Proposal to Organize a Meeting to Standardize Land Prices in Ho Chi Minh City
The Ho Chi Minh City Tax Department has recently sent a document to the city’s People’s Committee, proposing a meeting to discuss and agree on the application of land prices. The proposal suggests that for land-related dossiers arising from August 1st onwards, until the new land price framework is issued by the city’s People’s Committee, the old land price framework for the 2020-2024 period should be applied. This will enable the tax department to promptly calculate financial obligations for these land dossiers.
According to Mr. Nguyen Tien Dung, Deputy Director of the Ho Chi Minh City Tax Department, from August 1st to 27th, there were over 8,808 backlogged land transaction dossiers in the city. These included 346 dossiers for collecting land use fees for recognized land use rights, 277 dossiers for land use fee collection for change of land use purpose, 5,448 dossiers for personal income tax from real estate transfers, and 2,737 dossiers for cases with no financial obligations.
Mr. Dung stated that if the city’s People’s Committee agrees to apply the old land prices, the tax department will focus on processing and clearing the backlog of land dossiers.
Meanwhile, an inspector from the Ho Chi Minh City Tax Department’s land team mentioned that the 2024 Land Law stipulates that the land price plan must be presented to the competent authority before the law takes effect. In this case, the competent authority will decide on the specific land price according to the proposed plan.
Issuing the “Adjusted Land Price Framework” will contribute to socio-economic development. Photo: Tan Thanh
Therefore, before the 2024 Land Law came into force, the city’s land management agency had submitted the new land prices to the competent authority for approval. As a result, if the tax department applies the old land prices, it may face criticism for not complying with the 2024 Land Law, leading to delays in resolving land dossiers.
However, Mr. Nguyen Chien Luy, from the Foreign Affairs Department of the Ho Chi Minh City Tax Consultant and Agent Association (HTCAA), mentioned that the 2024 Land Law stipulates that land prices should be determined based on market principles. Thus, the tax department can wait for the city’s People’s Committee to announce the new land price framework to calculate financial obligations for land-use recognition and change of land-use purpose dossiers. For real estate transfer dossiers, the tax department can refer to the actual buying and selling prices to calculate personal income tax, as has been the practice for many years.
In cases where the declared prices in these dossiers are too low, the tax department can rely on its data to determine a reasonable price for tax calculation. By doing so, the number of real estate transfer dossiers can be resolved, meeting part of the transaction demand of the people.
Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, mentioned that they have proposed a classification of dossiers related to land use fee calculation to unblock tax-related bottlenecks in the city. Specifically, they requested the tax department to immediately process 2,737 dossiers related to real estate transfers, as these dossiers do not incur tax obligations.
At the most recent meeting chaired by the Ministry of Natural Resources and Environment to address Ho Chi Minh City’s challenges in applying the land price framework according to the 2024 Land Law, it was clarified that for all backlogged dossiers arising after August 1st, the tax department should adhere to the principle of applying the legislation in force at the time of receipt of the dossier.
The Standing Committee of the Ho Chi Minh City Party Committee has promptly concluded on the development of an “Adjusted Land Price Framework” to be applied in the city from now until December 31, 2025. The relevant departments are urged to expedite the formulation and issuance of this framework to contribute to the socio-economic development of the city.
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