April 28, 2011

New Regulations on Land Use Fees

Informed Counsel

In Vietnam, land prices are used as the basis for calculation of land use fees, which apply mainly to the payment for the allocated land by eligible persons to the State, and land rental, which involves the payment for leased land by land users. Land prices fall under two categories: (1) those stipulated by the State and (2) those calculated on the basis of market price. In order to make the legislation on land prices more in line with market reality, the Government has amended a number of decrees on land prices. One such amendment, issued on December 30, 2010, is Decree 120/2010/ND-CP (Decree 120) on amending and supplementing a number of articles of the Decree 198/2004/ND-CP (Decree 198), dated December 3, 2004, on collection of land use fees.

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