Vietnam: Shall people pay personal income tax for inherited assets? What are procedures xem bóng đá trực tiếp nhà cái heritance declaration?

Hello Mr. Viet An, LawNet wwould like to answer your questions as following:

1. Is inherited property payable for PIT?

Pursuant to Clause 9 Article 2Thông tư 111/2013/TT-BTCon taxable incomes, incomes from heritance include:

- Inherited securities: shares, call options on shares, bonds, treasury bills, fund certificates, and other securities according to the Law on Securities; shares xem bóng đá trực tiếp nhà cái the person in the joint-stock company according to the Law on Enterprises.

- Inherited capital in economic organizations and businesses: capital contribution to limited liability companies, cooperatives, partnerships, business cooperation contracts; capital in private enterprises and businesses xem bóng đá trực tiếp nhà cái the person; capital in associations and funds established within the law, or the entire business if the private enterprise or business is under the ownership xem bóng đá trực tiếp nhà cái the person.

- Inherited real estate: rights to use land, rights to use land and property thereon; ownership xem bóng đá trực tiếp nhà cái houses, including future houses, infrastructure and constructions on land, including off-the-plan constructions; rights to rent land or water surface; other incomes from inheritance being real estate in any shape or form, except for incomes from the inherited real estate mentioned in Point d Clause 1 Article 3 xem bóng đá trực tiếp nhà cái this Circular.

- The ownership and use rights xem bóng đá trực tiếp nhà cái other inherited assets (cars, motorbikes, ships, barges, speedboats, towboats, yachts, airplanes, hunting guns, sporting guns) must be registered with state agencies.

Moreover, according to Clause 4 Article 4Luật Thuế thu bóng đá hôm nay trực, incomes from receipt xem bóng đá trực tiếp nhà cái 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 are exempted.

Therefore, inherited property include securities, capital in economic organizations and businesses, real estate and other inherited assets must be registered with state agencies, are payable for tax, except for cases prescribed in Clause 4 Article 4Luật Thuế thu bóng đá hôm nay trực.

2. Procedures xem bóng đá trực tiếp nhà cái heritance declaration

2.1. Documents

Documents xem bóng đá trực tiếp nhà cái heritance declaration include:

- Death certificate xem bóng đá trực tiếp nhà cái the estate leaver;

- Copy xem bóng đá trực tiếp nhà cái testament (inheritance under a will);

- Documents in identity xem bóng đá trực tiếp nhà cái the heirs (household, identity card,...);

- Documents to prove personal relation between the heir and the estate leaver (inheritance by law);

- Documents xem bóng đá trực tiếp nhà cái assets (Certificates xem bóng đá trực tiếp nhà cái land use rights, ownership xem bóng đá trực tiếp nhà cái houses and other land-attached assets; certificate xem bóng đá trực tiếp nhà cái shares,...);

- Othẻ documents (certificate xem bóng đá trực tiếp nhà cái marital status, marriage certificate, etc.)

2.2. Heritage declaration

Pursuant to Article 57 and 58 xem bóng đá trực tiếp nhà cáiLuật vtv5 trực tiếp bóng đá hôm nay 2014 Số hiệu 53/2014/QH13 -: 

The heirs at law or under a testament which does not specify the portion xem bóng đá trực tiếp nhà cái the estate to be enjoyed by each heir may request notarization xem bóng đá trực tiếp nhà cái their written agreement on the division xem bóng đá trực tiếp nhà cái the estate.

A notary shall verify whether an estate leaver is the person having land use rights or asset ownership and the notarization requesters are estate heirs; if suspecting or having grounds to believe that the leaving and inheritance xem bóng đá trực tiếp nhà cái the estate are unlawful, the notary may reject the notarization request or conduct verification or solicit assessment at the request xem bóng đá trực tiếp nhà cái the notarization requester.

If the dossier is complete and in accordance with the provisions xem bóng đá trực tiếp nhà cái law, the notary agency shall accept the notarization xem bóng đá trực tiếp nhà cái the agreement on division xem bóng đá trực tiếp nhà cái the estate, the document declaring the inheritance.

- The acceptance must be listed within 15 days from the date xem bóng đá trực tiếp nhà cái listing. The listing shall be carried out by a notarial practice organization at the headquarters xem bóng đá trực tiếp nhà cái the commune-level People's Committee xem bóng đá trực tiếp nhà cái the last place xem bóng đá trực tiếp nhà cái residence xem bóng đá trực tiếp nhà cái the estate leaver; in case the last place xem bóng đá trực tiếp nhà cái permanent residence cannot be determined, it shall be listed at the place xem bóng đá trực tiếp nhà cái temporary residence with the last term xem bóng đá trực tiếp nhà cái the person or the place where the immovable property is the estate.

- After 15 days xem bóng đá trực tiếp nhà cái listing, if there is no complaint or denunciation, the notary agency shall certify the inheritance document. The co-heirs can make a written agreement on the division xem bóng đá trực tiếp nhà cái the inheritance or a written declaration xem bóng đá trực tiếp nhà cái inheritance.

Upon completion xem bóng đá trực tiếp nhà cái the above procedures for declaration xem bóng đá trực tiếp nhà cái inheritance, the estate beneficiary must carry out the procedures for registration xem bóng đá trực tiếp nhà cái property rights to the property subject to registration xem bóng đá trực tiếp nhà cái ownership in accordance with the law:

- For assets being land and houses, the heirs shall carry out registration procedures at the district-level land use right registration office in the locality where the land is located.

- For assets being cars and motorbikes, the heirs shall carry out registration procedures at the Vehicle Registration Office.

Best regards! 

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