Uni 01-07-2013 – Guidance of amendment and addition to Law on CIT, VAT

According to the official letter No. 8336/BTC-CST:

a) 5% VAT rate is applied to contracts of selling, renting and rent-purchasing of social housing under regulations of Law on Housing from 01 July 2013.

b) 50% VAT reduction from 01 July 2013 to 30 June 2014 for selling, renting, rent-purchasing of commercial housing  which are the completed apartments with the floor area less than 70 m2 and with the price of less than 15 million VND/m2.

c) From 01 July 2013, 20% CIT rate is applied to enterprises including cooperative with total revenue less than or equal to 20 billion VND. The revenue applied to 20 % CIT rate is the total revenue of the previous year.

20% tax rate is not applied to income from capital transfer; real estate transfer; exploitation of petroleum, mines and special-consumption-tax liable services.

d) 10% CIT rate is applied to the incomes from selling, renting, rent-purchasing of commercial housing arising from 1 July 2013.