Headlines 29/03/2023 14:02 CH

New regulation on a higher tax rate for users of large amount of land and great number of houses

Thu Linh

This is the content of Resolution No. 37/NQ-CP dated March 17, 2023 on the Action Plan for the implementation of Resolution No. 18-NQ/TW on “Ongoing Innovation and Improvement in Regulatory Institutions and Policies, Enhancement of Efficiency and Effectiveness in Management and Use of Land, Serving as the Driving Force in Developing Our Country Into a High-Income Economy” promulgated by the Government of Vietnam.

Specifically, regarding the improvement of financial mechanisms and policies, the Government of Vietnam requests the following tasks:

- Ensure that financial policies applied to land are conformable with the interests of the State, land users, and investors; adopt a reasonable and effective regulatory mechanism for revenue from land use levy and land rent between the central and local authorities.

- Research and develop policies to control land rent disparities, ensuring public access and transparency.

- Review regulatory policies and laws on agricultural and non-agricultural land use taxes, develop regulatory policies and laws on land use taxes according to international practices, keeping up with the level of development and conforming to specific conditions and appropriate roadmap.

- Impose higher tax rates for users of the large amount of land, the great number of houses, land speculation, deferred land use, and abandoned land.

- Adopt policies on tax incentives, incentives for land use levy and land rent according to the fields and geographical areas eligible for investment incentives; for poor households, ethnic minorities, and families of revolutionary contributors; for localities where production planning schemes take effect in order to ensure national food security, protect all kinds of forests, especially protection forests and special-use forests, etc.

See more details in Resolution No. 37/NQ-CP dated March 17, 2023.

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