UNIVERSITY OF TAMPERE

School of Management

MASTER PROGRAMME OF PUBLIC POLICY

AND FINANCIAL MANAGEMENT

Compare ideas of income taxes with real estate taxes and value added tax and
evaluate their strengths and weaknesses in principle. Provide illustrative
examples how Vietnamese central government and city governments apply
these taxes and how revenues of these taxes have developed during the recent
years. It would be a benefit, if you could provide information what kinds of
problems there have been to collect these taxes and what kinds of tax fraud
there have existed.

Student 1: Nguyen Thi Kim Thanh

Date of birth: 26th November 1976
Email: kimthanhbhxh@yahoo.com.vn
Student 2: Pham Quynh Lien
Date of birth: 6th November 1991
Email: quynhliennapa@gmail.com
Course: Strategic public finance and innovation in public finance
Instructor: Dr Pekka Valkama
Date: December 27, 2015

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CONTENTS
Abbreviations.....................................................................................................................3
1

Introduction..................................................................................................................4

A Definition of Tax......................................................................................................5
2.1

Tax.........................................................................................................................5

2.2

Tax revenues..........................................................................................................5

2.3

Tax classification...................................................................................................5

Comparing ideas of income taxes with real estate taxes and value added tax.............5

Evaluation of strengths and weaknesses of income taxes with real estate taxes and

value added tax in principle...............................................................................................9

4.1

Income taxes..........................................................................................................9

4.2

Real estate taxes.....................................................................................................9

4.3

Value added tax....................................................................................................10

Illustrative examples of how Vietnamese central government and city governments

apply these taxes and how revenues of these taxes have developed during the recent
years..................................................................................................................................11
6

Problems to collect these taxes and kinds of tax fraud..............................................15

6.1

Some issues during collection of those taxes in question....................................15

6.2

Some forms of tax evasion and tax frauds...........................................................17

Conclusions................................................................................................................18

References........................................................................................................................19

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ABBREVIATIONS

OECD

Organisation for Economic Co-operation and Development

FAD

Fiscal Affairs Department

WB

World Bank

PwC Vietnam

PricewaterhouseCoopers (Vietnam) Limited company

Vietnam Report

Vietnam Assessment Report JSC

WTO

World Trade Organization

VAT

Value Added Tax

CIT

Corporate Income Tax

PIT

Personal Income Tax

RET

Real estate tax (or Property Tax)

NRT

Natural Resources Tax

GDP

Gross Domestic Product

ALT

Agricultural Land-Use Tax

NLT

Non-agricultural Land-Use Tax

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1 Introduction
Tax in Vietnam, like in many other countries, is obligatory to form the major revenue of the
state budget. A national tax system comprises various kinds of tax such as Personal Income Tax (PIT),
Value-Added Tax (VAT), Land-Use Tax, etc. Each of which in turn has its own characteristics and
functions. Taxes will be grouped according to certain criteria to be the category of income taxes, the
category of consumer taxes, or the group of Real Estate taxes (RET), etc. Such grouping facilitates lawmakers and government officers in building and perfecting tax laws to make sure that taxes form an
important tool for the state to carry out social justice and to regulate macroeconomically, while making
sure that related people exercise their tax obligations and rights well. Apart from having positive
achievements, Vietnam has been facing over the past years various difficulties and challenges in
taxation and tax management, especially tax frauds, tax evasion and tax debts having influenced
achievement of the countrys socio-economic development goals.
This essay will, based on some basic theories and practical examples, tackle the issues raised by
the topic: a definition of tax, ideas of income taxes with real estate taxes and value added tax, and
evaluation of their strengths and weaknesses in principle. Writers will also provide some illustrative
examples of how the central government and city governments in Vietnam have applies those taxes and
how revenues of these taxes have developed during the recent years. The essay also addresses the kinds
of problems there have been to collect these taxes and what kinds of tax fraud there have existed. It will
focus mainly on the PIT, the Corporate Income Tax (CIT), the land-use taxes, and the VAT.

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2 A Definition of Tax
2.1 Tax
There are various definitions of tax in the world. The Organisation for Economic Co-operation
and Development (OECD) defines: Taxes are compulsory, unrequited payments to general
government. They are unrequited in the sense that benefits provided by government to taxpayers are
not normally in proportion to their payments. The OECD methodology classifies a tax according to its
base: income, profits and capital gains; payroll; property; goods and services; and other taxes.
Compulsory social security contributions paid to general government are also treated as taxes, and are
classified under a separate heading. (OECD, 2015)
2.2 Tax revenues
The most important aim of tax revenues is to satisfy financial needs of the public sector.
Usually only the public sector authorities have powers to levy and collect taxes.
Sometimes compulsory social security contributions paid to general government are also
considered as taxes. (Pekka Valkama, 2015, p. 3)
2.3 Tax classification
There are different classifying criteria depending on specific research purposes. Based on the
states regulation, taxes are classified into the following:
- Direct tax is paid directly by the tax payer. Examples of this kind include income taxes and
real estate taxes.
- Indirect tax is paid by the tax payer through suppliers and importers. Its examples are import
tax, export tax, and consumption taxes.

3 Comparing ideas of income taxes with real estate taxes and value added tax
As mentioned above, tax grouping are based on certain similarities. To facilitate for the
comparison, the essay will, based on the most basic elements, find out typical differences between
income taxes, real estate taxes v value added tax applicable in Vietnam now.

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Income taxes
Real estate taxes
Value added tax
Collection of an income tax is Real estate tax is levied Value added taxes are indirect
based on the income of an annually on the basis of the and imposed on goods and
individual or a business (an value of real property. It is services for their added values
enterprise or corporation). It is a paid to the municipality in arisen from production, business,
direct tax on the tax payers which the property is located. import and circulation until the
profit

and

income.

(Nguyen It applies to both buildings end-user. (Nguyen Minh Hang et

Minh Hang et al, 2011, p. 188)

and land separately. (Pekka al, 2011, p. 154)

Valkama, 2015, p. 54)

In Vietnam, there are two kind of In Vietnam, real estate taxes In Vietnam, value added tax are
income taxes imposed through are direct taxes and comprises indirect and grouped in the
their respective laws of the same two kinds applicable through consumption
name:

tax

group1,

their respective laws of the applicable through the 2008 Law

same name:

- The 2007 Law on Personal -

The

on Value Added Tax, which was

1993

Income Tax; amended in 2012 Agricultural

Law

on amended in 2013 (hereinafter

Land-Use

Tax refered to as the Law on Value

(hereinafter refered to as the Law (hereinafter ALT Law).

Added Tax or the VAT Law).

on Personal Income Tax or the - The 2010 Law on NonPIT Law);

Agricultural

Land-Use

Tax

- The 2008 Law on Corporate (NLT Law) (including upon

Income Tax, amended in 2013 houses on land).
(hereinafter refered to as the Law
on Corporate Income Tax).
Tax objects:

Tax objects:

Tax objects:

- Income of residents applicable - Urban and rural residential Goods and services consumed
to

tax

collection

arisen

in land;

and arisen during the process

Vietnam and overseas (regardless - Land for non-agricultural from

of place of income payment) and production and business;
that

of non-residents

having -

Agricultural

land

production,

commerce,

import, circulation in the market

for and

consumed

in

Vietnam.

The current consumption tax group in Vietnam includes the value added tax, the exise tax, the import tax, and the export
tax.

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income

applicable

to

tax cultivating, aquaculture, and Importers or consumers have to

collection arisen in Vietnam;

forestation.

pay for those goods and services.

- Profit and income in Vietnam

and

overseas

arisen

from

activities of production, business

of goods and services and other
incomes of organizations and
businesses.
There are 34 groups of tax object
applicable to tax deduction and 32 groups of tax objects 25

groups

of

tax

objects

tax exemption; many other cases exempted or deducted from exempted from these tax; many
are subject to taxrate priotised.

these taxes.

other groups are tax-deductible

Tax payers:

or tax-refundable.

Income taxes are paid directly by Tax payers include:

Tax payers:

the individual, organization or - The individual, organization The individual or organization

business subject to taxation.

or household entitled to land which produces, does business in

use right or using kinds of and imports goods and services
land as tax objects;

as tax objects.

- Those hiring government

land to implement investment
projects;
- Those given the land use
right by the state and subject
to tax payment regardless of
Tax base:

use.

Based on income subject to Tax base:

Tax base:

taxation and respective tax rates, - For non-agricultural land:

* The price subject to taxation is

where:

* The price subject to taxation that without value added tax for

- For personal income tax:

is based on the number of sale, import, processing, and

* Income subject to tax is that square metres of land subject leasing; applicable to each group
from business activities; salary to taxation;

of goods and services, including

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and wage; capital investment; * There are four tax rates: fees
capital
transfer;

transfer;

real

prize

and

surcharge

of

estate 0.03%; 0.07%; 0.15%; and businesses).

winning; 0.2%;

* There are three tax rates: 0%,

copyright; commercial franchise; - For agricultural land: based 5% v 10%.

and, inheritance or gifts.

on the land area, grade, and

* The 10 tax rates are partially or tax rate in kilogram(s) of rice

wholly progressive: 0.1%; 0.5%; per

area

unit

for

each

2%; 5%; 10%; 15%; 20%; 25%; stipulated land grade.

30%; and 35%.
- For corporate income tax:
* Income subject to tax is that
from activities of production and
commerce of goods and services
and other incomes given by the
law.
* The eight tax rates are 10%;
15%; 17%; 20%; 22%; 32%;
40% and 50%).
Method of tax calculation: The
tax payable is a multiplication of Method of tax calculation:

Methods

of

tax

calculation

the income subject to tax by its + For non-agricultural land, include deduction of value added
respective tax rate.

the

tax

payable

is

a taxes and direct calculation on

multiplication of the price added values.

subject

to

tax

and

the

respective tax rate;

+ For agricultural land, the tax
payable is a multiplication of
the land area subject to tax and
the respective tax rate.

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4 Evaluation of strengths and weaknesses of income taxes with real estate taxes and
value added tax in principle
4.1 Income taxes
Strengths:
Income taxes form a major revenue within the tax system for the state budget. It is also a tool
for the states income redistribution function and guaranty of social justice between social classes
through tax rate adjustment, tax exemption, tax deduction, etc.;
They encourage and motivate quick development of production and business activities through
tax rate priorities, tax exemption period for corporations, or application of the partially progressive PIT
table;
Income taxes provide the state with a basis for correctly identifying its goals, based on which to
develop and implement effectively sustainable national economic programmes, plans, and policies.
They also help the latter prevent, make timely discovery of and give serious punishment on acts of
corruption, bribery or other illegal incomes.
Weaknesses:
Because the tax objects are incomes and profits, which are always greatly influenced by
economic development, they are not highly stable;
This kind of tax is very complicated in declaration, tax identification and calculation, check of
incomes, investigation of sources and income-arisen places, check of residence periods and degrees of
stable incomes of tax payers, etc.;
It is difficult to distinguish residents from non-residents, so there is an easy overlap of
management and identification of tax payers;
Tax management, collection and payments take much time and effort.
4.2. Real estate taxes
Strengths:
It is difficult to evade these taxes and easy to calculate and collect them because tax objects are
tangible and relatively fixed assets;
They form an important and relatively stable budget revenue of local governments because the
properties are stable and difficult to move and it is regulated that a property owner shall pay to the local
government;

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The taxes provide social justice because tax calculation is based on the value of the property
owned or used by the tax payer;
Tax management is convenient and uncostly because respective tax collection and payment tend
to take place once or twice in a year, and because the property is highly stable.
Weaknesses:
When there is a big change or adjustment in the principles of tax calculation, collection or
payment, the central and local governments will be greatly influenced by tax payers because the
application scope of this tax is very large (i.e. all social classes);
Pricing of properties may easily cause negative issues that underestimate their values.
Additionally, loose management may lead to inequality during the tax calculation and collection
process;
The principle of property-based tax calculation may make it difficult, or even impossible, for
owners to pay the tax because one person may legally own many pieces of real estate but not possibly
make profit from them. This ends up in his or her prolonged tax debts and even inability to pay;
The principles of tax exemption or deduction may negatively influence the annual budget
revenue plan of local governments which are suffering from unexpected natural disasters, epidemics, or
issues of security, politics, economy and social affairs due to legal tax evasion.
4.3. Value added tax
Strengths:
Value added tax is the big and most stable state budget revenue because it is applicable to each
and every consumer upon his/her consumption of goods and services. It is also a tool for income
redistribution between consumers and the state;
The only three tax rates in Vietnam, of which 10% is the most popular, makes the tax
management more effective and limit tax frauds, and they makes it easy for consumers and tax payers
to calculate the tax payable;
The allegedly relatively low tax rates have encouraged production and business through
guaranty of payability of consumers and fairness between tax objects;
This tax results in no tax overlap because it is clearly expressed on a bill of sale or service
provision;
It helps tax payers, especially medium and small businesses, closely manage their bills thanks to
its principles of tax declaration, deduction of input tax and calculation of output tax;

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The principle of tax refund for the input value added taxes is considered a form of government
subsidy for exported goods, which increase the competitiveness of goods of domestic origins on the
international market.
Weaknesses:
The two methods of tax calculation result in injustice among tax payers, or even among
localities because the tax-calculating price varies. That is, the deduction method applies the price
without value added taxes while the direct method is in contrast;
Exact application of tax rates requires a clear assessment and classification of goods and
services. However, this is a very complicated step which may easily trigger negative reactions from
both consumers and taxpayers;
The Vietnamese tends to use cash in payment of goods and services. In addition, the limitations
in the regulations and management of accounting bills have been causing many difficulties in
identification of tax deduction and triggering many violations of the VAT law;
That too many objects are made exempted from VAT tax restrains an expension of tax objects
and reduce budget revenue. On the other hand, some alledgedly improper objects have limited exports
and caused difficulties in tax calculation, collection, and payment;
This tax takes much time and cost to implement, especially for communication, instruction and
explanation.

5 Illustrative examples of how Vietnamese central government and city

governments apply these taxes and how revenues of these taxes have developed
during the recent years
Unlike many other countries, Vietnam does not distinguish central taxes from local ones: the
National Assembly, its parliament, determines every kind of tax, tax rules, expenditure norms and
standards, and the local governments carry out the policies invariably throughout the country while the
national tax system is responsible for tax management and collection in line with the law. All tax
revenues are pooled into the state budget.
For the kinds of taxes in question, the 2002 Law on State Budget specifies either the central or
local government can enjoy 100% of the revenue of some taxes while there will be a proper regulative
ratio of enjoyment between the central and local governments for some other taxes. The ratio is based on
the criteria of revenue, expenditure tasks, population, local natural setting, and socio-economic
development, provided it ensure a budget balance and stability for that local government in five years.
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See Table 1 for a specific example about some provinces and cities in the delta (Hanoi and Bnh Dng)
and those on mountainous region (Thi Nguyn):
Central revenue ratio (%)
Hanoi
Bnh
Thi
Personal income tax
Corporate income tax (for sector-

58
100

Dng
60
100

based accounting businesses)

Corporate income tax (for other

58

60

businesses)
Tax on agricultural land
Tax on non-agricultural land
Value added taxes on imported goods

100

100

Value added taxes on other goods and

58

60

Local revenue ratio (%)

Hanoi
Bnh
Thi

Nguyn
42

Dng
40

Nguyn
100

42

40

100

100
100

100
100

100
100

42

40

100

100

100

services

Table 1: The regulative revenue ratios of some taxes between the central and local governments, period
2011-2015 in Vietnam.
(Source: Writers summarized from the provinces and cities resolutions and decisions)
The year 2010 marked Vietnams 20 years of vibrant economic reforms and active integration
into the world economy with its tax policy reform being considered one important step during its
transition to a market economy. The tax policy reform has changed the tax revenue remarkably from
previous tax imposition mainly on foreign trade activities and exploitation of crude oil to a greater levy
now on domestic taxes such as income and land-use taxes. In its socio-economic development plan for
2011-2015, the National Assembly expects the average budget revenue reaches 25.1% to 25.4% of
GDP per year, including no more than 22% to 23% GDP per year from tax and fee collection (from
2006 to 2010, that rate was 21% to 22% GDP per year). About 1.5 times bigger than that of period
2006-2010, the total revenue is expected to be 3,880 thousand billions VND. The average state revenue
increase is therefore estimated to be by 15.6%. (WB, 2011, p. 17)
Before the global financial crisis, Vietnams tax and fee rate over GDP remained high reaching
26.2% in 2007 in contrast with low ones from some other regional countries (Cambodia 9.7%,
Indonesia 12.4%, Laos 11.6%, Malaysia 14.3%, Philippines 13.5%, and, Thailand 16.1%). Yet the rate
is decreasing from 26.2% in 2007 to 21.4% in 2013, though still higher than the other regional
countries mentioned above (which remain between 10% and 16%). (Viet Bao, 2014). See Figure 1:

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Figure 1: The tax and fee rate of GDP of Vietnam and some regional countries,
period 2007-2013.
(Source: Viet Bao, 2014, Figure 3)
Due to some limitations of the essay, writers cannot go into deep analysis, but only through
some figures below to illustrate the development of revenues of some taxes mentioned above during
the recent years in Vietnam.
Considering the period of 2000-2011 (Vietnam currently has no summative evaluation report on
the implementation of the reform of tax policy for the period of 2011-2015), it is shown that VAT and
CIT (for both non-oil and oil) are the two tax revenues accounted for the largest proportion of GDP.
However, while revenues from VAT and CIT (non-oil) tends to increase, the revenues from CIT (oil) is
declining rapidly over time (especially since 2008). Besides, although the PIT and RET (or Property)
are proportionately extremely modest, but PIT shows an increasingly important position in the rate of
GDP growth in recent years (clearly expressed since 2007), see figures 2 and 3.

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Figure 2: Vietnam: composition of revenues, 2004-2010.

(Source: FAD, Tax reform in Vietnam issues for 2011-2015, p. 12)

Figure 3: The structure of tax revenue in Vietnam in the period of 2000-2011.

(Source: Vu Thanh Tu Anh, Tax reform in developing countries, Figure 5)

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Figure 4: Comparison of tax revenue share, Vietnam and Emerging Asia, 2010.
(Source: FAD, Tax reform in Vietnam issues for 2011-2015, p. 10)
If just only make assessment in 2010, figure 4 shows the percentage of tax/GDP of Vietnam is
much higher (2 times) compared to other countries in the region. Besides, when considering each type
of tax, specially mentioning on PIT, CIT, VAT and RET (or Property), Vietnam relies heavily on
revenues from CIT (approximately 27%/GDP) and VAT (about 29%/GDP), while PIT is approximately
5%/GDP and RET is only about 2%/GDP.
Through some figures above, it can be said that the tax revenue keeps an extremely important
position in the state budget revenue, although revenues from several taxes currently only account for a
very modest proportion of annual GDP, but the figures also shows the potential portion of them which
is more clearly in the future.

6 Problems to collect these taxes and kinds of tax fraud

6.1 Some issues during collection of those taxes in question
Legal regulations and delivery of tax services always remain one of the biggest problems for
most tax payers, especially corporate ones because of the cumbersomeness, complicatedness and
regular changes in the administrative procedures; lengthy and complex tax declaration; tax officers
attitude, etc. See Figure 7 for the results of investigation and assessment by Vietnam Report in 2014:
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Figure 7: Tax problems facing businesses in 2014

(Source: Thanh Hang, 2015, Figure 1)
Peoples conformity to the law remain so limited that there are many violations of tax
procedures, no declaration or incomplete declaration of information for identification of tax
obligations, delayed tax payments or tax debts, tax evasion or frauds, or disobeying of tax inspection
decisions, etc.
In addition, the tax collection management and organization remains so ineffective that tax
amounts payable, debts, deductions, exemptions are incorrectly identified. Land pricing is so
problematic that it results in lack of reliable information and negative issues. Added to that, the low tax
inspection quality limits discovery of increasingly sophisticated violations by tax payers.
The coordination between related services such as the state treasury, banks, the police, the court,
etc. is too loose with light punishments to prevent and settle completely violations of the tax laws,
especially in collection of debts and settlement of tax evasions and frauds.
The tax revenue structure has a potential risk of sustainability due to its much reliance on oil,
foreign trades and state businesses while its revenue from personal income tax and real estate tax
remain too low.

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Certain tax officers have improper attitudes or negative behaviours such as troubling tax payers,
lacking responsibility at work, abusing their powers and positions to hide violations of tax payers, or
illegally using tax money and fines, etc.
In addition, it is very costly to pay taxes in Vietnam. The WB Business Report ranked Vietnam
124th out of 183 surveyed countries in 2011 (WB, 2011, p. 83).

Index
Times of tax payment per year
Hours of tax payment per year
Income tax (%)
Taxes and contributions of workers (%)
Other taxes (%)
Overall tax rate (% profit)

Vietnam

Asia Pacific

OECD

32
941
12.5
20.3
0.3
33.1

24.5
218.2
18.3
10.3
6.8
35.4

14.2
199.3
16.8
23.3
3.0
43.0

Table 2: Tax-paying cost of Vietnam and other regions, 2011.

(Source: WB, 2011, Table 3.1)
6.2 Some forms of tax evasion and tax frauds
Taxpayers may not submit tax registration form; intentionally reduce the tax amout payable;
intentionally increase the amount refundable, deductible, or exempted; and, intentionally hide their
properties or real incomes. They may not issue bills upon sale of goods and services or provide
underestimated bills as the basis for lower tax declaration. In addition, they may cooperate with
foreigners to import goods different from their declaration to evade taxes or misuse tax-exempted or
tax-deductible goods.
Tax payers may conduct business during their declared business suspension periods, or establish
a business different from their declared business registration to buy and sell bills illegally.
Tax payers may not update or may intentionally hide some revenues in their accounting books.
They may not declare or declare dishonestly tax information; or, they change or even omit accounting
bills and books, or use illegal bills for tax declaration or for accounting of input goods to evade taxes.

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7 Conclusions
Though the comparison based on some basic tax theories in general and those on income taxes,
real estate taxes and value added tax in particular, the essay have found some strengths and weaknesses
of the three kinds of tax in question. The essay has provided some specific illustration for how Vietnam
has imposed those kinds of taxes and the recent development of revenue from those kinds of taxes. In
addition, it has pointed out the problems in tax management and organization of tax collection and
payment in Vietnam from all related sides that trigger violations of the tax laws, leakage of tax revenue,
tax evasions and frauds.
In summary, though the essays limited size allows us neither to go further into those issues nor
provide respective solutions for the tax management system in general and each kind of tax in
particular, we believe that perfection of tax policies and tax collection management system will
contribute to increased efficiency of tax collection, justice among tax payers, and increased sustainable
budget revenue for every country, including Vietnam. It therefore requires the whole tax system and all
tax payers to comply with the tax laws. The National Assembly, the Government, and the tax
management system from the central to grassroots level must accelerate their administrative procedure
reform, improve their professionalism at work, increase communication, anticorruption and punishment
of tax violations so that taxes can fully function as a government tool to achieve its social, economic,
and political development objectives vital to the country.

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