The Ministry of Finance has just issued Official Letter No. 14257/BTC-VP dated December 15, 2021, to the People's Committees of the provinces and centrally-run cities; General Department of Taxation on combating tax loss in business activities and real estate transfer.
The official letter stated: To prevent loss of tax revenue in business activities, real estate transfer; guide people and businesses to declare the correct real estate transfer prices, improve management efficiency, and ensure state budget revenues. The Ministry of Finance recommends:
1. The People's Committees of provinces and cities shall guide agencies to:
Coordinate, exchange and provide information to tax authorities to closely manage taxes on business activities and real estate transfers of people and businesses.
Request notarized practicing organizations and relevant state agencies to guide people, investors of real estate projects, real estate business enterprises, and transfers declared on notarized contracts at the actual purchase and sale prices, to act as tax bases following the law. Cases of transfer of real estate prices declared on contracts lower than the actual transfer price are violations of tax law, which will be handled following the law.
Regularly propagandize people and businesses to honestly declare real estate transfer prices on sale and purchase contracts.
2. General Department of Taxation:
To step up the propaganda and dissemination of legal policies, especially the provisions on tax evasion and handling of violations of tax evasion in the criminal law; Tax policies related to business activities, real estate transfer for people and businesses to know to implement.
Strengthen tax administration for business activities, real estate transfer of people and businesses. Directly handle strictly tax evasion acts.
Direct the Tax Departments to coordinate with local competent authorities in tax administration for business activities, real estate transfer to prevent tax loss.
Collected from source
GH
