Procedures for reduction in or exemption from land levies in Vietnam

11:12, 15/02/2018

This is a content specified in Circular No. 10/2018/TT-BTC issued on January 30, 2018 by the Ministry of Finance of Vietnam, which provides amendments and supplements to Circular No. 76/2014/TT-BTC providing guidance on the Government’s Decree No. 45/2014/NĐ-CP on land levy.

According to Circular No. 10/2018/TT-BTC of the Ministry of Finance of Vietnam, procedures for reduction in or exemption from land levies in case the land price is determined according to direct comparison, subtraction, income-based, or surplus-based methods are as follows:

- If the land prices used for calculation of the land levies are announced by competent authorities as regulated by law at the time of application for land levy exemption or reduction, the exempted or reduced amounts of land levies shall be determined according to these land prices.

- If the land prices used for calculation of land levies determined by competent authorities as regulated by law are not available at the time of application for land levy exemption or reduction:

+ The exempted amount of land levy shall be determined according to the land price in the Table of land prices and the land price adjustment coefficient announced by the Provincial-level People's Committee.

+ The reduced amount of land levy shall be determined after the land prices used for calculation of land levies are determined and announced by competent authorities.

View more details at Circular No. 10/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from March 20, 2018.

-Thao Uyen-

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