The Government is considering a proposal to reduce tax on the transfer of the rights to use construction land to 2% from the current 4% before submitting it to the National Assembly for adoption.
This reduction, according to the Ministry of Finance, is necessary to encourage people to register their land use rights transactions and pay tax.
At present, organizations, families and individuals that transfer land use rights are obliged to pay land use rights transfer tax at the rate of 2% for agricultural, forestry, aquacultural and salt-making land and 4% for construction land and other categories of land. They are also subject to income tax at the rate of 28% and additional income tax rate of 10-25%.-