Land-use leasing price reduced by 50% for some economic establishments

Government Prime Minister just decided to reduce land-use leasing price to 50% for economic establishments operating in fields of production and manufacture inclusive of trading and services in two years of 2011 and 2012.

The decision is applied to economic establishments being governed by Decree No. 121/2010/ND-CP on amendments and supplements of Decree No. 142/2005/ND-CP dated 14th September 2005 by Government on rental rate of land and water surface and by annual payment of leasing price including:

-          Economic establishments required to re-determine land-use leasing price in the new stable stage;

-          Economic establishments having expired land-use leasing price exemption, having to re-determine payable land-use leasing price;

-          Economic establishments have used land prior to March 01, 2011 being allowed to temporary pay land-use lease while re-determining official payable lease.

The mentioned type of economic establishments will be offered with 50% discount of land-use lease in 2011 and 2012 under two conditions: (i) land-use is in accordance with purposes and legal regulations, and (ii) land-use leasing price re-governed by Decree No. 121/2010/ND-CP which is as twice higher that payable in 2010.

The PM’s decision states that the deducted land-use leasing price should not lower than payable line in 2010. In case the deducted price is still twice higher than payable line in 2010, the establishments are offered to reduce such amount to twice the amount payable in 2010.

During the period of authorization consideration on land-use leasing price reduction (2011 and 2012), economic establishments are allowed to temporarily pay the amount equivalent to the paid amount in 2010. After the authorization is made final, the remaining amount will be paid (if any) without being fined for deferred payment.

According to Chinhphu – Translated by Vi Bao

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