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Wednesday, June 19, 2024

Land rental reduced by 30% for this year

The Saigon Times

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HCMC – Deputy Prime Minister Le Minh Khai has signed a decision reducing land rental by 30% for this year, with effect from November 20.

Beneficiaries include organizations, enterprises, households and individuals that have leased land directly from the state under a decision or agreement or certificate of land use rights and ownership of houses and other landed assets in the form of land lease with annual rental payment.

Land lessees that are currently exempted from land rental or not subject to land rental reduction or exemption will also benefit from this decision.

Land rental subject to the 30% cut this year does not include debt incurred prior to 2023 and unpaid rent.

In April this year, the Government permitted the rescheduling of taxes and land rental payments for the year 2023.

In 2020 and 2021, the Government cut land rental by 30% for land lessees that were affected by the Covid-19 pandemic.

The introduction of these policies is aimed at mitigating financial constraints for businesses given the difficulties they have faced over the past few years.

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