A very long research

- The draft Personal Income Tax Law is currently being widely reviewed by the Ministry of Finance. Notably, it includes provisions for short-term real estate transactions that will be subject to higher taxes.

- The 20% tax on income is significant. Imposing a high tax on real estate transfers with ownership periods of less than two years would curb speculation. When more than half of market participants are looking to "flip" properties for profit, prices become unaffordable for the majority. Reduced speculation would make real estate prices more accessible.

- Are you sure about that? When the new content of the draft tax law was released, many experts immediately argued that the tax increase would drive up real estate prices. This is because, conventionally, sellers often include all incurred costs in the selling price. Taxes are also a cost, so if the selling price is higher, the buyer will bear the full burden. They asserted that this would also make our country's real estate market less attractive compared to other countries in the region.

- Having diverse opinions is always necessary for careful consideration. However, expert opinions are only trustworthy when they are objective. In reality, there's no guarantee that the expert isn't affiliated with the property owner.

- The reaction of financially strong real estate investors is what's noteworthy. They remain calm, because, based on experience, taxes on real estate always take a very long time to study!

TU QUEO

Source: https://www.sggp.org.vn/nghien-cuu-rat-lau-post805146.html