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ARTICLE · 21 APRIL 2013

Vietnamese Government to Boost Real Estate Sector

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In its resolution for action to be taken in 2013 ("Resolution"), the Vietnamese government has initiated, among other things, solutions to reduce difficulties faced by the real estate sector.

VietnamReal Estate and Construction
Quynh-Anh Lam
Quynh-Anh Lam
Nguyet Thi Nguyen
Nguyet Thi Nguyen
Thao Nguyen
Thao Nguyen
Author LinkedIn connections

Keywords: real estate, taxes, land rental, land use, CIT

In its resolution for action to be taken in 2013 ("Resolution"), the Vietnamese government has initiated, among other things, solutions to reduce difficulties faced by the real estate sector. These solutions include incentives relating to taxes, payment of land rental and land use fees, financial support, project approvals and residential housing ownership for foreigners.

Taxes

Under the Resolution, the Ministry of Finance will present to the National Assembly for approving the following tax incentives: From 1 July 2013, the rate of company income tax ("CIT") applied to enterprises investing in social residential projects will be 10 percent. Those enterprises will also be entitled to a reduction of 50 percent of input VAT for the period 1 July 2013 to 30 June 2014. For the same period, enterprises investing in low income residential projects (i.e., constructing apartments with an area of up to 70m2 and a

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