People who own a house will not have to pay tax for the second house they buy in 2017 (Photo: sohoa.vn)
Hanoi (VNA) - The finance ministry has announced that people who own a house will not have topay tax for the second house they buy in 2017.
NguyenVan Phung, deputy director of the ministry’s tax policy department, said theissue is still on the table for discussion and while it has been a long-pendingproposal, it will not happen this year. The idea of taxing multi-house ownersis a matter of concern for many Vietnamese citizens.
The regulations on how to tax and when to tax have not been clearly defined andit will take time to do it, Phung said, adding that currently there is nonational synchronised information system for land and house registrationrecords. So taxing multi-house owners is impossible at present, he said.
Many experts believe imposing tax on the purchase of second homes would helpreduce speculation, and property prices would drop as a result, though theywarn that tax regulations must be fair for the buyers. Developers would then beforced to improve their products to meet market demands.-VNA
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People who own a house will not have to pay tax for the second house they buy in 2017 (Photo: sohoa.vn) 
