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Sunday, June 16, 2024

Enterprises suspending operations due to Covid-19 to enjoy land rent reduction

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HCMC – Enterprises, organizations, households and individuals that lease State-run land lots and have suspended their operations for at least 15 days due to the Covid-19 pandemic will be entitled to a 15% reduction in their land rents this year.

The prime minister has issued Decision 22 on the reduction of land rents in 2020 for those affected by the pandemic, Nguoi Lao Dong newspaper reported.

Accordingly, the policy will be applicable to land rents in 2020 only, not in previous years, and inapplicable to fines for late land rent payments.

Lessees that conduct production and business activities but have had to suspend their operations on the land lots leased by the State will also be entitled to the policy.

Dossiers for the land rent reduction must include lessees’ applications for the reduction and copies of the competent agencies’ decisions to lease land or land lease contracts.

Lessees must take responsibility before the law on the accuracy of the information provided by them and make sure they are eligible for the land rent reduction.

The prime minister’s decision also states that lessees must submit dossiers for land rent reduction to tax agencies, the management boards of economic zones or hi-tech parks and other agencies in accordance with the law from August 10 to December 31.

The competent agencies must determine the reduced amounts and issue decisions on the reduction for no more than 20 days since they receive the lessees’ lawful dossiers.

If lessees receive a reduction in land rent but are later found to be ineligible for the policy, they must pay back the reduced amounts to the State budget and fines for late payments calculated based on the reduced amounts, in line with regulations on tax management.

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