What are the regulations on the procedures and documentation for PIT exemption in case of transfer, inheritance or gift of real estate among family members in Vietnam?
- In what case will a taxpayer be exempted from PIT under the latest regulations?
- What are the regulations on the procedures and documentation for PIT exemption in case of transfer, inheritance or gift of real estate among family members in Vietnam?
- What are the regulations on the procedures and documentation for PIT exemption in case the State allocates land to an individual free of charge or grants land levy reduction in Vietnam?
- What are the regulations on the procedures and documentation for PIT exemption in case of relocation of agricultural land granted by the State for production among households and individuals in Vietnam?
- What are the regulations on the procedures and documentation for PIT exemption in case the transferring individual only has one house or one piece of residential land in Vietnam and it is eligible for PIT exemption in Vietnam?
In what case will a taxpayer be exempted from PIT under the latest regulations?
Pursuant to Point a, Clause 1, Article 52 of Circular 80/2021/TT-BTC and Clause 1, Clause 2, Clause 3, Clause 4, Clause 5, Clause 6, Article 4 of the 2007 Law on Personal Income Tax, the following cases shall be exempted from PIT:
- Incomes from transfer of real estate between spouses; parents and their children; adoptive parents and their adopted children; fathers-in-law or mothers-in-law and daughters-in-law or sons-in-law; grandparents and their grandchildren; or among blood siblings.
- Incomes from transfer of residential houses, rights to use residential land and assets attached to residential land received by individuals who have only one residential house or land plot each.
- Incomes from the value of land use rights of individuals who are allocated land by the State.
- Incomes from receipt of inheritances or gifts that are real estate between spouses, parents and their children; adoptive parents and their adopted children; fathers-in-law or mothers-in-law and daughters-in-law or sons-in-law; grandparents and their grandchildren; or among blood siblings.
- Incomes of households and individuals directly engaged in agricultural or forest production, salt making, aquaculture, fishing and trading of aquatic resources not yet processed into other products or preliminarily processed aquatic products.
- Incomes from conversion of agricultural land allocated by the State to households and individuals for production.
What are the regulations on the procedures and documentation for PIT exemption in case of transfer, inheritance or gift of real estate among family members in Vietnam?
Pursuant to Clause 1, Article 53 of Circular 80/2021/TT-BTC on procedures and documentation for PIT exemption in case of transfer, inheritance or gift of real estate between family members as follows:
- Regarding transfer, inheritance, gifting of real estate between two spouses, one of the following documents is required: copy of the family register, copy of the marriage certificate, court decision on divorce, remarriage (in case of division of a house due to divorce, consolidation of ownership due to remarriage).
- Regarding transfer, inheritance, gifting of real estate between a biological parent and biological child, one of the following documents is required: copy of the family register (if they share the same family register) or copy of the birth certificate. In case of an illegitimate child, it is required to have copies of the decision on parental recognition issued by a competent authority.
- Regarding transfer, inheritance, gifting of real estate between an adoptive parent and an adopted child, one of the following documents is required: copy of the family register (if they share the same family register) or copy of the decision on recognition of adoption issued by a competent authority.
- Regarding transfer, inheritance, gifting of real estate between a paternal grandparent and a grandchild, the following documents are required: copy of the birth certificate of the grandchild, copy of the birth certificate of the grandchild's biological father; or copy of the family register showing the relationship between the grandparent and the grandchild; or other documents showing the relationship between the grandparent and the grandchild certified by competent authorities.
- Regarding transfer, inheritance, gifting of real estate between a maternal grandparent and a grandchild, the following documents are required: copy of the birth certificate of the grandchild, copy of the birth certificate of the grandchild's biological mother; or copy of the family register showing the relationship between the grandparent and the grandchild; or other documents showing the relationship between the grandparent and the grandchild certified by competent authorities.
- Regarding transfer, inheritance, gifting of real estate between two siblings, the following documents are required: copy of the family register or copy of the birth certificates of the transferor and the transferee showing that they are children of the same parents, the same father or the same mother, or other documents proving their consanguinity certified by competent authorities.
- Regarding transfer, inheritance, gifting of real estate between two a parent-in-law and a child-in-law, the following documents are required: copy of the family register showing their relationship; or copy of the birth certificate and marriage certificate of the child-in-law.
- In case the transfer, inheritance, gifting of real estate is eligible for tax exemption mentioned in Clause 1 of this Article but the transferor or the transferee does not have a birth certificate of family register, it is mandatory to have confirmation of a competent authority of the relationship between the transferor and the transferee as the basis for determination of income eligible for tax exemption.
What are the regulations on the procedures and documentation for PIT exemption in case the State allocates land to an individual free of charge or grants land levy reduction in Vietnam?
According to Clause 2, Article 53 of Circular 80/2021/TT-BTC, the procedures and documentation for PIT exemption in case the State allocates land to an individual free of charge or grants land levy reduction, the application includes the copy of the decision on land allocation issued by the competent authority.
What are the regulations on the procedures and documentation for PIT exemption in case of relocation of agricultural land granted by the State for production among households and individuals in Vietnam?
Pursuant to Clause 3, Article 53 of Circular 80/2021/TT-BTC, the procedures and documentation for PIT exemption in of relocation of agricultural land granted by the State for production among households and individuals includes one of the following papers: Written agreement or contract on relocation between the parties which is certified by a competent authority.
What are the regulations on the procedures and documentation for PIT exemption in case the transferring individual only has one house or one piece of residential land in Vietnam and it is eligible for PIT exemption in Vietnam?
According to Clause 4, Article 53 of Circular 80/2021/TT-BTC, the procedures and documentation for PIT exemption in case the transferring individual only has one house or one piece of residential land in Vietnam and it is eligible for PIT exemption includes:
- the tax declaration dossier according to Point 9.3 of Appendix I of Decree No. 126/2020/ND-CP.
- the tax return form No. 03/BDS-TNCN in Appendix II hereof.
In addition, the application of PIT exemption specified in Clauses 1, 2, and 3, Article 53 of Circular 80/2021/Tt-BTC must be notarized and authenticated by competent authorities.
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