Aimed at promoting transparency and easing burdens for businesses, Vietnam's government proposes a revised decree to address complexities in land use fees and rental policies.
The Quang Ngai Provincial People’s Committee has decided to auction land use rights for more than 28,000 sq m in a residential area project north of Huynh Thuc Khang Street in Quang Ngai city, for the construction of commercial housing projects. The central province previously announced the auction of land use rights for 53 plots of land in the Go Dua Residential Area in Duc Pho town, with a total area of nearly 8,000 sq m.
The Ministry of Finance has said that of the five revenue sources that exceeded estimates in the first nine months, the collection of house and land taxes did so by 18.4 per cent and the collection of personal income taxes by 8.8 per cent. However, many analysts believe that budget revenue from land is still quite low compared to many other countries.
In regard to the draft revised Land Law, the Ministry of Natural Resources and Environment (MoNRE) has said that it will not tax those with many houses but on the use of the land. High tax rates will be imposed on speculators who buy land and projects but then do not invest, instead waiting for the market to increase to sell for profit.
Deputy Prime Minister Le Van Thanh has approved a plan to reduce and simplify regulations relating to business activities within the scope of the State management functions of the Ministry of Natural Resources and Environment, with a roadmap for implementation from 2022 to 2025.
After reviewing an appraisal from the Provincial Land Price Appraisal Council, the Khanh Hoa Provincial People’s Committee has determined that due to adjusted land use fees and land rentals, the total additional amount the investor of The Lotus Cam Ranh project must pay is VND354 billion ($15.5 million).
At a conference reviewing work in 2021 and implementing plans for 2022, the Vietnam General Department of Land Administration said it will continue to focus on perfecting land law policies this year, in particular completing amendments to the 2013 Land Law. Vietnam has measured and mapped over 77 per cent of its total natural area to date.
