The Ministry of Finance has issued Document No. 8288 to guide the implementation of the Land Law 2024 regarding the management and use of public assets.
According to the Ministry of Finance, the land price tables issued by the provincial People’s Committees based on the Land Law of 2013 will remain valid until December 31, 2025. If necessary, the provincial People’s Committee may decide to adjust the land prices in accordance with the new Land Law to match the actual land prices in the locality. The procedure for adjusting land prices in this case, if any, shall comply with Article 17 of Government Decree No. 71/2024, which stipulates the land prices.
The Ministry of Finance also announced that, in executing the plan to implement the Land Law 2024 as per Prime Minister’s Decision No. 222 and the Government’s instructions, it has submitted to the Government for promulgation Decree No. 103 on land use fees and land rent and Decree No. 104 on the Land Development Fund.
The Ministry of Finance affirmed that the land price tables issued by the provincial People’s Committees in accordance with the 2013 Land Law remain valid until December 31, 2025. |
These decrees stipulate the calculation, collection, and payment of land use fees and land rent, as well as exemptions and reductions. They also regulate the organization, operation, and financial mechanisms of the Land Development Fund and provide guidelines for handling transitional issues related to land use fees and land rent for cases where land has already been allocated or leased before the effective date of the 2024 Land Law. Additionally, they outline the responsibilities of ministries and central agencies, as well as the provincial People’s Committees, following the enactment of these decrees.
The Ministry of Finance requests that the ministries, central agencies, and provincial/municipal People’s Committees immediately fulfill their assigned responsibilities as stipulated by the Government.
In a related development, the Ho Chi Minh City Tax Department recently sent a document to the Ho Chi Minh City People’s Committee, stating that the application of Decision No. 02/2020/QD-UBND for cases where land prices are determined according to the land price tables as prescribed in Clause 1, Article 159 of the 2024 Land Law will lead to certain difficulties and obstacles in handling dossiers at the tax agency.
The Ho Chi Minh City Tax Department clarified that, based on the 2024 Land Law, Decision No. 02/2020/QD-UBND, issued by the Ho Chi Minh City People’s Committee, stipulating the land price tables for the 2020-2024 period, will remain valid until December 31, 2025. However, if the Ho Chi Minh City People’s Committee continues to apply the 2020-2024 land price tables without adjustment coefficients (without a percentage rate for calculating annual land rent), it will be impossible to accurately calculate land use fees, land rent, and personal income tax from real estate transfers in accordance with the law.
Therefore, the Ho Chi Minh City Tax Department recommended that the Ho Chi Minh City People’s Committee promptly issue a decision to amend and supplement Decision No. 02/2020/QD-UBND to align with the actual situation and provide timely guidance on applying legal documents (land price tables, adjustment coefficients, and percentage rates for calculating land rent) so that the tax agency can promptly determine financial obligations related to land for dossiers arising from August 1 onwards.
Duy Quang
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