Topic: land

Hanoi Accelerates 2024 Land Law Rollout, Pilots Groundbreaking Policies

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.

Huge demand exists for land in the southern province for trade and services.

National database expected to be completed in June.

Ministry of Natural Resources and Environment conducted 1,400 land inspections over last three years.

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.

The Soc Son District People’s Committee in Hanoi has said it is preparing to auction 12 land plots in Huong Dinh Doai and Huong Dinh Dong hamlets in Mai Dinh commune. The auction is expected on October 2, at the district office. Many districts in Hanoi have recently held land auctions, with Me Linh district being especially active.

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.