vtv5 trực tiếp bóng đá hôm nayWhat taxes are applicable to incomes from real estate transfer in Vietnam in 2024?

What taxes are applicable to incomes from real estate transfer in Vietnam in 2024?

Real estate transfer vtv5 trực tiếp bóng đá hôm nay includes various taxes payable when transferring real estate.

- Corporate Income vtv5 trực tiếp bóng đá hôm nay

Based on Clause 2, Article 3 of theLaw on Corporate Income vtv5 trực tiếp bóng đá hôm nay 2008amended and supplemented by Clause 2, Article 1 of the2013 Amended Law on Corporate Income vtv5 trực tiếp bóng đá hôm nay, and Clause 1, Article 1 ofLaw No. 71/2014/QH13 on Amendments to vtv5 trực tiếp bóng đá hôm nay Laws 2014, income from the transfer of real estate is subject to corporate income vtv5 trực tiếp bóng đá hôm nay.

- Personal Income vtv5 trực tiếp bóng đá hôm nay

According to Clause 5, Article 3 of theLaw on Personal Income vtv5 trực tiếp bóng đá hôm nay 2007amended by Clause 1, Article 1 of the2012 Amended Law on Personal Income vtv5 trực tiếp bóng đá hôm nay, income from the transfer of real estate is taxable income for personal income vtv5 trực tiếp bóng đá hôm nay purposes.

- Value Added vtv5 trực tiếp bóng đá hôm nay

According to Point h, Clause 1, Article 7 of theLaw on Value Added vtv5 trực tiếp bóng đá hôm nay 2008, enterprises engaging in real estate business must pay value added vtv5 trực tiếp bóng đá hôm nay except for the transfer of land use rights.

What taxes are applicable to incomes from real estate transfer in Vietnam in 2024?Image from the Internet

What are the vtv5 trực tiếp bóng đá hôm nay rates for incomes from real estate transfer in Vietnam in 2024?

Corporate Income vtv5 trực tiếp bóng đá hôm nay (CIT)

Based on Article 10 of theLaw on Corporate Income vtv5 trực tiếp bóng đá hôm nay 2008, amended and supplemented by Clause 6, Article 1 of the Amended Law on Corporate Income vtv5 trực tiếp bóng đá hôm nay 2013, the specific provisions are as follows:

- The corporate income vtv5 trực tiếp bóng đá hôm nay rate is 22%, except for cases specified in Clauses 2 and 3 of Article 10 and special vtv5 trực tiếp bóng đá hôm nay incentives as stated in Article 13 of theLaw on Corporate Income vtv5 trực tiếp bóng đá hôm nay 2008.

- Cases subject to the 22% vtv5 trực tiếp bóng đá hôm nay rate will switch to a 20% vtv5 trực tiếp bóng đá hôm nay rate starting January 1, 2016.

- Enterprises with a total annual revenue not exceeding twenty billion VND are subject to a 20% vtv5 trực tiếp bóng đá hôm nay rate.

- The corporate income vtv5 trực tiếp bóng đá hôm nay rate for activities involving exploration and exploitation of oil, gas, and other precious resources in Vietnam ranges from 32% to 50%, depending on each project and business establishment.

CIT Calculation Formula

Personal Income vtv5 trực tiếp bóng đá hôm nay (PIT)

According to Article 23 of theLaw on Personal Income vtv5 trực tiếp bóng đá hôm nay 2008, amended and supplemented by the2014 Amended vtv5 trực tiếp bóng đá hôm nay Laws, the specific provisions are as follows:

- Personal income vtv5 trực tiếp bóng đá hôm nay on the transfer of real estate is 2% on taxable income from the transfer.

- In cases where the purchase price or related costs cannot be determined, taxable income will be based on the transfer price.

Value Added vtv5 trực tiếp bóng đá hôm nay (VAT)

- The VAT applicable for real estate transfer is 10% as per Article 11 ofCircular 219/2013/TT-BTC.

What are the penalties for late vtv5 trực tiếp bóng đá hôm nay payment or failure to pay vtv5 trực tiếp bóng đá hôm nay in Vietnam?

According to Article 13 ofDecree 125/2020/ND-CPregulating penalties for violations regarding the timely submission of vtv5 trực tiếp bóng đá hôm nay declarations:

- A warning is issued for vtv5 trực tiếp bóng đá hôm nay declarations submitted 1 to 5 days late with mitigating circumstances.

- A fine from 2,000,000 VND to 5,000,000 VND for vtv5 trực tiếp bóng đá hôm nay declarations submitted 1 to 30 days late, except as specified in Clause 1 of this Article.

- A fine from 5,000,000 VND to 8,000,000 VND for vtv5 trực tiếp bóng đá hôm nay declarations submitted 31 to 60 days late.

- A fine from 8,000,000 VND to 15,000,000 VND for:

+ Submitting vtv5 trực tiếp bóng đá hôm nay declarations 61 to 90 days late;

+ Submitting vtv5 trực tiếp bóng đá hôm nay declarations over 91 days late without vtv5 trực tiếp bóng đá hôm nay payable;

+ Not submitting vtv5 trực tiếp bóng đá hôm nay declarations without vtv5 trực tiếp bóng đá hôm nay payable;

+ Failing to submit appendices for management of enterprises with associated transactions along with corporate income vtv5 trực tiếp bóng đá hôm nay finalization reports.

- A fine from 15,000,000 VND to 25,000,000 VND for vtv5 trực tiếp bóng đá hôm nay declarations submitted over 90 days late, where vtv5 trực tiếp bóng đá hôm nay is payable, and the taxpayer has fully paid the vtv5 trực tiếp bóng đá hôm nay and late payment fees before the vtv5 trực tiếp bóng đá hôm nay authority announces the decision to inspect or audit taxes, or before the vtv5 trực tiếp bóng đá hôm nay authority issues a report on late vtv5 trực tiếp bóng đá hôm nay declaration submission as prescribed in Clause 11, Article 143 of the Law on vtv5 trực tiếp bóng đá hôm nay Administration.

Note:The above penalties apply to organizations. Penalties for individuals are half that of individuals.

Where to submit vtv5 trực tiếp bóng đá hôm nay declarations in Vietnam?

According to Article 45 of theLaw on vtv5 trực tiếp bóng đá hôm nay Administration 2019, the specific provisions on locations for submitting vtv5 trực tiếp bóng đá hôm nay declarations are as follows:

- Taxpayers submit vtv5 trực tiếp bóng đá hôm nay declarations at the vtv5 trực tiếp bóng đá hôm nay authority that manages them directly.

- When submitting vtv5 trực tiếp bóng đá hôm nay declarations through a one-stop-shop mechanism, the location follows the regulations of that mechanism.

- The location for submitting declarations for exported and imported goods follows the Customs Law.

- the Government of Vietnam stipulates the locations for submitting declarations in the following cases:

+ Taxpayers have multiple production, business activities;

+ Taxpayers conduct business in multiple locations; taxpayers have obligations for taxes declared and paid per occurrence;

+ Taxpayers have obligations for taxes from land, rights to exploit water resources, mineral resources;

+ Taxpayers have obligations for personal income vtv5 trực tiếp bóng đá hôm nay finalization;

+ Taxpayers file taxes through electronic transactions and other necessary cases.