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Ho Chi Minh City set for rent tax

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Apartment buildings in Vietnam's Ho Chi Minh City. VIETNAM NEWS AGENCY

Ho Chi Minh City set for rent tax

The Ho Chi Minh City Department of Tax has sought approval from the People’s Committee to introduce a rent tax, and will start by trialling collection from apartment owners who have leased them out.

It will initially be trialled at five locations in the Vietnamese city’s District 11 – Res 11 Apartment Building, Thuan Viet Commercial and Residential Tower, Bao Gia Building, 70 Lu Gia Apartment Building and Khai Hoan Serviced Apartment.

The tax office will work with the managements of the buildings to identify which units are rented out and coordinate with the local police to identify permanent and temporary residents in the buildings.

Individuals and businesses that rent out units in the five buildings will be asked to provide information about apartment lease contracts that will be used to calculate taxes.

The department also proposed measures to prevent losses in collection of land use fees, registration fees and personal income tax.

It will review declarations of personal income tax and registration fees in real estate transfer deals in the city.

VIET NAM NEWS/ASIA NEWS NETWORK

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