Chương 3 Nghị định 124/2008/NĐ-CP: Thu nhập từ chuyển nhượng bất động sản

Chapter III

INCOMES FROM REAL ESTATE TRANSFER

Article 13.- Incomes from real estate transfer include income from the transfer of land use or lease rights; income from sublease of land of real estate-trading enterprises under the land law, regardless of whether infrastructure or architectural works attached to land are available or not.

Article 14.- Taxable income from real estate transfer is turnover from real estate transfer activities minus the cost of real estate and deductible expenses related to real estate transfer.

1. Turnover used for calculating taxable income shall be determined based on the real price of each transfer.

If the price of a transfer of land use rights is lower than the land price set by the provincial-level Peoples Committee, the price set by the provincial-level Peoples Committee at the time of real estate transfer will be applied.

2. The time of determining turnover used for calculating taxable income is the time of handover of real estate.

If money is advanced according to schedule, the time of determining turnover used for calculating the enterprise income tax amount to be temporarily paid is the time of money collection. The Ministry of Finance shall guide the temporary tax payment referred to this Clause.

3. Deductible expenses for real estate transfer:

a/ The cost of transferred land, to be determined according to the origin of land use rights, specifically:

- For land allocated by the State with collection of land use levy or land rental, its cost is the land use levy or lease rental actually remitted into the state budget;

- For land transferred from other organizations or individuals, its cost is based on contracts and lawful payment documents upon the receipt of land use or lease rights; if contracts and lawful payment documents are unavailable, such cost shall be calculated based on the price set by the provincial-level Peoples Committee at the time the enterprise receives real estate transferred;

- For land contributed as capital, its cost is the price agreed upon capital contribution;

- For inherited or donated land with unidentifiable cost, such cost shall be determined based on the land price set by the provincial-level Peoples Committee at the time of inheritance or donation.

For land inherited or donated before 1994, its cost shall be determined based on the land prices set in 1994 by the provincial-level Peoples Committee on the basis of the Table of land price brackets in the Governments Decree No. 87/CP of August 17, 1994.

b/ Expense for compensations and supports upon land recovery by the State;

c/ Charges and fees related to the grant of land use rights under law;

d/ Expense for soil improvement or ground leveling;

dd/ Value of infrastructure or architectural works on land;

e/ Other expenses related to transferred real estate.