Illustration (source: Int)
According to the Department of Natural Resources and Environment of Khanh Hoa Province, the enterprise has paid back in full the land lease previously granted with a 10-year exemption by the province for the project of eco-tourism and high-class resort (in the north of Cam Ranh peninsula).
The Department of Natural Resources and Environment has recently inspected the project’s dossier to provide information and documents as requested by the People’s Court of Ha Tinh city, following lawsuits filed by some customers who purchased tourist villas in this project against the investor.
The inspection result shows that this enterprise was granted a certificate of land use rights, ownership of houses and other assets attached to the land at the Cam Ranh peninsula project on December 19, 2017.
The total area of the project is over 33.33ha, of which 58,771m2 is for residential purposes in rural areas, specifically “residential land not forming residential units”.
The remaining area is for commercial and service purposes (274,557m2), and the project owner is allowed to lease the land with a one-time payment. The land use and lease term will last until January 2, 2063.
In April 2015, the Tax Department of Khanh Hoa Province decided to exempt the project investor from land rent during the construction period of 3 years (from December 2012 to December 15, 2015).
Subsequently, the project owner was granted investment incentives with an additional 7-year exemption, until December 15, 2022.
In total, this enterprise was exempted from paying land rent for up to 10 years, with a total amount of exemption exceeding VND 11.016 billion.
According to the inspection conclusions of the Central Inspection Committee and the Government Inspectorate (in 2019 and 2020), the exemption of land rent and land allocation by Khanh Hoa Province for this project and many other projects in the province was in violation of regulations and laws. Therefore, the province was required to rectify the consequences.
Following that, the enterprise has paid back in full the amount subject to recovery according to the decision of the Tax Department of Khanh Hoa Province (May 2012), totaling more than VND 29.168 billion.
This includes over VND 11 billion in land rent exemption (10 years) that was recorded in the land use right certificate granted to the company in December 2017.
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