Ho Chi Minh City: Tens of thousands of real estate documents are returned because of low prices

According to the statistics of the first quarter, the Ho Chi Minh City Tax Department has proposed to adjust nearly 10,900 out of more than 48,300 dossiers, accounting for 22% – that is, about one in every 5 dossiers submitted is returned to fix the price. declared selling price too low.

Many real estate transactions have low price declaration records. Illustrations

Status of multiple records buy and sell real estate being paid for declaring the transfer rate not in accordance with the normal transaction rate in Ho Chi Minh City, which is affecting the settlement of dossiers at tax authorities. The additional tax collected was VND 147 billion, equal to 83% of the whole year of 2021, of which the Thu Duc City Tax Department alone paid nearly 2,000 out of a total of more than 10,700 dossiers, collecting more than VND 92 billion.

Recently, the Ministry of Finance and the General Department of Taxation have repeatedly requested tax departments to tighten the calculation of real estate transfer tax, forcing the transaction parties to declare the correct price on the market. The tightening of the real estate transfer tax calculation method, forcing the seller to declare the correct transaction price is the right policy, thereby also helping to increase the revenue for the budget. In fact, now that the phenomenon of declaring two prices when buying and selling real estate has decreased, the tax revenue from real estate transfer has therefore increased.

However, taxpayers and price declaration assessment units face many problems in the process of verifying the real value of land and land purchase and sale contracts.

Currently, the units are proposing to the People’s Committee of Ho Chi Minh City to soon issue a minimum land price list for general application, making it easier for officials to determine the price. At the same time, the General Department of Taxation should soon issue a process to provide specific instructions on how to handle and responsibilities of tax authorities in case the taxpayer declares the real estate transfer price lower than the actual transfer price. Support to make tax payment documents quickly, accurately and completely.

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