Tax man strictly manages real estate trading and transfer

VCN - The General Department of Taxation has continued to give specific instructions to local tax departments to strengthen the fight against tax losses in real estate trading and transfer.
Is real estate a safe haven during inflation? Is real estate a safe haven during inflation?
The Ministry of Finance requests to strengthen revenue loss prevention for trading and transfer of real estate The Ministry of Finance requests to strengthen revenue loss prevention for trading and transfer of real estate
Real estate bonds to be controlled Real estate bonds to be controlled
The General Department of Taxation suggests that tax units continue to effectively implement measures to prevent revenue loss in real estate business and transfer. Photo: Thu Hien.
The General Department of Taxation suggests that tax units continue to effectively implement measures to prevent revenue loss in real estate business and transfer. Photo: Thu Hien.


The country’s top tax agency said the tax sector has developed solutions to prevent loss of revenue in real estate business and transfer.

Following the guidance of the Ministry of Finance on the prevention of tax loss in real estate transfer, the General Department of Taxation has proposed local tax departments advise the People's Committees of provinces and centrally-run cities to request the Department of Natural Resources and Environment and relevant agencies to realize proposals of the Ministry of Finance.

The tax unit must provide the database which taxpayers have declared in case there is a price fluctuation higher than the one issued by the People's Committee (including land price adjustment coefficient) for the Natural Resources and Environment Agency.

The tax departments must ask units in charge of handling real estate transfer documents to strictly comply with the regulations on the order and procedures for handling documents to determine the financial obligations of taxpayers according to the provisions of the Regulation on contacting citizens at tax authorities at all levels and the process of receiving and handling administrative procedures of taxpayers according to the single window mechanism.

Furthermore, the tax unit must have a mechanism to monitor performance of tax officers in order to avoid harassment and causing difficulties for taxpayers; provide information and guide the declaration of real estate transfer prices for taxpayers.

The General Department of Taxation has also assigned the Department of Internal Audit; Settlement of complaints, denunciations and anti-corruption to direct the development of internal inspection contents, programs and plans or unexpected inspections; inspect the integrity of tax officers in the fight against tax loss for real estate transfer activities, ensuring the transparency and integrity of the tax industry.

Foreign capital poured into industrial real estate Foreign capital poured into industrial real estate

The Vietnamese industrial real estate market continued to record positive signals, attracting a large amount of foreign ...

The General Department of Taxation has required tax units to effectively implement measures to prevent revenue loss in real estate business and transfer, develop solutions or propose competent state agencies issue solutions for tax evasion in real estate transfer and business activities in accordance with the law.

By Thuy Linh/ Huyen Trang

Related News

Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.
Achievements in revenue collection are a premise for breakthroughs in 2025

Achievements in revenue collection are a premise for breakthroughs in 2025

VCN – Motivated by great efforts and effective implementation of solutions, as of December 10 the total State revenue from imports and exports saw a year-on-year increase of 13.8% to VND397,861 billion, meeting 106.1% of the estimate. The revenue us estimated to reach VND420,000 billion, meeting 112 % of the estimate, up 13.9% over the same period in 2023. The achievements in 2024 are a premise for a breakthrough in revenue collection in 2025.
Answering many questions from businesses at dialogue conference on tax and customs policies

Answering many questions from businesses at dialogue conference on tax and customs policies

VCN - Many opinions and recommendations related to tax and customs issues were raised by the business community at the dialogue on tax and customs policies and administrative procedures in 2024, organized by the Ministry of Finance.Representatives of the Ministry of Finance, the General Department of Taxation, and the General Department of Customs provided specific responses, and affirmed that they will continue to research and advise on the assessment, review, and amendment and supplementation of appropriate regulations.
Stimulate production and business, submit to the National Assembly to continue reducing 2% VAT

Stimulate production and business, submit to the National Assembly to continue reducing 2% VAT

VCN - Reducing value added tax (VAT) has an impact on the decrease of state budget revenue but also stimulates production and promotes business activities, thereby contributing to creating more revenue for the state budget.

Latest News

Ensuring financial capacity of bonds issuers

Ensuring financial capacity of bonds issuers

VCN - The Ministry of Finance is finalizing the draft Decree amending and supplementing Decree No. 155/2020/ND-CP detailing the implementation of a number of articles of the Securities Law. The amendment aims to continue to perfect the legal framework and overcome some shortcomings arising in the practice of the securities market.
Finance ministry announces five credit rating enterprises

Finance ministry announces five credit rating enterprises

One more company has been granted the certificate of eligibility since August.
The capital market will see positive change

The capital market will see positive change

VCN – Vietnam’s capital market has more balanced, harmonious and sustainable. However, besides the achievements, the market still faces many potential challenges. In order for the capital market to become an effective and sustainable capital mobilization channel, further improving the quality of goods and diversifying investors in the market is a key direction.
Corporate bond issuance value rises by 60 per cent

Corporate bond issuance value rises by 60 per cent

In the first 11 months of 2024, the total value of corporate bond issuances reached nearly VNĐ403 trillion, a 60 per cent increase year-on-year.

More News

Slower mobilization than credit may put pressure on interest rates

Slower mobilization than credit may put pressure on interest rates

VCN - According to the latest data from the State Bank of Vietnam (SBV), deposits in the banking system as of the end of September 2024 reached more than 14 million billion VND, an increase of 4.9% compared to the beginning of the year, but the rate was still slower than credit, which could put pressure on interest rates.
Fed’s foreseen rate cuts affect foreign exchange rate

Fed’s foreseen rate cuts affect foreign exchange rate

After the Fed’s move, the US dollar index (DXY) on December 19 hit nearly 108, the highest level in the past year.
Untying the knot for green finance

Untying the knot for green finance

VCN - Green finance is a crucial resource for greening businesses. Completing the policy framework for green finance is urgently needed to unlock this capital flow.
Ensuring efficiency and transparency in use and management of houses and land at State enterprises

Ensuring efficiency and transparency in use and management of houses and land at State enterprises

VCN - According to the Ministry of Finance, the issuance of Directive on strengthening management, improving the efficiency of use and handling of houses and land at State-owned enterprises to ensure the effective management, use and handling of houses and land for the right purposes, and to avoid loss and waste.
Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
General inventory of public assets raises efficiency of use and management of country

General inventory of public assets raises efficiency of use and management of country's resources

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by a representative of the Department of Public Asset Management (Ministry of Finance) at the press conference on the implementation of the General Inventory Project of public assets organized by the Ministry of Finance on the afternoon of December 18.
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN – Important national projects, inter-regional transport projects, riverbank and coastal erosion treatment projects all have disbursement rates lower than the estimated average disbursement rate of the whole country, the Ministry of Finance said.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
PM urges stronger measures to manage interest rates

PM urges stronger measures to manage interest rates

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to proactively, flexibly, promptly, and effectively manage the monetary policy in combination with the expansionary fiscal policy and others.
Read More

Your care

Latest Most read
Ensuring financial capacity of bonds issuers

Ensuring financial capacity of bonds issuers

VCN - The Ministry of Finance is finalizing the draft Decree amending and supplementing Decree No. 155/2020/ND-CP detailing the implementation of a number of articles of the Securities Law. The amendment aims to continue to perfect the legal framework and
Finance ministry announces five credit rating enterprises

Finance ministry announces five credit rating enterprises

One more company has been granted the certificate of eligibility since August.
The capital market will see positive change

The capital market will see positive change

VCN - The capital market is an important component of the financial market that provides medium-and long-term capital, contributing to effectively mobilizing and allocating resources and creating an essential material foundation for the grow of national e
Corporate bond issuance value rises by 60 per cent

Corporate bond issuance value rises by 60 per cent

In the first 11 months of 2024, the total value of corporate bond issuances reached nearly VNĐ403 trillion, a 60 per cent increase year-on-year.
Slower mobilization than credit may put pressure on interest rates

Slower mobilization than credit may put pressure on interest rates

According to the latest data from the State Bank of Vietnam (SBV), deposits in the banking system as of the end of September 2024 reached more than 14 million billion VND
Mobile Version