Promulgating a land price list in line with the market price in Vietnam

Promulgating a land price list in line with the market price in Vietnam
Diễm My

This content is mentioned in Official Letter 3849/BTC-TCT on combating tax loss in business activities and real estate transfer in Vietnam issued by the Ministry of Finance on April 28, 2022.

Accordingly, in order to ensure publicity and transparency in the state management of real estate business and transfer in Vietnam, propose the provincial/municipal People's Committees of Vietnam to pay attention and direct some following contents:

- For locations of land, road sections, roads which have had price according to land price List and land price adjustment coefficients promulgated by the provincial People's Committees of Vietnam:

Requesting the provincial People's Committee to issue the land price List (including the land price adjustment coefficient) in order to facilitate the tax calculation in accordance with the above provisions.

- For the locations of land, road sections, roads not yet had price in the land price List issued by the provincial People's Committees of Vietnam: They include:

Request the People's Committee of the province to direct the Service of Natural Resources and Environment to cooperate with relevant agencies in reviewing and advising the People's Committee of the province to issue a Decision on adjustment to the land price list of each location to ensure the conformity with the actual market price and selling price of the investor.

In case of failure to promulgate a sale price, request the investor in the locality to publicize it according to regulations and notify concerned organizations and individuals of the sale of the future-acquired real estate as well as the performance of financial obligations related to the transfer of the real estate in Vietnam.

Details of the Official Dispatch No. 3849/BTC-TCT dated April 28, 2022


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