Vietnam - Land Rent Reduction In 2021 For Those Affected By The Covid-19 Epidemic.
Legal News & Analysis - Asia Pacific - Vietnam - Construction & Real Estate - Tax
12 October, 2021
The Prime Minister issued Decision No. 27/2021/QD-TTg dated 25 September 2021 on reducing land rent for 2021 for those affected by the Covid-19 epidemic. The main contents are as follows:
- Subjects to be applied include: organizations, units, enterprises, households, and individuals being directly leased land by the State under a decision or contract of a competent state agency in the form of annual land rental payment. (“Land Tenant”).
- Land rent reduction: 30% reduction of land rent that must be paid in 2021 for Land Tenants. This reduction does not apply to the outstanding land rent of the years before 2021.
- In case the Land Tenant have already received a reduction in land rent according to the provisions of law, the reduction of 30% of the land rent shall be calculated on the payable land rent after the reduction has been made.
- To be eligible for exemption or reduction, the Land Tenant must have a dossier of land rent reduction including: (i) A written request for land rent reduction in 2021 (under the form attached to this Decision); (ii) Land lease decision or land lease contract of a competent state agency (a copy version). After being considered by the competent authority, the Land Tenant will receive a decision to reduce the land rent.
- The order and procedures for land rent reduction are specified in this Decision.
- In case the land tenant submits the application for reduction of land rent from 1 January 2022, the reduction of land rent under this Decision will not be applied.
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