bóng đá hôm nay trực tiếpIs income from real estate transfers between biological parents and their children in Vietnam subject to PIT?

Isincome from real estate transfers between biological parents and their children in Vietnam subject to PIT?

Under Clause 1, Article 4 of bóng đá hôm nay trực tiếpPersonal Income Tax Law 2007, tax-exempt income is stipulated as follows:

Tax-exempt incomes

1. Incomes from transfer of real estate between spouses; parents and their children; adoptive parents and their adopted children; fathers-in-law or mothers-in-law and daughters-in-law or sons-in-law; grandparents and their grandchildren; or among blood siblings.

2. Incomes from transfer of residential houses, rights to use residential land and assets attached to residential land received by individuals who have only one residential house or land plot each.

3. Incomes from bóng đá hôm nay trực tiếp value of land use rights of individuals who are allocated land by bóng đá hôm nay trực tiếp State.

4. Incomes from receipt of inheritances or gifts that are real estate between spouses, parents and their children; adoptive parents and their adopted children; fathers-in-law or mothers-in-law and daughters-in-law or sons-in-law; grandparents and their grandchildren; or among blood siblings.

5. Incomes of households and individuals directly engaged in agricultural or forest production, salt making, aquaculture, fishing and trading of aquatic resources not yet processed into other products or preliminarily processed aquatic products.

6. Incomes from conversion of agricultural land allocated by bóng đá hôm nay trực tiếp State to households and individuals for production.

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Thus, income from real estate transfers between biological parents and their children in Vietnam is not subject to PIT.

Is income from real estate transfers between biological parents and their children in Vietnam subject to PIT? (Image from Internet)

What does taxable income from real estate transfer in Vietnam include?

Under Clause 5, Article 3 of bóng đá hôm nay trực tiếpPersonal Income Tax Law 2007, amended by Clause 1, Article 1 of bóng đá hôm nay trực tiếpLaw on Amendments to Personal Income Tax Law 2012, taxable income from real estate transferincludes:

- Income from bóng đá hôm nay trực tiếp transfer of land use rights and assets attached to bóng đá hôm nay trực tiếp land;

- Income from bóng đá hôm nay trực tiếp transfer of ownership or use rights of residential houses;

- Income from bóng đá hôm nay trực tiếp transfer of land lease rights, and water surface lease rights;

- Other income received from real estate transfers in any form.

What is thetime for determiningtaxable income from real estate transfer in Vietnam?

Under Clause 3, Article 14 of bóng đá hôm nay trực tiếpPersonal Income Tax Law 2007amended by Clause 6, Article 2 of bóng đá hôm nay trực tiếpLaw Amending Various Tax Laws 2014, bóng đá hôm nay trực tiếp regulation is as follows:

Taxable income from real estate transfer

1. Taxable income from real estate transfer is bóng đá hôm nay trực tiếp price of each transfer.

2. bóng đá hôm nay trực tiếp government shall decide bóng đá hôm nay trực tiếp principles and methods for determination of real estate transfer prices.

3. Taxable income from real estate transfer shall be determined when bóng đá hôm nay trực tiếp transfer contract takes effect as prescribed by law.

Thus, taxable income from real estate transfer shall be determined when bóng đá hôm nay trực tiếp transfer contract takes effect as prescribed by law.

What are bóng đá hôm nay trực tiếp regulations on bóng đá hôm nay trực tiếp real estate transfer pricefor calculating personal income tax in Vietnam?

Under Clause 1, Article 12 ofCircular 111/2013/TT-BTC, amended by Article 17 ofCircular 92/2015/TT-BTC, bóng đá hôm nay trực tiếp real estate transfer price for calculating personal income tax in Vietnam is determined as follows:

- bóng đá hôm nay trực tiếp price of transfer of right to use land without constructions thereon is bóng đá hôm nay trực tiếp price written on bóng đá hôm nay trực tiếp transfer contract at bóng đá hôm nay trực tiếp time of transfer.

If transfer contract does not specify bóng đá hôm nay trực tiếp price or bóng đá hôm nay trực tiếp price written on bóng đá hôm nay trực tiếp transfer contract is lower than bóng đá hôm nay trực tiếp land prices imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province at that time, bóng đá hôm nay trực tiếp land price imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province at that time shall apply.

- bóng đá hôm nay trực tiếp price of transfer of right to use land having constructions thereon, including off-bóng đá hôm nay trực tiếp-plan constructions, is bóng đá hôm nay trực tiếp price written on bóng đá hôm nay trực tiếp transfer contract at bóng đá hôm nay trực tiếp time of transfer.

If transfer contract does not specify bóng đá hôm nay trực tiếp land price or bóng đá hôm nay trực tiếp land price written on bóng đá hôm nay trực tiếp transfer contract is lower than bóng đá hôm nay trực tiếp land prices imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province at that time, bóng đá hôm nay trực tiếp land price imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province at that time shall apply.

In case of transfer of a house associated with land, bóng đá hôm nay trực tiếp value of bóng đá hôm nay trực tiếp house, infrastructure, and architectural works on bóng đá hôm nay trực tiếp piece of land shall be determined according to bóng đá hôm nay trực tiếp prices imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province. If prices are not imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province, regulations of bóng đá hôm nay trực tiếp Ministry of Construction on classification of houses, standards, basic construction norms, and value of remaining constructions on land shall apply.

For off-bóng đá hôm nay trực tiếp-plan constructions, if bóng đá hôm nay trực tiếp contract does not specify bóng đá hôm nay trực tiếp transfer price of bóng đá hôm nay trực tiếp transfer price is lower than bóng đá hôm nay trực tiếp ratio of capital contribution to total contract value multiplied by (x) land price and price imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province, bóng đá hôm nay trực tiếp transfer price shall equal bóng đá hôm nay trực tiếp price imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province multiplied by (x) ratio of capital contribution to total contract value. If bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province has not imposed bóng đá hôm nay trực tiếp unit prices, bóng đá hôm nay trực tiếp rate of construction investment announced by bóng đá hôm nay trực tiếp Ministry of Construction which is applicable when bóng đá hôm nay trực tiếp transfer is made shall apply.

- bóng đá hôm nay trực tiếp price of transfer of right to lease land/water surface is bóng đá hôm nay trực tiếp price written on bóng đá hôm nay trực tiếp transfer contract at bóng đá hôm nay trực tiếp time of transfer.

If bóng đá hôm nay trực tiếp sublease price written on bóng đá hôm nay trực tiếp contract is lower than bóng đá hôm nay trực tiếp price imposed by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province when bóng đá hôm nay trực tiếp sublease is taken, bóng đá hôm nay trực tiếp sublease rent is based on bóng đá hôm nay trực tiếp price list compiled by bóng đá hôm nay trực tiếp People’s Committee of bóng đá hôm nay trực tiếp province.