What are the Taxes Involved in the New Vietnam Foreign Property Ownership?

The following taxes are applicable to property sales transactions:

Value Added Tax (VAT):
10% VAT is taxed on any sale of property by local or foreigners.

Registration Tax for Ownership:
0.5% registration tax for obtaining the house ownership certificate on the apartment value.

Personal Income Tax (For Resale):
If personal income is earned through the assignment or resale of apartments or houses, a 2% personal income tax has to be paid on the transacted value.

Personal Income Tax (for Rental Income)
If personal income is earned through rental of house/apartment, 5% VAT and 5% PIT has to be paid on revenue.

For rental income exceeding VND 1,500,000 per month, a business license tax of VND 1,000,000 (approx US$45) per year applies.

Administration Fee:
A minimal administration fee is to be granted an ownership certificate at the current regulation.