On the afternoon of October 3, during the Ministry of Finance’s quarterly press conference for Q3, a reporter inquired about the research on implementing a property tax.
Responding to this, Mr. Lưu Đức Huy, Director of the Department of Tax Policy Management and Supervision, stated that there have been no changes to the property tax policy. The Ministry of Finance is continuing to develop and research a tax policy suitable for the market in the coming period.
Mr. Huy further explained that specific tax policies are already in place for real estate transactions, covering registration, purchase, and transfer stages.
A comprehensive review of property taxation is necessary, and the Department of Tax Policy Management and Supervision is collaborating with relevant agencies to formulate a tax policy aligned with the Real Estate Business Law and Land Law.
Mr. Lưu Đức Huy, Director of the Department of Tax Policy Management and Supervision (Ministry of Finance), discusses property tax research. Photo: MINH TRÚC |
Regarding personal income tax on real estate transactions, Mr. Huy mentioned that the Ministry of Finance submitted Report 944 on September 29 to the National Assembly, proposing a draft Law on Personal Income Tax. The Economic and Financial Budget Committee has officially reviewed it. The Ministry is working with relevant units to finalize the draft for upcoming submission to the National Assembly.
Recently, the Ministry of Finance sought input from ministries, sectors, organizations, and individuals on proposals to levy personal income tax on property transfers based on holding periods.
After consolidating and incorporating feedback, the Ministry of Finance has refined the draft Law on Personal Income Tax, maintaining the current personal income tax policy for real estate transactions.
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Previously, in a report on personal income tax policy for property transfers, the Ministry of Finance suggested: A 20% personal income tax on property transfers and taxation based on holding periods should follow a suitable roadmap, ensuring alignment with other land and housing policies. Additionally, the readiness of tax infrastructure and information technology systems for land and property registration and transfers is crucial. This ensures tax authorities have sufficient information and legal grounds to accurately collect taxes, preventing arbitrariness and corruption. To ensure feasibility and practicality, the Ministry of Finance will maintain the current 2% tax on transfer prices and plans a 5-year roadmap to transition to transaction profit and holding period-based taxation. |
MINH TRÚC
– 17:28 03/10/2025
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