“A separate tax law for real estate would not only increase convenience but also help localities manage, utilize, and develop their resources more effectively and sustainably,” said Dr. Tran Trung Kien from the University of Economics Ho Chi Minh City. Real estate tax, a form of property tax, is levied based on land and assets attached to land. Unlike other types of taxes, property tax has distinct characteristics that make both policy formulation and tax administration complex. Therefore, establishing an effective real estate tax system is essential yet challenging — not only in Vietnam but also in most countries around the world. For developing countries, property tax is generally imposed on land or real estate (land and assets attached to land). In Vietnam, there are currently several tax categories related to real estate, primarily including: (1) Non-agricultural land use tax – imposed on the right to use non-agricultural land, excluding houses and construction works on that land. The tax is calculated based on area and land price determined by usage purpose for each plot. (2) Land use fee – the amount individuals or organizations must pay when allocated land subject to use fees. Upon fulfilling this obligation, they are granted […]
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