Do I have to pay taxes to practice real estate brokerage services as an individual in Vietnam?

Do I have to pay taxes to practice real estate brokerage services as an individual in Vietnam?

Pursuant to Article 62 of the Law on Real Estate Business 2014 has the following provisions:

1. Any real estate brokerage service providers must set up the enterprise and there are at least 2 employees obtaining real estate broker license (hereinafter referred to as broker license), excluding cases prescribed in Clause 2 of this Article.

2. Any individual is entitled to provide real estate brokerage services independently provided that he obtains a broker license and pay taxes as prescribed in law on taxation.

3. Any real estate service provider is not entitled to be both a broker and a contracting party in a real estate transaction.

Thus, according to the above regulations, the business of real estate brokerage services as an individual must also declare and pay tax. Therefore, when you do real estate brokerage business, you must declare and pay taxes in Vietnam.

What are rights of real estate brokerage service providers in Vietnam? 

Pursuant to Article 66 of the Law on Real Estate Business 2014, the rights of real estate brokerage service providers are as follows:

1. Provide real estate brokerage services as prescribed in this Law.

2. Request their clients to provide documents and information about the real estate.

3. Receive remunerations or commission as specified in the signed agreement.

4. Hire other real estate brokerage service providers to provide real estate brokerage services within the scope of the signed agreement provided that take responsibility for brokerage result to the clients.

5. Exercise other rights specified in the agreement.

What are obligations of real estate brokerage service providers in Vietnam? 

According to Article 67 of the Law on Real Estate Business 2014, obligations of real estate brokerage service providers are as follows:

1. Abide by the signed agreement.

2. Provide documents and information about the real estate brokered by them and take responsibility for documents and information provided by them.

3. Support contracting parties in negotiation and conclusion of agreement on real estate sale, transfer, lease, sublease or lease purchase.

4. Conform to the reporting as prescribed in regulations of law and subject to inspection carried out by competent agencies.

5. Pay compensation for damage caused by the provider.

6. Fulfill tax obligations to the State as prescribed in regulations of law.

7. Fulfill other obligations specified in the agreement.

Best Regards!