MOF proposes annual property tax. The Ministry of Finance (MOF) and Government plan to propose a new property tax to the National Assembly during the 14th legislature. If this proposal is passed, it will be the first annual property tax to be imposed in Vietnam. At present, developers and land owners make a one-off payment in land-use right fees to the Government. As part of the proposal:- The property tax act will include two components: (1) Annual land tax and (2) Annual asset tax.