Vietnam’s government is considering taxing land and buildings separately as at current, there is no tax on buildings.
According to VN Express, the proposal was drafted and will be presented to the National Assembly in October 2024.
In addition, the government suggested that the current land tax might be increased, though the amount was not revealed.
When comparing Vietnam’s property tax to other countries, it remains quite low.
In some countries such as Denmark, Indonesia, Japan, the Philippines, and in some U.S. states, the taxable value of a building is its cost of construction.