Vietnam: Guidance on the procedure for specific land price determination from July 01, 2014

Specifically,according to Article 16 of Decree No. 44/2014/NĐ-CP of Vietnam’s Government, the procedure for specific land price determination is as follows:

- The procedure for specific land price determination includes:

+ Defining the purpose of specific land pricing

+ Investigating, synthesizing, analyzing the information about the plot of land, the market price of land; applying the land pricing methods

+ Making the land pricing plan and submitting it to the People’s Committee of the province

+ Inspecting the land pricing plan;

+ Completing the draft land pricing plan and submitting it to the People’s Committee of the province for approval.

+ The Committee of the province shall impose land prices.

- The application for specific land pricing submitted to the Committee of the province for approval consists of:

+ A report on the land pricing plan;

+ The draft land pricing plan;

+ A description of the formulation of the land pricing plan;

+ A record of the inspection of the land pricing plan.

- The land pricing shall be verified by a Verifying Council which is established by the People’s Committee of the province and consists of:

+ President of the People’s Committee of the province as the Council President.

+ Senior representative of the Department of Finance of the province as permanent Council; senior representatives of Department of Natural Resources and Environment and the People’s Committee of the district where the piece of land is located, organizations licensed to provide consultancy on land pricing or specialists in land pricing and other members appointed by the People’s Committee of the province.

View more details at Decree No. 44/2014/NĐ-CP of Vietnam’s Government, effective from July 01, 2014.

Le Hai

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