Personal Income Tax Law reveals impractical provisions on real estate transfer
The personal income tax (PIT) is a type of tax that people involved in a purchase of real estate must pay to the State once that real estate is transferred. The 2007 Law on PIT[1] and its guiding documents are regarded as effective tools regulating the incomes of taxpayers involved in these transactions, but there is evidence of certain shortcomings. [1] Law No.04/2007/QH12 on Personal Income Tax dated November 21, 2007.