Many investors buy a Marriott branded residence at Grand Marina Saigon with the goal of leasing it out, whether long-term or short-term. With indicative rents of roughly 25–40 million VND/month for a 1-bedroom, 40–70 million for a 2-bedroom, and 70–120 million for a 3-bedroom, rental revenue almost always exceeds the taxable threshold. This article explains, in general terms, how rental income tax works in Vietnam so you can estimate your true after-tax return.
Which taxes apply when you lease an apartment?
An individual leasing an apartment in Vietnam typically pays three things: personal income tax (PIT), value-added tax (VAT), and an annual business-license fee, provided total rental revenue for the year exceeds the exemption threshold.
For leasing activity, Vietnam's tax rules apply a percentage of revenue (there is no deduction of costs as a company would have). In practice, an individual leasing a home or apartment pays:
- PIT as a percentage of rental revenue.
- VAT as a percentage of rental revenue.
- An annual business-license fee, tiered by revenue band (low-revenue individuals may be exempt).
All three are calculated on the same figure: the total rent received during the year. If the contract states the tenant covers the tax, the taxable revenue is still the rent shown in the lease. This is the general framework; rates and rules can change over time, so confirm with the tax office or an accountant before filing.
What revenue level is exempt from tax?
Under current rules, an individual whose total rental revenue in a calendar year is 100 million VND or less is not required to pay PIT or VAT on that rent.
The 100-million-VND threshold applies to total revenue, not profit. Given Grand Marina's rent levels, even a 1-bedroom leased at around 25 million/month already reaches 300 million per year — far above the exemption. As a result, virtually every landlord at this project will need to declare and pay tax.
One important note: the threshold is assessed per individual and per calendar year. If you own and lease several apartments, the revenue is combined. If a multi-year lease is paid in a single lump sum, revenue may be allocated across the years to determine the threshold — an easy point to get wrong, so discuss it carefully with an accountant.
What are the PIT and VAT rates on rent?
For leasing activity, the commonly applied rates are 5% PIT and 5% VAT on revenue — roughly 10% of the rent in total.
The table below illustrates how to estimate tax on a few indicative Grand Marina rent levels (illustrative only, rounded for clarity):
| Unit / monthly rent | Annual revenue | VAT 5% | PIT 5% | Total annual tax (~10%) |
|---|---|---|---|---|
| 1BR — 30M VND/mo | 360M VND | 18M VND | 18M VND | ~36M VND |
| 2BR — 55M VND/mo | 660M VND | 33M VND | 33M VND | ~66M VND |
| 3BR — 90M VND/mo | 1.08B VND | 54M VND | 54M VND | ~108M VND |
As the table shows, total rental tax works out to roughly one month's rent each year. When you calculate net (after-tax) yield, deduct this tax along with the management fee (about 8–9 USD/m²/month) from your gross rent. The rent figures above are indicative and move with the market; contact us on Zalo for actual asking rents by tower — Lake, Lagoon, Cove, or Sea.
Want to know the exact after-tax net yield on a specific unit? We will run the numbers by unit type for you.
Is it different for foreign owners?
Foreigners who own a Grand Marina apartment on a 50-year title may still lease it and pay tax on the rent in the same way, while keeping an eye on filing and on repatriating funds abroad.
As stated on the project site, foreigners may own an apartment for up to 50 years (renewable under Vietnamese law), within a cap of 30% of units per tower, with the right to lease and to transfer. For rental tax, the principle of charging PIT and VAT on revenue applies the same way as for local individuals. The main difference lies in the procedures: documenting lawful income so profits can later be remitted overseas, and clarifying your home-country tax position under any double-taxation treaty.
Because these points depend on your nationality and personal situation, read the FAQ carefully and consider whether you need a lawyer to buy a luxury condo in Vietnam for individualized advice. As these are branded residences, the legal paperwork and leasing operations tend to be more structured than at a standard project.
How do you file and pay rental tax?
An individual landlord can declare either per occurrence or by period (month/quarter/year) at the tax office where the apartment is located, paying tax as a percentage of that period's revenue.
The basic process usually involves:
- Preparing the lease contract along with apartment and rent details.
- Completing the property-leasing tax return (on the tax office's form).
- Filing the return at the District Tax Office where the apartment sits (or via the e-tax portal).
- Paying the PIT, VAT, and business-license fee (if any) per the notice.
- Keeping the payment receipts for future resale, remittance, or reconciliation.
Many landlords appoint an accountant or a leasing-management service to handle the filing and avoid mistakes with periods and forms. Keeping complete contracts and tax receipts also matters when you sell — see Resale & Transfer Tax: 2% PIT and the Conveyancing Process to understand your obligations at exit, and Notarizing Your Sale Contract in Vietnam: Process & Documents to prepare the transfer paperwork correctly.
How can you optimize after-tax rental profit?
The most practical approach is to calculate net yield (after tax, management fees, and vacancy) rather than relying on gross yield, then pick the unit type and tenant segment that fit.
A few factors directly affect your after-tax return:
- Unit type and rent: a 1BR fills up easily, while larger units command higher rent but suit a narrower tenant pool.
- Marriott management fee (~8–9 USD/m²/month) — partly subsidized by the developer for the first three years.
- Occupancy rate and vacancy time between tenants.
- Leasing format: serviced short-let versus stable long-let.
According to market data published by Knight Frank and Savills in 2024–2025, branded residences typically command prices and rents around 25–35% higher than comparable non-branded luxury apartments — this is a market reference, not a promise. Actual results depend on the individual unit, timing, and policy. So the project's indicative 3.5–5% annual yield is only a starting point for working out the net figure on a specific unit.
Want to compare net yields across 1BR, 2BR, and Dual-Key units in different towers? Our advisory team is ready to help.
Note
Prices, areas and timelines may change per the developer's official announcements. Please contact us on Zalo 0903 475 802 for the latest documents and price list.