Ministry of Finance proposes investigation of real estate transfer tax evasion

The Ministry of Finance has just issued an official letter to propose the Ministry of Public Security, the Ministry of Justice and the People's Committees of provinces and cities to direct the investigations of real estate transfer tax evasion, aiming to deter tax fraudsters and prevent tax loss.
Particularly, the Ministry of Finance proposed the Ministry of Public Security to direct the local police along with the Tax Department to investigate and handle business activities and real estate transfer tax evasion, thereby collect tax arrears for State budget meanwhile the Ministry of Justice and the People's Committees of localities were required to direct the Department of Justice in coordination with Department of Taxation about guiding declaration of the notarial purchase contract following the actual purchase prices for tax calculation in accordance with the law, avoiding loss of State budget revenue.

The General Department of Taxation is responsible for directing local tax departments to coordinate with the Department of Public Security and the Department of Justice to effectively fight and handle violations of tax evasion in business and real estate transfer.

The above-mentioned proposals are from the frauds of declaring real estate transfer prices lower than the actual selling price of investors.

By Quang Minh–Translated by Huyen Huong

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