HCMC – The National Assembly has tasked the Government with drafting new tax laws targeting individuals who own multiple properties or leave land unused, as part of efforts to enhance land use efficiency and bolster state budget revenues.
The proposed regulations would impose higher taxes on owners of large land areas, multiple homes, or idle land. These measures are intended to encourage effective land use and deter speculation.
The Government has been tasked with aligning the proposed tax changes with ongoing land law reforms while ensuring they adhere to international standards and suit Vietnam’s socio-economic conditions.
In addition, the NA has called for stricter oversight of land allocated for development projects. Authorities are expected to penalize delayed or inefficient land use. Developers who lack financial capacity or fail to complete projects as planned will face accountability measures.
Misinformation affecting financial and real estate markets is also a key focus. The Government has been urged to monitor bond issuance closely and ensure that real estate companies meet their debt obligations.
To enhance transparency, the Government has been instructed to upgrade housing and land databases. These systems will integrate with national urban planning and demographic data, providing accurate, regularly updated information on the real estate market.
Authorities have also been tasked with developing tools to manage eligibility for social housing. These tools aim to prevent abuse of housing policies and streamline the approval process for applicants.
