Urgently implement measures to prevent tax loss in the real estate sector

DNHN - The Minister of Finance continued to direct the General Department of Taxation to urgently advise solutions to closely determine market prices to avoid tax loss.

From the end of 2021 until now, the Minister of Finance has repeatedly directed the General Department of Taxation and local tax departments to take measures to prevent tax loss in business activities and real estate transfer. At the same time, guide people and businesses to declare the correct transfer price, improve management efficiency, and ensure state budget revenue. 

However, in recent times, it has been reported that in some places, tax officials have caused difficulties and harassment for people and businesses. Therefore, the Minister of Finance continues to direct the General Department of Taxation to urgently advise on solutions to closely determine market prices to avoid loss of tax revenue; It is necessary to continue to closely coordinate with notarial practice organizations and relevant State agencies to effectively implement measures to prevent tax loss in business activities and real estate transfer. 

In addition, the General Department of Taxation also requested the General Department of Taxation to strengthen inspection and strictly handle violations of civil servants. Every quarter, there must be a report assessing the results of the work against tax loss in business activities and real estate transfer; The results of the inspection of the taxpayer's dossier make additional declarations but do not change the transfer price. 

According to data from the tax industry, revenue from real estate transfer has continuously increased in recent years, from 15,000 billion VND in 2019 to 16,800 billion VND in 2020 and 21,700 billion VND in 2021. Particularly in the first three months of the year. Currently, this revenue is 8,280 billion VND, but according to the assessment, the above revenue is not consistent with the actual operation of the market.

PV