well as practices in some countries. Thereby, contributing to promoting the economical and effective use of houses and land; limiting speculation on houses and land, promoting the transparent, stable and sustainable development of the real estate market.

Source: https://nld.com.vn/bo-tai-chinh-nghien-cuu-danh-thue-voi-nguoi-so-huu-nhieu-nha-dat-196241207143144146.htm