The Ministry of Finance (MoF) has proposed to extend the agricultural land tax exemption policy by five years from January 1, 2026 to December 31, 2030.

The policy is part of the draft Resolution of the National Assembly on agricultural land tax exemption which is being built by the MoF.

The policy is aimed to support farmers and encourage investment in agriculture, according to the ministry.

Particularly, it is expected to help raise the competitiveness of Vietnamese agricultural products in the international market.

Reviewing the implementation of the policy over the past 20 years, the MoF estimated that the total agricultural land tax reduction and exemption value in the 2021-2023 period was estimated at over VND7.5 trillion ($392 million) per year.