It is difficult to determine the true value of real estate

This information has just been announced by the General Department of Taxation.

Status buy and sell two prices means that there is a difference between the actual purchase price and the price stated in the sales contract. Reviewing this situation is fraught with difficulties. One of the main reasons is that it is difficult to determine the real value of real estate at the time of purchase – sale.

In fact, the difference between the land price list regulated by the state and the real selling price is creating many holes and making it difficult to determine the price when trading. real estate.

Mr. Dao Trong Nghia, Go Vap District, City. Ho Chi Minh, said: “The basis for calculating the transfer price is that I will average the price of the lowest price set by the seller, which means that both the buyer and the seller will agree on a contract. reasonable prices”.

According to regulations, for the business of buying, selling and transferring real estate, individuals must pay income tax equal to 2% of the transfer value. It is necessary for tax authorities to review the situation of “two-price” real estate sales to avoid loss of budget revenue and increase transparency in the market. However, determining the selling price must be higher than the original price depends on each case.

Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association. Ho Chi Minh, commented: “We determine the declaration of prices according to normal market demand. We have not taken into account special cases, special cases such as a family experiencing an emergency. If you try to force a quick sale of the house in order to have money, people may sell it below the market price. That’s a fact.”

Mr. Nguyen Hoang Vu, Head of Notary Office District 12, City. Ho Chi Minh, said: “Currently, the tax authorities do not have a clear price bracket, so there are some difficulties. Most of the dossiers will be returned and required to declare the correct price. As for the people, in the past, the People can declare as much as they can freely declare according to the state’s price. Now declaring at actual prices, most people respond. In order to prevent tax loss, the notary office encountered many difficulties”.

In many cases, when buying and selling real estate, the parties agree to write down the selling price in the notarized contract many times lower than the actual value for mutual benefits. Therefore, according to experts, it is necessary to build a database integrated with the tax industry, and transactions also need to be transparent through documents. At the same time, the tax authority needs to establish a land price list with its own land price adjustment coefficient, as a basis for tax calculation.

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