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Vietnam Mulling Tax On Second Houses

by Mary Swire, Tax-News.com, Hong Kong

16 November 2016


Vietnam is considering levying a tax on those with more than one property, to free up housing supply and safeguard against the market overheating, the state news agency said.

In the article, posted on the Government's website, it was noted that the idea of such a tax was raised five years ago but was rejected. The Government has ruled out introducing such a tax next year, but said that the Finance Ministry is studying the proposal.

It is said that Vietnam's property market is facing issues because of low taxes on properties, with taxes instead applied based on the value of land, valuations for which are said to be outdated.

TAGS: individuals | Finance | tax | investment | property tax | mining | speculation | law | real-estate | tax authority | legislation | tax rates | tax reform | Vietnam | Tax

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