Basis of Assessment IN PARTICULAR Taxable Price minus actual (or land rent) at the date of price of land transfer or of People’s Committee in case of standard 5. improper declaration See Example 1 – a. construction of infra-structure and houses for In case of with payments in accordance with a progress billing sales real For schedule: the basis for allocation of deductible land price will estate be the actual of the first payment See Example 2 – business activities: construction on leased land for In case of lease b. exclusive of VAT (-) minus payable to the price Land rent State (-) See Example 3 –
Basis of Assessment Taxable Price IN PARTICULAR 5. For real estate business activities: (-) minus actual price of land (or land rent) at the date of transfer or standard of People’s Committee in case of improper declaration – See Example 1 a. In case of construction of infra-structure and houses for sales with payments in accordance with a progress billing schedule: the basis for allocation of deductible land price will be the actual of the first payment – See Example 2 b. In case of construction on leased land for lease price exclusive of VAT (-) minus Land rent payable to the State – See Example 3
1012_VS-VAT%20Slides%20(Trainer).docx