To issue a decision to reduce 30% of 2023 land rent in July 2023 in Vietnam

To issue a decision to reduce 30% of 2023 land rent in July 2023 in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

On July 15, 2023, the Government issued Resolution 105/NQ-CP on tasks and solutions to remove difficulties for production and business, continue to promote reform of administrative procedures, and tighten discipline.

To issue a decision to reduce 30% of 2023 land rent in July 2023 in Vietnam

Specifically, the Government requests the Ministry of Finance to assume the prime responsibility for, and coordinate with ministries, agencies, and localities in, performing the following tasks and solutions:

- Effectively implementing policies on extension and reduction of taxes, fees, charges, and land rents that have been issued; continuing to research and propose policies and solutions to support fiscal but not affect the safety of public debt, government debt, and foreign debt of the country associated with effective use of capital.

- Expeditiously operating the individual corporate bond trading floor in July 2023; closely monitoring the maturity and repayment of debts; negotiating to extend the repayment period of each enterprise; taking timely and appropriate solutions; strengthening timely information and communication to maintain market and investor sentiment.

- In October 2023, assume the prime responsibility for, and coordinate with relevant ministries and sectors, to report to the Government on the implementation of Decree 65/2022/ND-CP and Decree 08/2023/ND-CP, and propose amendments and supplements to regulations on private bond offering and trading (if necessary) to suit the situation and practical requirements.

- Urgently reviewing legal regulations to amend and guide in case of necessity, creating favorable conditions, quick and compact procedures for businesses, and ensuring the fastest time for value-added tax refund for businesses.

- Calculating the extent, term, form, and method of raising capital and issuing government bonds in accordance with the schedule of revenue, expenditure, and disbursement of public investment capital in order to stimulate economic growth, ensure the effective use of loans, the ability to repay loans, and ensure the stability, safety, and sustainability of the national finance.

- In July 2023, submit to the Prime Minister for promulgation the Decision to reduce 30% of land rent in 2023 for organizations, units, enterprises, households, and individuals that are being directly leased land by the State under a decision, contract, or certificate of land use rights, ownership of houses, and other land-attached assets of competent state agencies in the form of land rental with an annual payment.

To reduce the union fee from 2% to 1% and extend the payment deadline till the end of 2023 in Vietnam

According to Resolution 105/NQ-CP, the Government proposed the Vietnam General Confederation of Labor study, reduced the union fee from 2% to 1%, and extended the deadline for payment of funds to 2023;

At the same time, research will continue to implement until the end of 2023 the policy to support trade union members, employees whose working hours are reduced, and labor contracts terminated due to business cuts or order reductions, according to Resolution 06/NQ-DCT in 2023, Decision 6696/QD-TLD in 2023.

More details can be found in Resolution 105/NQ-CP dated July 15, 2023.

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