Vietnam signals cancellation of 20% tax proposal on real estate gains
Vietnam’s finance ministry has indicated it will not propose a 20-percent personal income tax on real estate profits in its revised income tax law, and instead plans to retain the current two-percent levy on transaction value, officials said.
The direction was shared at a government meeting on Thursday chaired by Deputy Prime Minister Ho Duc Phoc, according to Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association.
Deputy Finance Minister Cao Anh Tuan said the draft will not include taxes based on property sale gains or holding periods, as previously suggested.
The ministry said implementing such changes would require reliable data systems and alignment with broader reforms on land and housing policies.
A five-year roadmap is being considered to transition toward taxing real estate based on profit and length of ownership, the ministry said.
Bao Anh - Bao Ngoc / Tuoi Tre News
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