Tax accounting services for real estate companies in Vietnam

In recent years, the real estate business sector has developed strongly, with numerous companies established across the country. However, this type of business also faces many challenges during its operation and development, especially for small and medium-sized enterprises. Difficulties often arise in business management as well as in fulfilling tax obligations and carrying out professional accounting tasks. To overcome these challenges, many companies have opted to use tax accounting services for real estate companies in Vietnam. Viet An Law provides nationwide tax accounting services, particularly for enterprises in Hanoi and Ho Chi Minh City. For consultation and assistance with tax accounting services for real estate companies in Vietnam, please contact Viet An Tax Agent at 0961675566.

Tax accounting services for real estate companies in Vietnam

Specific tax accounting operations in the real estate sector

The real estate industry not only involves large transaction values but is also subject to various types of taxes with specific regulations, requiring in-depth knowledge and high expertise in handling tax accounting for real estate companies. Below are the specific tax accounting operations that real estate enterprises need to pay attention to:

Value Added Tax (VAT) Accounting

• Input and output VAT calculation: Since real estate transactions usually involve large values, accountants must calculate VAT from sales, transfers, or construction activities with full accuracy.
• VAT declaration and payment: Real estate enterprises must declare and pay VAT monthly or quarterly as prescribed, requiring careful data consolidation.
• VAT refund in construction projects: For large-scale projects, enterprises may be entitled to VAT refunds on investment expenses. This process requires accountants to prepare sufficient and valid documentation to meet tax authority requirements.

Corporate Income Tax (CIT) Accounting

• Determination of taxable revenue and deductible expenses: Real estate enterprises must accurately determine taxable revenue and legitimate deductible expenses to calculate CIT in compliance with legal regulations.
• CIT calculation: CIT is based on real estate business profits, and accountants must calculate the payable tax amount with a high level of accuracy.
• Annual CIT finalization: Preparing and submitting the annual CIT finalization report is an important step, requiring complete financial data and timely submission to avoid unnecessary penalties.

Personal Income Tax (PIT) Accounting

• PIT calculation from income sources: Income from salaries, brokerage commissions, and real estate transfers is subject to PIT. Accountants must calculate carefully to avoid errors.
• PIT declaration and payment: Enterprises are required to declare PIT monthly and ensure timely payment to avoid legal risks.
• PIT finalization: At year-end, accountants must finalize PIT for all employees and partners, ensuring full compliance with regulations.

Land Tax Accounting

• Calculation and declaration of land taxes: Real estate companies must calculate land use tax, land lease tax, or other taxes related to land use rights transfers, while ensuring accurate and timely declarations.
• Land tax obligations management: Land tax regulations have specific timelines and methods of payment, requiring accountants to monitor closely to prevent delays.

Other Taxes

• Registration tax: For real estate property transfer transactions, enterprises are required to pay registration tax in accordance with the law. This is a critical tax item requiring accurate calculation.
• Property tax: Certain types of real estate are subject to property tax, and accountants must ensure full and transparent compliance with these obligations.

The scope of work of comprehensive tax accounting services includes:

• Consulting and completing the accounting book system for enterprises, advising on how to keep accounting books and documents in accordance with current legal regulations;
• Providing overall consultation on preliminary knowledge for enterprises related to value-added tax, corporate income tax, and personal income tax;
• Advising on financial planning strategies, balancing reasonable expenses in the business activities of enterprises;
• Representing enterprises in working with and explaining to state authorities.

The working process of Viet An Law

Monthly and quarterly tasks

• Receive the company’s invoices and documents, and advise on the validity, legitimacy, and compliance of the arising documents;
• Complete vouchers and record arising transactions to balance VAT, PIT, inventory, and debts for the company;
• Declare and submit value-added tax reports;
• Declare and submit reports on the use of invoices;
• Declare and submit personal income tax reports (if PIT withholding arises during the period);
• Pay provisional corporate income tax.

Year-end tasks

• Prepare and submit financial statements and finalize personal income tax and corporate income tax;
• Print and complete the accounting books system as required for handover to the company.

Why Choose Luat Viet An’s Tax Accounting Services for Real Estate Businesses

Tax Accounting Services at Viet An Law Help Save Costs and Time

Tax accounting services at Viet An Law allow businesses to save significant costs compared to maintaining an in-house accounting department. By outsourcing, companies reduce personnel expenses and optimize operations, ensuring all tax and accounting tasks are completed accurately and on time without interrupting core business activities.

Improve Management Efficiency with Tax Accounting Services at Viet An Law

Through tax accounting services at Viet An Law, businesses receive transparent, detailed, and accurate financial reports. These reports provide leaders with a comprehensive view of the company’s financial situation, enabling effective strategic decision-making, profit optimization, and sustainable growth.

Ensure Legal Compliance by Using Tax Accounting Services at Viet An Law

Vietnam’s tax system is constantly updated with new regulations. Tax accounting services at Viet An Law ensure that businesses comply fully with all accounting and tax obligations, minimize risks, and avoid unnecessary penalties from tax authorities.

Tax Accounting Services at Viet An Law Keep Businesses Updated with New Regulations

With tax accounting services at Viet An Law, businesses are always up to date with the latest tax policies, declaration forms, and legal updates. This ensures accuracy in tax records, prevents errors, and helps companies maintain stable business operations.

Professional Consulting and Representation from Viet An Law’s Tax Accounting Services

Beyond routine tax operations, tax accounting services at Viet An Law provide expert consultation to optimize tax benefits and reduce expenses. The experienced team is also ready to represent businesses in explanations with tax authorities, ensuring all issues are resolved efficiently and effectively.

If you have any other legal concerns related to tax accounting services in the real estate business sector, please contact Viet An Law for more specific and detailed consultation. We sincerely thank you!