What are regulations on base price of registration fees in Vietnam?
What are regulations on base price of registration fees in Vietnam? Thank you!
Base price for houses and land in Vietnam
Pursuant to Clause 1, Article 7 of the Decree 10/2022/ND-CP (takes effect from 01/03/2022) stipulating base price for houses and land in Vietnam as follows:
a) The base price for land is the price on the Land Price List promulgated by the People's Committee of the province or centrally affiliated city in accordance with regulations of the law on land in effect upon the declaration of registration fees.
If land is leased out by the state and a lump sum land rent is payable for the entire lease term but the lease term is shorter than the term of the type of land prescribed in the Land Price List promulgated by the People's Committee of the province or centrally affiliated city, the land price of the lease term for registration fee calculation is determined as follows:
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Land price of the lease term for registration fee calculation |
= |
Land price in the Land Price List |
x Lease term |
|
70 years |
b) The base price for houses is the price imposed by the People's Committee of the province or centrally affiliated city in accordance with regulations of the law on construction in effect upon the declaration of registration fees.
c) Base price for houses and land in special cases:
- The base price for a state-owned house sold to its current lessee in accordance with regulations of law on sale of state-owned houses, including the land thereunder, is the actual selling price pursuant to a decision of the People's Committee of the province or centrally affiliated city.
- The base price for a house or land purchased at an auction or bidding in accordance with regulations of laws on auctions and bidding is the actual hammer price or winning bid specified in the sales invoice or receipt in accordance with the law or the hammer price or winning bid according to the auction or bidding winning document, or the document approving the result of the auction, bidding (if any) of competent state agencies.
- The base price for a tenement or an apartment building includes its allocated land value. The allocated land value is determined by the land price in the Land Price List issued by the People’s Committee of the province or centrally affiliated city multiplied by the allocation coefficient. The allocation coefficient is determined in accordance with regulations of Decree No. 53/2011/ND-CP dated July 1, 2011 of the Government on detailing and providing guidelines for the implementation of a number of articles of the Law on Non-agriculture Land Use Tax and amendment or replacement documents (if any).
d) If the price of a house or land in the contract for transfer of the land use right or for purchase and sale of the house is higher than the price imposed by the People's Committee of the province or centrally affiliated city, the base price is the price specified in such contract.
Base price for properties being motor vehicles and equivalences in Vietnam
Pursuant to Clause 3, Article 7 of the Decree 10/2022/ND-CP (takes effect from 01/03/2022) stipulating base price for properties being motor vehicles and equivalences in Vietnam as follows:
The base price for properties being motor vehicles and equivalences (hereinafter referred to as "motor vehicles) and motorcycles prescribed in Clauses 6, 7 Article 3 of this Decree (except for trailers or semi-trailers towed by motor vehicles, special vehicles, special motorcycles) shall be the price in the decision on the table of base price (hereinafter referred to as “the Table of base prices”) promulgated by the Ministry of Finance.
a) A base price in the Table of base prices is determined on the principle that it is relevant to the existing market price at the time of development of the Table of base prices.
The existing market price for each type of motor vehicle, motorcycle (based on the vehicle type in case of a motor vehicle or motorcycle; based on the country of manufacture, brand, and the maximum payload capacity allowed to be in traffic in case of a truck; based on the country of manufacture, brand, and the number of people allowed for transportation, including the driver in case of a coach), is based on the database prescribed in Clause 2 of this Article.
b) Regarding a new type of motor vehicle or motorcycle which has not yet been included in the Table of base prices at the time of submission of the registration fee declaration, the tax agency shall, based on the database mentioned in Clause 2 of this Article, decide the base price for such motor vehicle or motorcycle (based on the vehicle type in case of a motor vehicle or motorcycle; based on the country of manufacture, brand, and the maximum payload capacity allowed to be in traffic in case of a truck; based on the country of manufacture, brand, and the number of people allowed for transportation, including the driver in case of a coach).
c) If a new type of motor vehicle or motorcycle has not yet been included in the Table of base prices or a motor vehicle or motorcycle has been included in the Table of base prices but its existing market price is increased or decreased by at least 5% compared to the price prescribed in the Table of base prices, the Department of Tax of the province shall submit a consolidated report on prices to the Ministry of Finance before the 5th day of the last month of the quarter.
The Ministry of Finance shall issue a decision on an amended Table of base prices before the 25th day of the last month of the quarter in order to apply it from the 1st day of the following quarter. The amended Table of base prices is issued in accordance with regulations on issuance of the Table of base prices in Point a of this Clause or on the basis of the arithmetic mean of the base price of the local tax agencies.
Base price for used properties in Vietnam
Pursuant to Clause 4, Article 7 of the Decree 10/2022/ND-CP (takes effect from 01/03/2022) stipulating base price for used properties in Vietnam as follows:
The base price for used properties (except for houses, land; used imported properties; used properties purchased by disposal of property under the established all-people ownership) shall be the residual value based on the useful life of such properties.
Regarding used motor vehicles, motorcycles, the base price is the residual value of new motor vehicles, motorcycles in the Table of base prices (based on the vehicle type in case of a motor vehicle or motorcycle; based on the country of manufacture, brand, and the maximum payload capacity allowed to be in traffic in case of a truck; based on the country of manufacture, brand, and the number of people allowed for transportation, including the driver in case of a coach). If there is no base price for new motor vehicles, motorcycles in the Table of base prices, the base price of used motor vehicles, motorcycles shall be the residual value of their equivalences in the Table of base prices.
Base price for other properties in Vietnam
As prescribed in Clause 2, Article 7 of the Decree 10/2022/ND-CP, base price for properties being hunting guns, guns for training or sports; ships including barges, canoes, tugs, pushers, submarines, and submersibles; boats including yachts; aircrafts prescribed in Clauses 2, 3, 4, 5 Article 3 of this Decree; frames, chassis assembly, engine assembly, and engine blocks of properties prescribed in Clauses 3, 4, 5, 6, 7 Article 3 of this Decree; trailers or semi-trailers towed by motor vehicles, special vehicles, construction machinery shall be the existing market price of each type of property.
The existing market price of each type of property is the following:
- Regarding domestically sold and purchased properties, the price specified in the legal sales invoice or receipt in accordance with regulations of laws on invoices and receipts, including value added tax (if any).
- Regarding domestically manufactured properties, the price notified by the genuine manufacturer.
- Regarding self-manufactured or manufactured by hired units properties, the selling price of the property of same or equivalent type, including excise tax (if applicable) and/or value added tax (if applicable). If such a property does not have the selling price of the property of same or equivalent type as its product price, plus (+) excise tax (if applicable), plus (+) value added tax (if applicable).
- Regarding imported properties (including imported used properties), the dutiable value in accordance with regulations of law on customs plus (+) import tax (if applicable), plus (+) exercise tax (if applicable) and plus (+) value added tax (if applicable); or on the price notified by the authorized importer on behalf of the foreign production or assembly enterprise. If the import tax is exempt in accordance with regulations, the base price shall include the exempted import tax.
- The base price on the registration fee management application of the tax agency; or the selling price of the same or equivalent type, including exercise tax (if applicable) and value added tax (if applicable).
Base price for properties acquired on installment purchase in Vietnam
Pursuant to Clause 5, Article 7 of the Decree 10/2022/ND-CP (takes effect from 01/03/2022), the base price for properties acquired on installment purchase shall be its lump-sum price (without the installment interest) determined in accordance with regulations prescribed in Clauses 1, 2, 3, and 4 of this Article, including the import tax (if applicable), excise tax (if applicable) and value added tax (if applicable);
Base price for properties purchased by disposal of property in Vietnam
Pursuant to Clause 6, Article 7 of the Decree 10/2022/ND-CP (takes effect from 01/03/2022), the base price for properties purchased by disposal of property under the established all-people ownership is the price specified in the sales receipts in accordance with regulations of the law on management and use of public properties.
Best regards!
