On March 30th, 2020, Hanoi Tax Department issued Official Letter No.15991/CT-TTHT. Whereby:
In case the company executes a real estate transfer process (including land use rights and land-attached assets) and this real estate was transferred from an individual to the company, but there was no sufficient basis to determine the land value at that time of transfer, the deductible land price for VAT calculation shall be determined by the people’s committee of the province, central-affiliated city at the time of transfer assignment.
