Expenditure Levels for Land Use Rights Auction Activities

To be specific, Circular 48 stipulates the expenditure levels for land use rights auction activities as follows:

1. For expenses that already have standards, norms, and unit prices set by competent state agencies, the expenditure level shall be implemented according to regulations.

- In case the auction is unsuccessful, the auction organization shall not be paid for the auction service remuneration, only reasonable actual expenses incurred for the land use rights auction; the maximum payment shall not exceed the auction service remuneration as stipulated by the Ministry of Finance on the framework for asset auction service remuneration.- In case a land use rights auction service contract includes multiple land plots and portions of the auction are unsuccessful, a determination must be made of the percentage (%) of successful auctions and the percentage (%) of unsuccessful auctions based on the starting price to determine the auction service remuneration payable to the auction organization.

2. For expenses that do not have regulations on standards, norms, unit prices set by competent state agencies, the implementation is as follows:

- The expenditure level for hiring organizations with the function of consulting to determine land prices to ascertain the starting price shall be carried out according to the contract between the agency assigned the task of determining the starting price and the selected land price consulting organization;- The head of the agency assigned the task of determining the starting price for land use rights auctions and the head of the agency tasked with handling the land use rights auction shall specifically determine the expenditure level for other expenses not yet regulated on standards and norms and shall be responsible for their decisions.

Refer to related regulations at Circular 48/2017/TT-BTC replacing Circular 335/2016/TT-BTC.

- Thanh Lam -

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE