Determination of Land Fund Value for Payment for BT Investment Projects

1. For land funds that have not been cleared belonging to the planning, plan, and cleared land belonging to the planning, plan, the value of the land fund payment is the land levy, land rent paid in one lump sum for the entire lease term. The determination of the value of the land fund payment is in accordance with the legal provisions on the collection of land levy, land rent, water surface rent.

2. For land funds of state-owned house and land establishments, the value of the land fund payment is the value of the land use rights and the reassessed value of the assets on the land (after deducting the costs related to determining the value of the land fund payment as prescribed). The determination of the value of the land fund payment is presided over by the Department of Finance, submitted to the Provincial People's Committee for decision in accordance with the legal provisions on the management and use of state-owned assets.

3. The value of the land fund payment does not change from the date the competent state agency determines it. Except in cases where there is a document from the competent state agency approving adjustments to the land use planning, construction planning leading to changes in the value of the land fund payment.

The adjusted value of the land fund payment is determined according to the legal provisions on the collection of land levy, land rent, water surface rent, or the legal provisions on the management and use of state-owned assets at the time the competent state agency has a document adjusting the land use planning, construction planning. The adjusted value is recorded in the Appendix of the BT Contract signed between the Contracting Parties;

The adjusted value of the land fund payment recorded in the Appendix of the BT Contract is aggregated into the value of the land fund to pay the Investor.

4. The actual value of the land fund payment is the value of the land fund payment after adjustments according to the Appendices of the BT Contract (if any).

More details can be found in Circular 183/2015/TT-BTC effective from January 1, 2016.

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