What is trực tiếp bóng đá k+ procedure for declaring personal income tax exemption on income from real estate in Vietnam?

What is trực tiếp bóng đá k+ procedure for declaring personal income tax exemption on income from real estate in Vietnam?

According to trực tiếp bóng đá k+ regulations specified in Section 4, Part 2, Appendix Administrative Procedures amended and supplemented in trực tiếp bóng đá k+ field of tax management under trực tiếp bóng đá k+ functional scope of trực tiếp bóng đá k+ Ministry of Finance issued together withDecision 2780/QD-BTC in 2023, trực tiếp bóng đá k+ procedure for declaring personal income tax exemption on income from real estate is as follows:

Step 1.trực tiếp bóng đá k+ individual transferring real estate subject to tax exemption (including future housing and construction works) prepares and submits trực tiếp bóng đá k+ tax exemption dossier along with trực tiếp bóng đá k+ tax declaration dossier according to regulations at one of trực tiếp bóng đá k+ following places:

- trực tiếp bóng đá k+ inter-agency one-stop section or;

- trực tiếp bóng đá k+ Tax Department where trực tiếp bóng đá k+ real estate is located.

If trực tiếp bóng đá k+ local area has not yet implemented trực tiếp bóng đá k+ inter-agency one-stop mechanism, trực tiếp bóng đá k+ dossier is submitted directly to trực tiếp bóng đá k+ Land Use Rights Registration Office where trực tiếp bóng đá k+ real estate is being transferred.

In cases where individuals transfer housing or construction works formed in trực tiếp bóng đá k+ future, they must declare and pay personal income tax at trực tiếp bóng đá k+ local Tax Department where trực tiếp bóng đá k+ housing or construction works are located.

Step 2.trực tiếp bóng đá k+ tax authority receives trực tiếp bóng đá k+ dossier:

For direct submissions at trực tiếp bóng đá k+ tax authority or submissions sent via postal service: trực tiếp bóng đá k+ tax authority shall receive and process trực tiếp bóng đá k+ dossier as regulated.

For submissions to trực tiếp bóng đá k+ tax authority through electronic transactions, trực tiếp bóng đá k+ receipt, inspection, approval, processing of trực tiếp bóng đá k+ dossier, and result delivery are carried out through trực tiếp bóng đá k+ tax authority's electronic data processing system.

For cases of transfer, inheritance, or gifting of real estate (including future housing, future construction works, construction works, housing transferred by trực tiếp bóng đá k+ project owner but have not yet received trực tiếp bóng đá k+ certificate of land use rights, housing ownership, and associated assets as regulated by trực tiếp bóng đá k+ housing law and real estate business law) between:

- Spouses;- Parents and children (biological and adoptive);- Parents-in-law and children-in-law;- Sons-in-law and daughters-in-law;- Grandparents and grandchildren (both paternal and maternal);- Siblings.

trực tiếp bóng đá k+ tax authorities are responsible for exploiting information in trực tiếp bóng đá k+ National Population Database as stipulated in Article 84 ofCircular 80/2021/TT-BTCto resolve trực tiếp bóng đá k+ tax exemption procedure for trực tiếp bóng đá k+ taxpayer.

If trực tiếp bóng đá k+ extraction of residency information of trực tiếp bóng đá k+ citizens from trực tiếp bóng đá k+ National Population Database cannot be carried out, trực tiếp bóng đá k+ taxpayer must provide relevant documents to determine trực tiếp bóng đá k+ tax exemption eligibility in each specific case.

Step 3.trực tiếp bóng đá k+ tax authority reviews trực tiếp bóng đá k+ dossier and returns trực tiếp bóng đá k+ result according to regulations.

What is trực tiếp bóng đá k+ procedure for declaring personal income tax exemption on income from real estate in Vietnam? (Image from trực tiếp bóng đá k+ Internet)

How to apply for personal income tax exemption on income from real estate in Vietnam?

According to trực tiếp bóng đá k+ regulations specified in Section 4, Part 2, Appendix Administrative Procedures amended and supplemented in trực tiếp bóng đá k+ field of tax management under trực tiếp bóng đá k+ functional scope of trực tiếp bóng đá k+ Ministry of Finance issued together withDecision 2780/QD-BTC in 2023, trực tiếp bóng đá k+ personal income tax exemption on income from real estate can be applied through trực tiếp bóng đá k+ following methods:

- Direct submission at trực tiếp bóng đá k+ inter-agency one-stop section or trực tiếp bóng đá k+ Tax Department where trực tiếp bóng đá k+ real estate is being transferred, inherited, or gifted, or at trực tiếp bóng đá k+ Land Use Rights Registration Office where trực tiếp bóng đá k+ real estate is located (if trực tiếp bóng đá k+ local area has not yet implemented trực tiếp bóng đá k+ inter-agency one-stop mechanism);

- Or sending via trực tiếp bóng đá k+ postal system;

- Or sending electronic dossiers to trực tiếp bóng đá k+ tax authority through electronic transactions (trực tiếp bóng đá k+ electronic information portals of trực tiếp bóng đá k+ General Department of Taxation, authorized government agencies, or T-VAN service providers).

How to declare personal income tax on income from real estate transfer in Vietnam?

Based on Clause 3, Article 26 ofCircular 111/2013/TT-BTC, trực tiếp bóng đá k+ personal income tax declaration on income from real estate transfer is as follows:

- Individuals with income from real estate transfer shall declare tax for each transaction, even if they are subject to tax exemption. Specific tax declaration cases include:

+ If individuals with land use rights, housing ownership use them as collateral, guarantee for loan, or repayment at credit institutions or foreign bank branches, and they are unable to repay trực tiếp bóng đá k+ loan by trực tiếp bóng đá k+ due date, trực tiếp bóng đá k+ credit institutions or foreign bank branches will handle and sell trực tiếp bóng đá k+ real estate. They must declare and pay personal income tax on behalf of trực tiếp bóng đá k+ individuals before settling personal debts.

+ If individuals with land use rights or housing ownership use them as collateral for loans or repayments to other organizations or individuals, and now they transfer all (or part of) trực tiếp bóng đá k+ real estate to settle debts, trực tiếp bóng đá k+ individuals with land use rights or housing ownership must declare and pay personal income tax, or trực tiếp bóng đá k+ organizations or individuals handling trực tiếp bóng đá k+ transfer must declare and pay personal income tax on behalf of trực tiếp bóng đá k+ individuals before debt settlement.

+ If trực tiếp bóng đá k+ real estate is transferred to another organization or individual by trực tiếp bóng đá k+ individual's court ruling, trực tiếp bóng đá k+ individual must declare and pay tax, or trực tiếp bóng đá k+ organization or individual handling trực tiếp bóng đá k+ auction must declare and pay personal income tax on trực tiếp bóng đá k+ individual's behalf. However, real estate confiscated by government authorities and auctioned off to trực tiếp bóng đá k+ State Treasury does not require personal income tax declaration or payment.

+ Real estate exchanges between individuals, not falling under agricultural land conversion cases eligible for personal income tax exemption as guided in Point d, Clause 1, Article 3 ofCircular 111/2013/TT-BTC, must be declared and paid by each individual involved in trực tiếp bóng đá k+ exchange.

+ If another organization or individual declares tax on behalf of a taxpayer for real estate transfer activities, they must add "Declared on behalf" before trực tiếp bóng đá k+ phrase "Taxpayer or Legal Representative" and trực tiếp bóng đá k+ signee must clearly state their name. If an organization declares, it must stamp its seal. trực tiếp bóng đá k+ tax calculation documents and tax receipts must still indicate trực tiếp bóng đá k+ actual taxpayer as trực tiếp bóng đá k+ individual transferring trực tiếp bóng đá k+ real estate.

- Real estate management authorities can only handle ownership and use rights transfer procedures when personal income tax receipts or tax authority confirmations on tax-exempt or delayed tax income from real estate transfer are available.