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The Ministry of Finance proposes to “tighten” the declaration of real estate prices in order to avoid tax losses

Issue a land price list every 5 years

The Finance Minister recently signed Official Letter No. 3849/BTC-TCT to the People’s Committees of Provinces and Centrally-Run Cities on Fighting Tax Losses on Business Activities and Real Estate Transfers.

According to the Ministry of Finance, many provincial people’s committees have recently developed programs to prevent tax losses on business activities, goods and services transfers. property and achieve certain results. However, there are still some implementation issues that make it difficult to prevent loss of income from business activities and real estate transfers.

The Ministry of Finance proposed to

The Ministry of Finance proposed “tightening” the declaration of real estate prices in order to avoid tax losses. (Photo: VNA)

Currently, the Department of Treasury is reviewing legal documents related to business activities and real estate transfers to amend and amend them to ensure consistency and synchronization with documents. relevant legislation.

In accordance with the provisions of the 2013 Land Law, the Provincial People’s Committee publishes the land price list, which is issued every 5 years, and annually publishes the land price adjustment coefficient.

Creation of a transaction price database

In order to ensure publicity and transparency in the state administration of business activities and real estate transfers, the provincial people’s committees are asked to pay attention to and guide a number of contents.

Accordingly, for land, road sections and roads already priced according to the land price list issued by the provincial-level People’s Committee and the land price adjustment coefficient: to apply to the provincial-level People’s Committee for the issuance of the land price list (including the adjustment of land prices) coefficient ) to facilitate tax calculation according to the above regulations.

For locations of land, road sections and roads for which prices are not listed in the land price list issued by the provincial people’s committee: request the provincial people’s committee to instruct the Ministry of Natural Resources and Environment to coordinate with other relevant authorities. Review and recommendation of the Provincial People’s Committee to immediately issue a decision on adjusting and supplementing the specific land price list for each location to ensure that it is consistent with the actual transaction price in the market and the actual land price. sold by investors.

If not already issued, request the investor in the region to publish the sale price in accordance with the regulations and to notify relevant organizations and individuals when transactions are carried out with future real estate formed. B. when declaring financial obligations in connection with the transfer of real estate.

In the case of real estate transfer dossiers submitted to the applicant bodies under the one-stop-shop mechanism (the Agency for Natural Resources and Environment, the Land Registry, the One-Stop-Shop Department of the People’s Committee of Vietnam) . ,…): The authority that receives dossiers under the one-stop-shop mechanism is responsible for disseminating the law, disseminating and guiding taxpayers to understand the location, street and specific determination and application of prices to be clearly identified. any type of real estate (including the land price adjustment coefficient prescribed by the Provincial People’s Committee) so that organizations and individuals understand and act properly when declaring financial obligations related to the transfer of real estate. moveable things.

Instructing the Ministry of Natural Resources and Environment to take primary responsibility for regular collection and coordination with relevant authorities to build a database of transaction prices from the transfer of real estate, as a basis for advising the provincial people’s committee to determine the annual Land price adjustment coefficients close to the actual transaction price in the real estate market to avoid loss of tax revenue.

The Ministry of Finance instructs the Tax Administration to provide the database in which taxpayers have declared their tax in case there is a price fluctuation higher than that issued by the People’s Committee (including the tax coefficient). land price adjustment) for the relevant departments to recommend the provincial people’s committee to issue a new price list and the timely adjustment coefficient according to the land law.

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