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Vietnam's Finance Ministry has confirmed that the Government will not levy additional tax on those with more than one property in 2017.
Nguyen Van Phung, Deputy Director of the Ministry's tax policy department, said although the Government is studying a proposal to levy a tax on those with second homes, it will not be implemented in the coming year.
Phung added that currently there is no national synchronized information system for land and house registration records and it is therefore presently impossible to implement the proposal.
It is said that Vietnam's property market is facing issues because of low taxes on properties, with valuations for levies said to be outdated.
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