The real estate transaction process is currently stalled due to the absence of a new land price framework following the enforcement of the 2024 Land Law on August 1st. |
The Ho Chi Minh City Tax Department has issued an urgent dispatch, requesting the Ho Chi Minh City People’s Committee to convene a meeting to address land-related dossiers arising from August 1st, 2024. This is the third dispatch on this matter from the Tax Department within a month.
Specifically, the Tax Department proposed that the People’s Committee hold a meeting to agree on the application of land prices, land price adjustment coefficients, and the percentage used to calculate land rent so that tax authorities can promptly determine financial obligations related to land.
According to the Ho Chi Minh City Tax Department’s proposal, for land-related dossiers arising from August 1st, 2024, until the date before the Ho Chi Minh City People’s Committee issues a decision to adjust the new land price framework, the old land price framework for the 2020-2024 period will be applied.
As Ho Chi Minh City has not yet issued a new land price framework, there is a significant backlog in resolving dossiers related to real estate transfers, changes in land use purposes, and other land-related matters since the enforcement of the 2024 Land Law on August 1st.
In their second dispatch, the Tax Department stated that from August 1st to 27th, they had received a total of 8,808 dossiers. Of these, 346 were for collecting land use fees for cases of recognized land-use rights, and 277 were for collecting land use fees for cases of changing land-use purposes.
Additionally, there were 5,448 dossiers related to personal income tax from real estate transfers and 2,737 dossiers for cases with no financial obligations.
The Ho Chi Minh City Tax Department emphasized the urgent need to resolve challenges in applying legal documents when handling land-related dossiers following the enforcement of the 2024 Land Law.
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