The Ministry of Finance (MoF)’s proposal to tax second and additional homes to restrict property speculation and oversupply would face challenges. — Photo enternews.vnHÀ NỘI — The Ministry of Finance (MoF)’s proposal to tax second and additional homes to restrict property speculation and oversupply would face challenges, experts have said. First, imposing a single tax rate of 0.03 per cent on houses with taxable value of VNĐ500 million and higher. Second, taxing houses based on their area, and third, zero per cent tax on houses valued at up to VNĐ500 million, and 0.03 per cent tax on the rest. The Government should have solutions to ensure low-income earners have houses before thinking about taxing second homes,” he said.

Source: Viet Nam News August 19, 2017 02:15 UTC