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Realty tax needs revamp to ensure fairness

Realty tax needs revamp to ensure fairness

Realty tax not only creates sources of collection for the State budget but also is a policy able to spur growth and reduce bribery related to land. Vietnam does have realty tax. However, the way the collection of this tax is currently enforced cannot be said to be fair and effective. The positive impact of this tax on the economy is limited.

During Vietnam’s time of subsidy, the State did collect land tax, as defined by Decree 661-TTg dated Jan. 1, 1956. This tax was not high and was levied on both land and assets associated with it. At the time, agricultural tax was the biggest source for the State budget.

 

Southeast Asia’s largest renewable energy complex inaugurated in Ninh Thuan

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ADB wants to develop smart city project in Can Tho

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HCMC’s population forecast to reach 13-14 million by 2040

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HCMC Transport Dept proposes investing in 15 traffic projects

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GE in deal to build first wind farm in Lam Dong

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Ministry plans to develop Can Tho-Ca Mau expy in 2021-2025

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PM allows HCMC to decide investment policy of HCMC-Moc Bai Expressway

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Meet the Experts: Vietnam Hospitality Market 2021, What to Expect?

Meet the Experts: Vietnam Hospitality Market 2021, What to Expect?We are pleased to send you an exclusive invitation to Meet the Experts Conference on October 8th at Intercontinental Hotel Saigon on “Vietnam Hospit...

HCMC’s metro trains set to arrive home before Oct. 5

HCMC’s metro trains set to arrive home before Oct. 5Trains for the first metro line project in HCMC are expected to be transported from Japan to Vietnam before October 5, according to the HCMC Managemen...
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