14 September 2021
Hanoi Tax Department issued Official Letter No. 32078/CTHN-TTHT dated 19 August 2021 on VAT calculation price for property rental activities with the following contents:
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Regarding the activities of asset rental such as housing, offices, workshops, warehouses, yards, vehicles, machinery, equipment, the taxable price is the rental amount excluding VAT.
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In case of rental in the form of installment payment or prepayment of rent for a lease term, the taxable price is the rental paid in installments or in advance for the lease term excluding VAT.
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The rental price of the property agreed upon by the parties is determined according to the contract. If the law regulates the rental price bracket, the rental price must be charged within that bracket.
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When the company adjusts the rental price of the commercial center space agreed by the lessee and the lessor according to the contract, the VAT calculation price of the above-mentioned leasing activities is the tax-exclusive rental amount.
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