A foreigner is responsible to directly declare and pay tax at the district tax bureau where the property is located. A third party may be legally authorized to act on their behalf.
Value added tax (VAT): 10% VAT is applied on any property sale whether local or foreigner.
- Administration fees: A minor fee is payable for property ownership certificate issuance.
- Ownership registration tax: 0.5% registration tax against property value to obtain the ownership ‘pink book’ certificate.
- Maintenance fee/sinking fund: Maintenance fees are referred to as a ‘sinking fund’ and are contributed to by development unit buyers. Fees are for major building and common area servicing to maintain development quality standards.Current sinking fund fees are 2% of the house/apartment price, before VAT.
Personal income earned through assignment or apartment/houses resale requires 2% personal income tax paid on the transacted value.
Personal income earned through house/apartment rental requires 5% VAT and 5% PIT on revenue be paid. For rental income exceeding VND 100 million, a business license tax of VND 1,000,000 per year applies.
Personal income tax: Personal income earned through house/apartment rental requires 5% VAT and 5% PIT on revenue be paid. For rental income exceeding VND 100 million, a business license tax of VND 1,000,000 per year applies.
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Hotline: 0931 999 268