What are the principles of the consultancy on land pricing in Vietnam? What are the conditions for providing the consultancy on land pricing services in Vietnam?
What are the principles of the consultancy on land pricing in Vietnam?
According to the provisions of Article 19 of Decree No. 44/2014/ND-CP, the organizations licensed to provide the consultancy on land pricing services must:
- Apply the principles, land pricing methods, procedure, contents when formulating the land price bracket, the land price list and determining land prices.
- Be independent, honest and objective.
- Perform duties as prescribed in Clause 2 Article 116 of the 2013 Land Law of Vietnam, specifically as follows:
+ To take responsibility before law for the accuracy, honesty and impartiality of the results of consultancy on land pricing determination;
+ To implement the agreements with consultancy hirers stated in the contract on consultancy on land price determination;
+ To submit to the inspection and examination by competent state agencies; and to report on the organization and results of consultancy on land price determination to competent state agencies annually or in unexpected cases;
+ To fulfill the tax obligations and other financial obligations in accordance with law;
+ To register the list of member valuators and the change or adjustment of this list to competent state agencies of the locality where the organization is headquartered;
+ To archive documents and records on results of consultancy on land price determination;
+ Other obligations as prescribed by law.
What are the principles of the consultancy on land pricing in Vietnam? What are the conditions for providing the consultancy on land pricing services in Vietnam? (Image from the Internet)
What are the conditions for providing the consultancy on land pricing services in Vietnam?
The organizations are licensed to provide consultancy on land pricing when fully meeting the conditions specified in Clause 1, Article 20 of Decree No. 44/2014/ND-CP, specifically as follows:
Conditions for providing the consultancy on land pricing services
1. The organizations providing consultancy on land pricing must:
a) Be licensed to provide consultancy on land pricing, real estate valuation or consultancy on real estate valuation;
b) Have at least 3 pricing experts eligible to provide consultancy on land pricing as prescribed Clause 2 of this Article.
Thus, the organizations are licensed to provide consultancy on land pricing when fully meeting the following conditions:
- Be licensed to provide consultancy on land pricing, real estate valuation or consultancy on real estate valuation;
- Have at least 3 pricing experts eligible to provide consultancy on land pricing as prescribed in Clause 2, Article 20 of Decree No. 44/2014/ND-CP (amended in Article 2 of Decree No. 136/2018/ND-CP) as follows:
An individual can provide consultancy on land pricing if working for an organization whose function is to provide consultancy on land pricing and satisfying one of the following requirements:
+ Possess a certificate in land pricing as regulated by the Law on land; or
+ Possess a valuer certificate or certificate in real estate appraisal and certificate of completion of supplemental training in land pricing according to the Ministry of Natural Resources and Environment’s program for supplemental training in land pricing
Which agency develops land price tables?
Pursuant to Article 114 of the 2013 Land Law of Vietnam stipulating as follows:
Land price tables and specific land prices
1. Based on the principles, methods of land valuation and land price frames, provincial-level People’s Committees shall develop and submit the land price tables to the People’s Councils of the same level for review before promulgation. Land price tables shall be developed once every 5 years and publicized on January 1 of the beginning year of the period.
During the implementation of land price tables, when the Government adjusts land price frames or there are changes in popular land price in the market, provincial-level People’s Committees shall adjust land price tables accordingly.
At least 60 days before submitting the land price tables to the People’s Council of the same level for review, the provincial-level People’s Committee shall send the draft land price tables to agencies in charge of developing land price frames for consideration. In case of big difference in land prices at bordering locations among provinces and centrally run cities, this difference must be reported to the Prime Minister for decision.
2. Land price tables shall be used as a basis for the following cases:
a/ Calculation of land use levy when the State recognizes land use rights of households and individuals for land areas within land use quotas, or permits change of land use purpose from agricultural land or non-agricultural land which is non-residential land to residential land for land areas within land allocation quotas applied to households and individuals;
b/ Calculation of land use tax;
c/ Calculation of charges and fees in land management and use;
d/ Calculation of fines for administrative violations in the field of land;
e/ Calculation of indemnification paid to the State for damage caused in land management and use;
f/ Valuation of land use rights paid to the people who voluntarily return land to the State in case the returned land is allocated with land use levy, recognized of land use rights with land use levy, or leased land with full one-off rental payment for the entire lease period by the State.
3. Provincial-level People’s Committees shall decide on specific land prices. The provincial- level land administration agency shall assist the provincial-level People’s Committee in the determination of specific land prices. During the implementation, the provincial-level land administration agency may hire organizations having consultancy functions for advising on the determination of specific land prices.
The determination of specific land prices must be based on the investigation, collection of information about land parcels, market land price and information on land price in the land database, and based on suitable valuation methods. Based on the consultation on land price, the provincial-level land administration agency shall submit the specific land price to the council for land price appraisal for consideration before submitting it to the People’s Council of the same level for decision.
The council for land price appraisal comprises the chairperson of the provincial-level People’s Committee as the chairperson, and representatives of related agencies and organizations and the organization with the function of consultancy on land price determination.
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Thus, the land price table will be developed by the provincial-level People's Committee and submitted to the People's Council of the same level for approval before promulgation.
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