The official letter No. 8336/BTC-CST dated 28 June 2013 of MOF in guidance of amendment and addition to Law on CIT, VAT (effective from 01 July 2013)
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.
