Personal Income Tax Levied on Real Estate Business in Vietnam: Reality and Some Recommendation
DOI:
https://doi.org/10.55908/sdgs.v11i11.1489Keywords:
tax, personal income tax (PIT), real estate, PIT on real estate trading, VietnamAbstract
Objective: The provisions of Personal income tax (PIT) on real estate are still inadequate and incompatible with the practice of economic and social development in Vietnam. Due to that fact, this scientific article researches the status quo of provisions of PIT levied on real estate to come up with some recommendations to perfect the law.
Theoretical framework: Recent literature points out that PIT on real estate plays very important role in the development of Vietnam's economy, and society. However, in the current stage of development, from the influence and impact of international integration, in reality, the provisions of PIT on real estate are still inadequate. In there, limits and problems in regulations about PIT on real estate have caused many difficulties when applied. On the other hand, in the context of judicial reform in Vietnam, the issue of complete law system has always been paid special attention by the Party and Vietnam State.
Method: The authors have used a combination of traditional research methods of the social sciences and legal sciences such as legal analysis method, the legal efficiency evaluation method, and comparative legal method to achieve the objectives of the research.
Results: Research results have determined that the provisions of PIT on real estate are still inadequate, and affect the state budget, and the economy, society in Vietnam.
Conclusion: PIT on real estate is an important source of revenue for the state budget. At the same time, this is a tax that has great impact and influence on economic and social development and taxpayers. However, current regulations on PIT on real estate still have some shortcomings, limitations, and are not consistent with the practical situation of real estate transfer transactions in Vietnam.
Research implications: The results of the research contribute to proposing a number of solutions to improve the law on PIT on real estate in Vietnam.
Originality/value: The research of the PIT on real estate become more and more urgent and very important in Vietnam.
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