Tax man strictly manages real estate trading and transfer

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The General Department of Taxation suggests that tax units continue to effectively implement measures to prevent revenue loss in real estate business and transfer. Photo: Thu Hien.

The country’s top tax agency said the tax sector has developed solutions to prevent loss of revenue in real estate business and transfer.

Following the guidance of the Ministry of Finance on the prevention of tax loss in real estate transfer, the General Department of Taxation has proposed local tax departments advise the People's Committees of provinces and centrally-run cities to request the Department of Natural Resources and Environment and relevant agencies to realize proposals of the Ministry of Finance.

The tax unit must provide the database which taxpayers have declared in case there is a price fluctuation higher than the one issued by the People's Committee (including land price adjustment coefficient) for the Natural Resources and Environment Agency.

The tax departments must ask units in charge of handling real estate transfer documents to strictly comply with the regulations on the order and procedures for handling documents to determine the financial obligations of taxpayers according to the provisions of the Regulation on contacting citizens at tax authorities at all levels and the process of receiving and handling administrative procedures of taxpayers according to the single window mechanism.

Furthermore, the tax unit must have a mechanism to monitor performance of tax officers in order to avoid harassment and causing difficulties for taxpayers; provide information and guide the declaration of real estate transfer prices for taxpayers.

The General Department of Taxation has also assigned the Department of Internal Audit; Settlement of complaints, denunciations and anti-corruption to direct the development of internal inspection contents, programs and plans or unexpected inspections; inspect the integrity of tax officers in the fight against tax loss for real estate transfer activities, ensuring the transparency and integrity of the tax industry.

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The General Department of Taxation has required tax units to effectively implement measures to prevent revenue loss in real estate business and transfer, develop solutions or propose competent state agencies issue solutions for tax evasion in real estate transfer and business activities in accordance with the law.